AMZ123 Cross-border NewsletterAMZ123 has learned that the new payment term rules for large enterprises dealing with SMEs issued by Thailand's Trade Competition Commission will officially take effect on November 2, and the relevant notice was published in the Royal Gazette on October 2. The new rules set payment term caps by industry: agricultural product transactions must not exceed 30 days, while trade, manufacturing, and services must not exceed 45 days. The rules apply to large buyers with annual revenue exceeding 5 billion baht. If contract payment terms need to be changed, the counterparty must be notified 60 days in advance. Violators face fines of up to 10% of annual revenue.
SellerHome Review
Thailand's new payment term rules directly constrain large buyers' payment cycles, and sellers with trading or manufacturing operations in Thailand can use them to shorten collection periods and reduce cash flow pressure. It is recommended to review partners' revenue scales and payment term clauses, and complete contract reconciliation and compliance confirmation before November 2.
Source: AMZ123
Original link: https://www.amz123.com/kx/419ZpSjh
