New Payment Rules Target Large Firms to Boost SME Liquidity in Thailand

Key summary

Starting November 2, 2026, mandatory trade credit guidelines will require large corporations to pay small and medium-sized enterprises (SMEs) within 30 days for agricultural goods or 45 days for general trade. The reforms, published in the Royal Gazette on October 2 by the Trade Competition Commission (TCC), aim to inject at least 250 billion baht into working capital by curbing delayed payments. Deputy Prime Minister and Minister of Commerce Suphajee Suthumpun pushed the initiative, which also mandates a 60-day advance notice for contract changes and shifts the burden of proof in disputes to large buyers. The Thai SME Council's president, Supree Thongphetch, noted that reducing credit cycles from 90 days to 45 days could unlock up to 750 billion baht in total liquidity. Concurrently, the Ministry of Commerce is developing frameworks to regulate commission fees on digital platforms following consultations held on October 21.