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.
Helpful
Helpful
Share
Read Related Answers
Mis diagnosed and wantedly do the surgery sonmany times
Dear client, you can file a complaint of medical negligence under criminal law, consumer protection law and tort law.
The complaint can be filed under sec 304A, 336,337 and 338 of indian penal code.
Y...
Bike Service from Suzuki Authorised Service centre
Dear client, you can file a consumer complaint under consumer protection act, 1986 for breach of duty of care and for the damages occured.
Pg deposit refund
Dear Client,
A dispute between a tenant and landlord is resolved under the state-specific Rent Control Act under which a Rent Controller or Addl Rent Controller is appointed to deal with the dispute a...
Neighbour uses abusive language with children
Dear Client,
In situations where small children playing cricket inadvertently cause the ball to hit a neighbor's roof, it's essential to prioritize open communication and neighborly understanding. Ini...
Litigation as a career
Dear Client,
Becoming a successful litigation lawyer can be achieved through various paths, and there is no strict requirement to practice exclusively under an independent lawyer or within a law firm....
Read Blogs on Commercial
Commercial Lawyers
Find Lawyers by Location