Limitation Periods for Commercial Debts

Spanish law sets limitation periods within which creditors must act; allowing the period to lapse may bar judicial recovery. The general limitation period for personal (contractual) actions is five years, under Article 1964.2 of the Civil Code, as amended by Law 42/2015. Certain sectors are subject to shorter periods: claims arising from a contract for the carriage of goods, for example, are generally subject to a one-year period (Article 79 of Law 15/2009, and the CMR Convention in international carriage).

Limitation can be interrupted by a formal out-of-court demand, by legal action or by the debtor's acknowledgement of the debt (Article 1973 of the Civil Code), which makes early action important. Because the applicable period depends on the nature of the claim, creditors are advised to verify it as soon as payment difficulties arise.

We confirm the limitation period applicable to each claim and act in time to interrupt it, typically by a documented burofax, before recovery rights are lost.