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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

*This content does not constitute solicitation or provision of legal advice. This content should not be used as a substitute for obtaining legal advice regarding debt collection or other types of matters from an attorney licensed or authorized to practice in the relevant jurisdiction. You should always consult a suitably qualified lawyer regarding any specific legal problem or matter. The content herein is not intended to and does not create an attorney-client relationship and is not legal advice. Neither the transmission of the information contained herein nor the use of the information creates an attorney-client relationship between an individual or entity and the law firm Spector & Bennett, A Professional Corporation (50 California Street, 15th Floor, San Francisco, CA 94111; 1800 Century Park East, Suite 600, Los Angeles, CA 90067), or any attorney or employee affiliated therewith. The foregoing information is of a general survey nature, and may not be applicable to or accurate concerning any particular matter or situation.

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