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Spanish B2B invoices: maximum payment terms, statutory interest and the €40 compensation under Ley 3/2004.
Spain's Ley 3/2004 (late payment in commercial transactions) caps B2B payment terms at 60 days, and gives statutory interest at the ECB rate plus 8 points and at least €40 compensation for recovery costs. For unpaid debts, the procedimiento monitorio is a quick court procedure for documented debts, with no lawyer required below certain amounts.
This is a general summary that may be out of date. Not legal advice. Verify current rules on official government or court websites.
Subject: Overdue invoice [INV-123]: [amount] due [due date] Dear [Name], Invoice [INV-123] for [amount] for [services] was due on [due date] and remains unpaid despite my reminders of [dates]. Please pay the outstanding balance [plus interest/compensation permitted by law or our agreement: state the basis] by [date]. If payment is not received by then, I intend to [next step for this jurisdiction] without further notice. If you dispute any part of the invoice, please tell me in writing by that date. Regards, [Your name]
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Generate my sequence free60 days in B2B transactions; longer terms are generally void.
Not for lower amounts; check current thresholds.
General information and draft wording only. Not legal advice. PaidNudge is not a law firm or a debt collector. Check your contract and local rules, or ask a qualified lawyer, before relying on any late fee, interest or court step.