Country: Taiwan
Commercial Debt Collections Limitation Period: Generally 2 years for both oral and written debts, 1 year for freight claims and 3 years for monies owed under a promissory note.
Resetting of Statutes of Limitations: Debtor’s acknowledgment of debt generally resets Statute of Limitations
Time Limits on Judgment Enforcement: Generally 5 years
Country: Hong Kong
Commercial Debt Limitation Period: 6 years
Resetting of Statutes of Limitations: Generally does not reset
Time Limits on Judgment Enforcement: Generally 12 years
Country: People’s Republic of China
Commercial Debt Limitation Period: Generally 2 years
Resetting of Statutes of Limitations: Upon creditor making formal demand or debtor’s acknowledgment of debt
Time Limits on Judgment Enforcement: Generally 2 years
Country: India
Commercial Debt Limitation Period: Generally 3 years
Resetting of Statutes of Limitations: Upon partial payment or acknowledgment of debt
Time Limits on Judgment Enforcement: 12 years
Country: Pakistan
Commercial Debt Limitation Period: 3 years
Resetting of Statutes of Limitations: Upon acknowledgment of debt
Time Limits on Judgment Enforcement: 6 years
Country: Indonesia
Commercial Debt Limitation Period: Generally 30 years
Resetting of Statutes of Limitations: Generally upon acknowledgment of debt, although the law is somewhat unclear as to the mechanism and/or time frames regarding resetting
Time Limits on Judgment Enforcement: No specific time frame
Country: Malaysia
Commercial Debt Limitation Period: Generally 6 years
Resetting of Statutes of Limitations: Upon acknowledgment of debt
Time Limits on Judgment Enforcement: 12 years
Country: Singapore
Commercial Debt Limitation Period: 6 years
Resetting of Statutes of Limitations: Upon acknowledgment of debt
Time Limits on Judgment Enforcement: 12 years
Country: Philippines
Commercial Debt Limitation Period: Generally 10 years for written contracts and 6 years for oral contracts
Resetting of Statutes of Limitations: Upon creditor making formal written demand or debtor’s written acknowledgment of debt
Time Limits on Judgment Enforcement: Generally 5 years
Country: Japan
Commercial Debt Limitation Period: Generally 5 years
Resetting of Statutes of Limitations: Upon debtor’s acknowledgment of debt
Time Limits on Judgment Enforcement: 10 years
Country: South Korea
Commercial Debt Limitation Period: Generally 5 years
Resetting of Statutes of Limitations: Upon debtor’s acknowledgment of debt
Time Limits on Judgment Enforcement: Generally no limitation
Country: Thailand
Commercial Debt Limitation Period: 2 years
Resetting of Statutes of Limitations: Upon debtor’s written acknowledgment of debt or the making of a partial payment
Time Limits on Judgment Enforcement: Generally 10 years
Country: Vietnam
Commercial Debt Limitation Period: Generally 2 years
Resetting of Statutes of Limitations: Upon debtor’s acknowledgment of debt
Time Limits on Judgment Enforcement: Generally 5 years
Country: Russia (Russia will also appear in the upcoming European edition of this guide – Approximately 75% of Russia’s land mass is in Asia, while approximately 75% of Russia’s population is in Europe)
Commercial Debt Limitation Period: Generally 3 years
Resetting of Statutes of Limitations: Upon debtor’s written acknowledgment of debt
Time Limits on Judgment Enforcement: None, per se, while an enforcement order must be renewed every 3 years
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