Statute of Limitations

In order not to lose claims due to limitation periods it is important to be aware of related limitation periods.

Following a reform of the law governing limitation periods, the usual limitation period is 3 years, in the case of property claims 10 years.

The limitation date commences at the end of the year in which the claim arose. If goods were supplied to a costumer in 2003, then the 3-year limitation date starts on 01.01.2004 and ends on 31.12.2007.

Also barred after 30 years under the Statute of Limitations are, amongst others, legally valid claims (judgments, enforcement orders) as well as settlements or enforceable certificates. Limitation periods start again when the debtor acknowledges the creditor’s claim by means of a

• deposit,
• interest payment
• surety
• or otherwise.

In principle the limitation period becomes applicable again by applying or executing an enforcement order issued by the court or an official authority.

The limitation period can also be suspended e.g. from the moment the creditor and debtor agree to payment in instalments. As opposed to a new start of the limitation period, a suspension only extends the limitation period for the duration of the suspension itself.

Debt Collecting Glossary

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