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Regulation

Prescription of Commercial Debts: Terms and Rules

Certyneo1 min read

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Certyneo

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Extinctive prescription is one of the most feared legal mechanisms in debt collection. When a commercial debt is not claimed within the legal time limit, the debtor can invoke prescription and permanently free themselves from their payment obligation. Understanding prescription rules is therefore essential to preserve your company's rights and secure its cash flow. Under common law, the prescription period is 5 years.

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