What is it used for?
Typically, companies reconcile data against specific contracts or invoices for a specific period of time. The purpose of drawing up a reconciliation report is to find and record discrepancies in all cash receipts.
Identified debt helps the parties agree on the timing of its repayment. The reconciliation act together with the contract, invoices, invoices will confirm the violation of deadlines when going to court.
An act of reconciliation of mutual settlements must be drawn up annually in order to repay debts, if any. Article 196 of the Civil Code establishes the limitation period for cases related to debt repayment. And according to Art. 200 of the Civil Code of the Russian Federation, you can file an application with the court no later than three years from the date of discovery of the debt.
If you do nothing within three years, the debtor in court may argue that the statute of limitations has expired. The court will rule in his favor, and you will not get your money.
The limitation period can be interrupted. To do this, you need to draw up and sign a reconciliation report within three years after the debt arose. If the debtor who signed the deed has not paid the debt, then you can go to court, which will make a decision to interrupt the statute of limitations. And you will have three more years to collect the debt.
