This diploma thesis deals with development and current legislation regulating time of payment in relation to commercial debts, and collection of creditor's claims both in Czech and European law. The aim of the thesis is to find out how the legislation may influence time of payment and what other factors affect general attitude towards paying commercial debts. The text is divided into eleven chapters. Introductory chapter defines basic terms which are used throughout the thesis, such as obligation and relation between entrepreneurs, time of payment and deferred payment. Second chapter contains overview of legislation related to time of payment and its possible regulation since ABGB until entry of the Czech Republic into the EU. Development of EU legislation is described in chapter three. Fourth chapter contains detailed analysis of current Czech legislation with accent on potentially problematic points. Fifth chapter deals with public-law regulation of time of payment by the means of protection of economic competition. Chapter six contains comparison of selected foreign legislations. Following part of the thesis analyses actual time of payment both in Czech Republic and other European states. Chapter eight identifies reasons for default in payment. Following chapter suggests methods through which the...

隨著經濟市場自由競爭和資本主義的高度發展，一個良好、健全的破產制度是維持國家金融秩序和經濟穩定的重要環節。實務上，當公司陷入財務困難時，通常在進入正式的破產程序前會要求與往來銀行協議非正式的暫緩還款安排。本文以探討小型企業為目標，藉由賽局模型的設定建立兩種制度，並用逆向求導法由最後一期開始求解。討論當企業發生財務危機時，優先與債權銀行協議暫緩清償，將還款日期延至一期投資計畫所需的時間結束之後，與直接進入破產程序，何者才是最適策略。 / Through the free competition of the market and the highly development of capitalism, a solid and sound bankruptcy system is a crucial pillar to sustain the stability of economy and to preclude the financial market from serious crash as well. In practice, usually a firm in financial distress would negotiate with banks an informal arrangement of deferred payment rather than go into a formal bankruptcy process directly. In this paper we focus our study on small firms and set up two systems by means of building model of game theory. Furthermore, we utilize backward induction, which starts from the last period, to obtain the solution. More specifically speaking, we discuss the optimal strategy for distressed firms choosing between a debt negotiation in which the payment date is postponed for one period and going bankruptcy.