Grocery rules that provide ‘safeguard’ for suppliers signed into law

New regulations aimed at protecting suppliers and rebalancing relationship with major retailers and wholesalers have been signed into law.

The long-awaited regulations will place a number of responsibilities on retailers and wholesalers with worldwide turnover of €50m or more, in order to protect their suppliers.

One of the key requirements is all new or renewed contracts between retailers or wholesalers and suppliers will have to put in writing, while suppliers must also be paid within 30 days.