However, the limitation of action for repayment disputes is three years, counting from the day when the creditor knows or should know that his rights have been damaged and the debtor knows. However, if his rights are damaged for more than 20 years, the people's court will no longer protect him. If there are special circumstances, he can apply for an extension.

How to effectively write the debt contract agreement

Party A (Borrower):

Party A's ID number:

Party B (Lender):

Party B's ID number: On the basis of equality, voluntariness and consensus, Party A and Party B have reached the following agreement on loan matters for both parties to abide by.

Party B lent Party A RMB (in words) and delivered it to Party A a few days ago.

Loan interest:

Loan term:

Date of repayment: year month day. Repayment method: cash payment.

Liability for breach of contract:

1, the borrower's liability for breach of contract

If the borrower fails to use the loan according to the purpose stipulated in the contract, the lender has the right to recover part or all of the loan, and charge default interest at the interest rate stipulated by the bank for the part used in violation of the contract.

If the borrower fails to repay the loan within the time limit, the lender has the right to recover the loan and charge 1% interest on a daily basis from the due date. If the borrower uses the loan to cause losses and waste or uses the loan contract to engage in illegal activities, the lender shall recover the loan principal and interest, and the relevant units shall investigate the administrative and economic responsibilities of the person directly responsible. If the circumstances are serious, criminal responsibility shall be investigated by judicial organs.

2, the lender's liability for breach of contract

(1) If the lender fails to provide the loan on schedule, it shall pay the borrower liquidated damages according to the amount of default and the number of days of delay. The calculation of the amount of liquidated damages is the same as that of the borrower's penalty interest.

(2) those who use the loan contract for illegal activities shall be investigated for administrative and economic responsibilities. If the circumstances are serious, criminal responsibility shall be investigated by judicial organs.

Dispute settlement: both parties shall settle the dispute through consultation; If negotiation fails, it shall be submitted to the people's court. This contract will come into effect. This contract is made in duplicate, each party holds one copy, and the contract text has the same legal effect.

Party A (signature and seal and copy of ID card):

Party B (signature and seal with copy of ID card):

Date of signing the contract: year month day.

Legal basis:

People's Republic of China (PRC) Civil Code

Article 188 The limitation period of ordinary litigation and the longest period of rights protection shall be 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, the people's court shall not protect the rights that have been damaged for more than 20 years. Under special circumstances, the people's court may decide to extend the time according to the application of the obligee.