UNCLP UN Limitation Convention (1974)
UNCLP
UN Limitation Convention (1974)
1. Subject to the provisions of paragraph 2 of this article and of article 24, no claim shall be recognized or enforced in any legal proceedings commenced after the expiration of the limitation period.
2. Notwithstanding the expiration of the limitation period, one party may rely on his claim as a defence or for the purpose of set-off against a claim asserted by the other party, provided that in the latter case this may only be done:
(a) if both claims relate to the same contract or to several contracts concluded in the course of the same transaction; or
(b) if the claims could have been set-off at any time before the expiration of the limitation period.
Import: