The payment observatory data is compiled monthly by the Spanish transport organization Fenadismer in cooperation with the Quijote Foundation. The latest statistics confirm a positive trend in reducing payment delays throughout 2024.
“In December, the average payment term was 63 days—20 days shorter than in 2021, when the late payment sanctions system in the road transport sector was introduced,” the Spanish association stated in an official announcement.
In the last month of 2023, the proportion of shippers and intermediaries failing to pay for transport services within the legally permitted 60-day period fell to 48%. Among those in arrears, 73% delayed payments by 60 to 90 days, while 6% had outstanding payments between 90 and 120 days. This marks a significant improvement from 2022, when more than 20% of payments were overdue by this extent.
Credit rating downgrades
Fenadismer also highlights that agencies specializing in corporate solvency assessments are lowering the ratings of companies fined for failing to meet transport payment deadlines.
“The economic sanctions imposed on shippers and intermediaries who do not comply with road transport payment regulations are now accompanied by an additional penalty. The leading corporate solvency assessment agencies downgrade the ratings of companies listed on the Ministry of Transport’s blacklist of transport debtors, which is published every six months,” Fenadismer stated.
Tougher penalties and public blacklist
In October 2021, Spain introduced legislation imposing fines for late payments in the transport sector.
- The standard fine for overdue payments is €6,000.
- For repeated violations, fines can reach up to €30,000.
Under Spanish law, exceeding the statutory payment deadline is classified as a serious breach if the debtor is not a consumer and the transport cost is €3,000 or less. If the transport cost exceeds €3,000, the violation is considered very serious.
Fine structure for late payments
The penalties for overdue payments depend on the amount due:
- €401 to €600 for transport costs below €1,000
- €601 to €800 for transport costs between €1,000 and €1,500
- €801 to €1,000 for transport costs between €1,501 and €3,000
- €1,001 to €2,000 for transport costs between €3,001 and €4,000
- €2,001 to €4,000 for transport costs between €4,001 and €6,000
- €4,001 to €6,000 for transport costs above €6,000
- €6,001 to €18,000 if the offender has previously been sanctioned for another very serious violation within the past 12 months.
If a payment delay significantly impacts the creditor’s solvency or exceeds the legal deadline by more than 120 days, the fine may be increased to €30,000.
Since the introduction of this special law (lex specialis), the Spanish Ministry of Transport has regularly published a list of companies fined for exceeding legal payment deadlines. The most recent list, from November 2023, included 548 companies, which received 626 sanctions totaling €1.95 million. The fines ranged from €701 to a maximum of €32,000.