The French Parliament passes a new law on trade negotiations (Loi de modernisation de l’économie)

1. The Law on the Modernization of the Economy (LME)was passed on 23 July 2008. It provides for numerous provisions. Some of them amend French legislation applicable to trade negotiations between suppliers and distributors. LME was presented as the last step of the reform of legislation in terms of trade relations between suppliers and distributors. This reform concerns several essential points. It now authorizes the negotiability of the general terms and conditions of sale of suppliers, cancels the per se prohibition of discriminatory practices and modifies the rules relating to contractual formalities of trade negotiations. Finally, it strictly governs the terms of payment and modifies the list of offences and sanctions provided for in article L. 442-6 of the French Commercial

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Léna Sersiron, Mireille Dany, The French Parliament passes a new law on trade negotiations (Loi de modernisation de l’économie), 23 juillet 2007, e-Competitions July 2007, Art. N° 20828

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