Maximum period for payment of commercial invoices of 60 days
A recent judgment by the Spanish Supreme Court, dated 23rd November 2016, has ruled that Law 3/2004 (dated 29th December 2004) against late payment in commercial operations, as amended by Law 15/2010 of 5th July and Law 11/2013 of 26th July, establishes a maximum period of 60 days for payment in commercial operations. After such period, interests, as established in the Law, inevitably accrue. Read more


On 8th September 2016, Finland ratified the International Convention for the Control and Management of Ship’s Ballast Water and Sediments, also known as the Ballast Water Management Convention (BWM Convention). With this ratification, the criteria established in article 18 of the Convention for the entry into force have been met, triggering the twelve month period for its application.
Article 1911 of the Spanish Civil Code establishes the general principle that debtors will be held accountable for their liabilities with all their present and future assets. Limitation of liability is an exceptional figure under Spanish law. For this reason, Spanish Courts are always reluctant to accept the limitation of liability principles established in international conventions in matters of transport and seek a way to avoid such limitation of liability. 