When the money actually arrives

What is the statutory payment term?

Under Art. 303a of the Bulgarian Commerce Act, where the debtor is a public contracting authority the payment term is up to 30 days from receipt of the invoice, or from acceptance of the works where acceptance is later.

The term may be extended to 60 days only where this is expressly agreed and objectively justified by the nature of the contract.

The rules derive from the European late payment directive as transposed into Bulgarian law. Statutory interest is due on delay without a reminder being required.

Why does payment take longer in practice?

The thirty days run from acceptance, and acceptance depends on a signed certificate. The certificate depends on a complete set of documents for the materials installed.

So a missing document does not only delay a signature — it moves the start of the payment term. A week waiting for a declaration can mean payment a month later.

On projects with staged acceptance each stage has its own cycle. Cash flow is a sequence of those cycles, not one payment at the end.

Is there an advance payment?

The authority may provide for an advance payment, usually against an advance payment guarantee. Whether there is an advance and at what percentage is stated in the contract documents.

An advance changes the whole calculation for procurement. Where there is one, it makes sense to order the long-lead items immediately. Where there is not, deliveries are planned so the material arrives as close as possible to the moment of installation.

What this means for supply

We do not hold your money and do not stand between you and the factory — for the goods you pay the manufacturer directly, on the terms we negotiated.

That is why the payment schedule can be discussed against the project's actual cash flow rather than a template. We know the authority pays after acceptance, and we plan deliveries so that you are not financing a warehouse.

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