Attention: Statute of limitations!
December 31st is an important cut-off date for legal transactions. Until then, the period of limitation for claims is also ticking.
It usually lasts three years. This means that those who still have payment claims - for example from unpaid invoices - may have to hurry. The claims do not expire. But the debtor can refuse to pay the claim from the beginning of the fourth year (the year, not the actual date).
The creditor is then dependent on the good will of his customer, but has no further means of recourse to enforce his claim.
(Source: www.inkasso.de)
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