Operation of the Observatory of payment terms:

Excerpt from decree No. 2-17-696 of November 30th, 2017 (BO of 18 December 2017) on the functioning and composition of the Observatory of payment deadlines:

ART. 2. - The chairman may invite to the meetings of the observatory individuals chosen according to their qualifications or their particular interest in payment terms.

ART. 3. - The observatory meets at the invitation of its president, at least once a year and as many times as necessary.

The President sets the agenda for the meetings of the observatory.

The observatory approves the annual program of its activities

The secretariat of the observatory is provided by the Directorate of Public Enterprises and Privatization under the Ministry of Economy and Finance.

ART. 4. - The observatory deliberates validly when at least half of its members are present.

ART. 5. - The decisions of the observatory shall be adopted by a majority of the votes of the members present and, in case of a tie, the chairman shall have the casting vote.

ART. 6. - The proceedings of the observatory and its decisions are reflected in records signed by its present members.

ART. 7. - The observatory establishes its rules of procedure, which sets out in particular the organization of its work.

ART. 8. - The Observatory publishes each year a report including a review of the evolution of the companies' practices in terms of payment terms.

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