Under Dutch law, a debtor can remedy a default by offering to perform its obligations at a later date. Such an offer, however, has to include an offer to pay for damages and costs incurred as a result of the default (art. 6:86 DCC). If the creditor refuses to accept an offer that meets such criteria, the creditor will be … Read more
On 1 July 2017, the act against unreasonably long payment terms came into effect (the ‘Act’). The Act aims to shorten payment terms throughout the supply chain and for SMEs in particular. In short, the Act prohibits large companies acting as purchasers from imposing payment terms of longer than 60 days on SMEs acting as suppliers (or service providers). It … Read more
On 10 July 2015, the Dutch Supreme Court ruled that in cases of recourse (regres) by insurers, the correction for fairness (billijkheidscorrectie) applies in exactly the same way as it does for the insured party (Achmea/Menzis). Insurers can thus benefit from ‘subjective circumstances’ particular to the insured party. As a result of this judgment, the Dutch Supreme Court has put … Read more