law: The Micro, Small and Medium Enterprises Development Act, 2006 
  Chapter V Delayed
  
  Payments to Micro and Small Enterprises
  15. Liability of
  
  buyer to make payment.-
  Where any supplier,
  
  supplies any goods or renders any services to any buyer, the buyer shall make
  
  payment therefore on or before the date agreed upon between him and the
  
  supplier in writing or, where there is no agreement in this behalf, before the
  
  appointed day: Provided that in no case the period agreed upon between the
  
  supplier and the buyer in writing shall exceed forty-five days from the day of
  
  acceptance or the day of deemed acceptance.