Finland - Time Bars
18/01/2017
According to the general principle of law debts shall be time bared if the creditor does not demand settlement within a reasonable time. Rules to shorten the limitation periods are implemented in Finnish legislation. The general law on time bar applicable to debts and other obligations are laid down in law 2003/728 Act on Limitations on debts. These general rules are applicable to all sorts of obligations (money, goods, services, damages, indemnities etc.) but do only apply if no special regulations on time bar are stipulated elsewhere in the legislation.
BWMC 2004- Update September 2016
09/09/2016
The IMO has announced that the Convention will enter into force on 8th September 2017 after Finland's ratification of the treaty brings the combined tonnage of contracting States to 35.1441%