Maturity (finance)

Maturity is a legal term that designates the time can make a claim from the from a creditor and the debtor must meet him. This time is usually contractually - but also by law, for example, in the tax or social security law - regulated, but may also arise from the circumstances. In Germany, the maturity of the debt is governed by the law of obligations, in Switzerland in the Swiss Code of Obligations.

Law of Obligations

If the parties have not determined a time and there is the maturity not from the circumstances, then the creditor can claim immediate payment in German law pursuant to § 271 Section 1 BGB, if he has not given his part of the consideration. If the parties have a date determined, the debtor may maintain its performance usually provide previously ( § 271 para 2 BGB). Before the due date, the creditor can demand nothing but. If the obligor on maturity of power in this, he may be in default. The prerequisite for this is a request for payment. Under special circumstances, however, the need for a request for payment is dispensed with and he immediately in default. This applies if the performance was dedicated to a particular calendar date, the debtor refuses performance or is it justified weighing the interests of the creditor and debtor ( § 286 BGB).

Of default, late payment penalties and / or late fees are regularly charged in the case, and is a possible delay damage compensate.

The maturity ( Time of performance ) is in Germany, not only for the assertion of a legal claim of significance, but also for the beginning of the limitation period.

Obligations

In the Swiss law of obligations with respect to the maturity Art to note 75 OR. The outbreak of bankruptcy caused by the way in principle to the due date of the debt of the bankrupt (Art. 208 para 1 DCBA ).