Companies pay their obligations up to 19 days after the due date

Worsening payment discipline has impacts on almost all companies. The average time between the issuing an invoice and its full settlement has risen from 59 days in 2008 to 72 days this year – this is the outcome of the analysis carried out by ČSOB Factoring among more than 22.000 entrepreneurs. The situating is not likely to improve even this year, despite the slight economic recovery. “The economic recovery is noticeable only by some companies. It will take several years to get back to the levels before the economic recession and return to the faster payment of debts”, said Jindřich Horák, Sales Director in ČSOB Factoring.