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48
The maximum payment period applicable to the Parent under Law 3/2004, of 29 December,
on combating late payment in commercial transactions and pursuant to the transitional
provisions contained in Law 15/2010, of 5 July, was 60 days in 2014 (2013: 60 days).
The detail of the amounts paid and payable at 31 December 2014 is as follows (in thousands
of euros):
The detail of the amounts paid and payable at 31 December 2013 is as follows (in thousands
of euros):
Weighted average period of late payment was calculated as the quotient whose numerator is
the result of multiplying the payments made to suppliers outside the maximum payment
period by the number of days of late payment and whose denominator is the total amount of
the payments made in the year outside the maximum payment period.
16.
Other guarantee commitments to third parties and contingent assets and liabilities
a)
Guarantee commitments to third parties
The detail of the guarantees provided by the Group to banks for third- and related parties is as
follows:
Thousands of euros
2014
2013
Group companies and associates
2,641
5,466
Other guarantees
10,985
868
13,868
868
Total
13,626
19,334
The Parent’s directors consider that any liabilities not foreseen at 31 December 2014 that
might arise from the guarantees provided would not be material.
Amount
%
Within the maximum payment period
249,896
43%
Remainder
326,033
57%
Total payments made in 2014
575,929
Weighted average period of late payment (in days)
48
Payments at year-end not made in the maximum payment period
33,215
Amount
%
Within the maximum payment period
230,546
38%
Remainder
371,564
62%
Total payments made in 2013
602,110
Weighted average period of late payment (in days)
47
Payments at year-end not made in the maximum payment period
38,355