Entrepreneurs allow more prepayment deals

In 2010 in 23.5% of all transactions the entrepreneurs determined hundred per-cent prepayment before delivery of goods or performance of work, but in 2011 it was only 18.4% of all transactions, while in 2012 the number of transaction with prepayment before delivery of goods or performance of work comprised only 10.1%. The number of transactions with contract due date from 8 up to 14 days after delivery of goods or performance of work has increased faster than during previous years – by 22.5%. In 2012 such a due date was determined more often than in 2011, when the majority of entrepreneurs provided for the 15-30 day payment due date after delivery of goods or performance of work in the contracts. The research also reflects the tendency that in 2012 the contracts were concluded on the terms with longer due date, which are more favourable for the clients. Last year the average due date provided for in the contracts comprised 30.5 days after delivery of goods or performance of work which is by 0.8 days more than in 2011. In key business sectors the number of transaction with contract due date with deferred payment provision has been notably more dynamic. In view of sectors in 2012 the maturity of contractual payment terms were extended in all sectors. The fastest extension of due terms for goods or services determined in the contracts was observed in the sector of processing industry last year, which comprised on average 37.2 days after delivery of goods, while in 2011 the average term was 25.9 days.