Payment deadlines and penalties

Invoice payment due term is 15 calendar days from issuance date. Invoice grace period is 30 calendar days from due date expiry, meaning 45 calendar days from invoice issuance date. For invoices paid within the grace period, no delay penalties are calculated. For amounts unpaid after the grace period, delay penalties are calculated, equal to the interest owed for not paying in due term the state budget obligations, set according to legal provisions (0,02% per day). Penalties are owed starting with the first day after due term expiry (16 days from invoice issuance date). 

Calculation example 
A 50,00 lei invoice is issued on March 31st, 2012.
Invoice due term is: April 15th, 2012. 
If the invoice is paid on April 13th, 2012 (before due term expiry), no delay penalties are calculated. 
If the invoice is paid on April 23rd, 2012 (after due term expiry, but before grace period expiration), no delay penalties are calculated. 
If the invoice is paid on May 16th, 2012 (after grace period expiration, 31 calendar days after due term expiry), delay penalties are calculated as 0,02% of invoice value, for 31 days: 0,31 lei = 31 x (50,00 x 0,0002).