MSME Matter
4 years ago
As per MSME Act, payment to a given vendor is to be made within 45 days. One of my MSME vendors has agreed for the payment through 60 days usance LC. Kindly let me know if this payment term attracts any legal complication and/ or dispute as per the provision of MSME Act for payment within 45 days to a MSME vendor.
Regards,
Shreyash Mohta
Responded 4 years ago
A.There will be legal complications only if the vendor does not pay. If there is an option to chose between two payment time durations, both the parties can agree on either of the one which suits them.
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