GLOSSARY

PRESCRIPTION

25 May 2016 By PDSNET

This is the period of time for which a debt remains valid, after the creditor ceases to demand payment. In terms of the Prescription Act. If the creditor does not demand payment (i.e. by delivering an invoice or letter of demand) then the debt will fall away after three years.



Share this glossary term:

PDSNET offers you everything you need to analyse the Stock Market!

Our mission is to provide accurate and reliable JSE data to all our customers.

Get Started Now