Acknowledgement of debt template
A written acknowledgement of a debt with a payment date or instalments; extends the limitation period to ten years
This document rests on a fixed pattern prepared by Paragrafo; it is not a law firm template. Its wording is not written by AI, only the details from the form are filled in. For a non-standard situation we recommend a solicitor.
Law in force as at
Uznanie dlhu
- I. Dlžník
- II. Veriteľ
- III. Uznanie dlhu
- IV. Zaplatenie dlhu
- V. Následky uznania
- VI. Záverečné ustanovenia
With an acknowledgement of debt the debtor confirms in writing that they owe the creditor a certain sum for a certain reason and that they will pay it. The law then presumes that the debt existed at the time of the acknowledgement.
A written acknowledgement as to the basis and amount also changes limitation. The general limitation period is three years; an acknowledged debt becomes time-barred after ten years from the acknowledgement, or, if the acknowledgement sets a time for payment, from the end of that time.
A time-barred debt can also be acknowledged. The acknowledgement has this effect, however, only if the debtor knew of the limitation.
Who needs this document
- A creditor owed money by an acquaintance or relative who wants the debt confirmed in writing
- A creditor whose three-year limitation period is coming to an end
- A debtor and creditor who have agreed that the debt will be paid in instalments
- Parties who, after their cooperation ends, want the remaining debt quantified and confirmed
What the document must contain
- Precise identification of the debtor and the creditor
- The amount of the debt
- The basis on which the debt arose, so that it cannot be confused with another debt
- The debtor's statement that they will pay the debt
- The payment date or instalments
- The debtor's signature; with an instalment agreement, the creditor's as well
Legal basis
Občiansky zákonník (Civil Code)
Governs the acknowledgement of debt and its consequences, the limitation of an acknowledged debt, payment in instalments and acceleration when an instalment is missed.
Obchodný zákonník (Commercial Code)
Governs the acknowledgement of an obligation between businesses in their business activity, with different consequences for limitation. This template is not meant for such an obligation.
Most common mistakes
An acknowledgement without a basis or an amount
Only a debt determined as to its basis and amount has the consequences of an acknowledgement. "I owe you money" is not enough; the acknowledgement must make clear how much the debtor owes and why.
An oral acknowledgement only
An acknowledgement of debt must be in writing. An oral admission of a debt does not have the consequences the law attaches to a written acknowledgement, including for limitation.
A time-barred debt without the debtor's statement
For a time-barred debt, the acknowledgement has its consequences only if the debtor knew of the limitation. A statement in the acknowledgement that they know is the simplest proof that they did.
Instalments without the creditor's signature
Paying a debt that is already due in instalments is an agreement, so the creditor signs it too. If the debtor is also to pay default interest in the instalments, this must be expressly agreed.
Instalments without an agreement on the whole remainder
The creditor may demand the whole claim because an instalment was not paid only if that was agreed. Even then, the creditor may use this right no later than the due date of the next instalment.
This template between businesses
Between businesses in their business activity, an acknowledgement of an obligation has effect even when the claim was already time-barred, and a new four-year limitation period runs from the acknowledgement. The consequences set out in this template follow the Civil Code.
Frequently asked questions
Does an acknowledgement of debt have to be in writing?
Yes. The consequences of an acknowledgement, that is, the presumption that the debt existed and the ten-year limitation period, apply only to a written acknowledgement of a debt determined as to its basis and amount.
How does an acknowledgement affect limitation?
Instead of the general three-year period, an acknowledged debt becomes time-barred after ten years from the acknowledgement. If the acknowledgement sets a time for payment, the ten years run from the end of that time, and with instalments, from the due date of each instalment.
Can I acknowledge a debt that is already time-barred?
Yes, but an acknowledgement of a time-barred debt has its consequences only if the debtor knew of the limitation. That knowledge should therefore be stated expressly in the acknowledgement.
Is an acknowledgement of debt the same as an instalment agreement?
No. An acknowledgement is the debtor's unilateral declaration, while an instalment agreement is concluded between the debtor and the creditor. If you choose instalments in the template, you get one document with both parts, signed by both parties.
What if the debtor still does not pay after the acknowledgement?
They are in default, and the creditor may demand default interest in addition to the debt. The acknowledgement helps the creditor enforce it, because the debt is presumed to have existed at the time of the acknowledgement.
Acknowledgement of debt for your business
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