The loan contract may or may not stipulate the repayment period. No matter how agreed, this contract is legally binding. But the legal consequences of the two are different. If the repayment period is agreed, the lender must claim repayment from the borrower within three years from the expiration of the repayment period, otherwise the right to win the case after the limitation of action may be lost. Of course, the way to claim compensation from the borrower is not limited to litigation. It could be a phone call. Send a WeChat, or ask the other party to pay part of the interest first, as long as it can prove that they claim their rights. If there is no agreed repayment period, the borrower can be required to repay the principal and interest of the loan at any time, not the general statute of limitations of three years, but the longest statute of limitations of twenty years. In other words, if there is no agreed repayment period, as long as the borrower claims rights to the other party within 20 years, there will be no statute of limitations.

How long will the new house loan contract expire?

The loan contract for the new house expires in three months.

According to Article 94 of the Contract Law, if the seller delays the delivery of the house or the buyer delays the payment of the house price and fails to perform it within a reasonable period of three months after being urged, if one party requests to terminate the contract, it shall be supported, unless otherwise agreed by the parties.

If there is no law or agreement between the parties, the reasonable time limit for exercising the right of cancellation is three months after the other party's demand. If the other party fails to ask for a notice, the cancellation right shall be exercised within one year from the date of the cancellation right. If it is not exercised within the time limit, the right of revocation shall be extinguished.

How long is the loan contract valid?

The term of validity of the loan contract is permanent, but the limitation of action for the loan is three years, counting from the day when the creditor knows or should know that his rights are damaged and the debtor knows. However, if the right is damaged for more than 20 years, the people will no longer protect it. Under special circumstances, they can apply for an extension.

legal ground

Article 188 of the Civil Code

The limitation period for requesting protection of civil rights from the people is three years. Where there are other provisions in the law, those provisions shall prevail.

The limitation period of action shall be counted from the date when the creditor knows or should know that the right is damaged and the debtor knows it. Where there are other provisions in the law, those provisions shall prevail. However, if more than 20 years have passed since the right was damaged, people will not protect it. Under special circumstances, the people can decide to postpone the time according to the application of the obligee.

How long is the loan contract valid?

The term of validity of a loan contract refers to the statute of limitations of the loan contract, which is generally three years from the date when you know or should know that your rights have been infringed. According to Article 188 of the Civil Code, the limitation period for claiming protection of civil rights from the people is three years. Where there are other provisions in the law, those provisions shall prevail. The limitation period of action shall be counted from the date when the creditor knows or should know that the right is damaged and the debtor knows it. Where there are other provisions in the law, those provisions shall prevail. However, if more than 20 years have passed since the right was damaged, people will not protect it. Under special circumstances, the people can decide to postpone the time according to the application of the obligee. Article 188 of the Civil Code stipulates that the limitation period for claiming protection of civil rights from the people is three years. Where there are other provisions in the law, those provisions shall prevail. The limitation period of action shall be counted from the date when the creditor knows or should know that the right is damaged and the debtor knows it. Where there are other provisions in the law, those provisions shall prevail. However, if more than 20 years have passed since the right was damaged, people will not protect it. Under special circumstances, the people can decide to postpone the time according to the application of the obligee.

The loan contract of a small loan company has expired for several years.

Generally, the maturity period of the private loan guarantee contract is 6 months, and the joint guarantee is 2 years. It will be invalid after this time. If it does not exceed this time, it is still valid. On the premise that the debtor is unable to repay, the creditor still has the right to recover from the guarantor.

How long is the loan contract valid?

The so-called term of validity refers to the limitation of action, which will be protected according to law after expiration. However, exceeding the limitation of action will lead to the loss of the right to win the lawsuit.

The repayment date is stipulated in the loan agreement. If the debtor fails to repay the loan three years after the date of repayment, and there is no reason for the interruption of the limitation of action, it shall be regarded as exceeding the limitation of action. It can be simply understood that the arrears should be paid off within three years.

If the repayment date is not agreed on the IOU, and as long as the creditor does not ask the debtor to pay off the debt or the debtor does not refuse to perform it, it is deemed that the creditor's rights have not been infringed, and the statute of limitations does not count at this time. In other words, the lender can ask the borrower at any time, without limitation of action, but it should exercise its rights within the protection period of 20 years at the longest.

However, if the loan agreement really expires, it does not mean that the lawsuit will not be accepted. You can still try your case according to law, but the risk is that if the other party raises the defense of limitation of action, you may lose the right to win the lawsuit. However, if the debtor voluntarily performs his obligations, the creditor can get benefits. Moreover, if both parties reach a repayment agreement on the original debt within the limitation period, it shall be protected according to law.

Legal basis:

Article 188 of the Civil Law of People's Republic of China (PRC) stipulates that the limitation period for claiming protection of civil rights from the people is three years. Where there are other provisions in the law, those provisions shall prevail. The limitation period of action shall be counted from the date when the creditor knows or should know that the right is damaged and the debtor knows it. Where there are other provisions in the law, those provisions shall prevail. However, if more than 20 years have passed since the right was damaged, people will not protect it. Under special circumstances, the people can decide to postpone the time according to the application of the obligee.