Explanation of the term limitation waiver
Contractual claims against customers generally expire after 10 years at the latest. Certain contractual claims become statute-barred after the expiry of 5 years, e.g. claims arising from craftsmanship. If you set up a limitation waiver, you can avoid expensive litigation. The limitation waiver merely prevents the demand from becoming time-barred: The demand is therefore not lost and a common solution can be sought with the debtor. Attached you will find a sample limitation waiver.