Council of Government: adoption of a draft law on the Commercial Code

This bill, presented by the Minister of Industry and Trade Ryad Mezzour, comes in execution of the High Directions of His Majesty King Mohammed VI who emphasized in the royal speech on the occasion of the 65th anniversary of the Revolution of the King and the People, the problem of late payment which hinders the normal functioning of business, said the Minister Delegate for Relations with Parliament, Government Spokesman, Mustapha Baitas, at a press briefing held after the Council.

The bill, he continued, is part of the efforts of the executive to address the delay in payment to achieve the recovery of the national economy and improve the business climate. This bill aims to address the gaps and obstacles that hamper compliance with payment deadlines, as it provides provisions setting the payment period of claims on operations to 60 days in case the parties concerned have not agreed a deadline. It should not exceed 120 days when the parties concerned set a contractual deadline and this, from the date of issue of the invoice.

According to the Minister, this project includes legal provisions enacting a system of periodic reporting to the Administration, electronically, on unpaid invoices within the time, those paid in whole or in part outside the time, in addition to unpaid invoices and subject to litigation before the court, with the identification of persons concerned by this statement and the granting to the Administration of a credibility
check of the statements and the determination of procedures for this control.

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