Document background
The Time Waiver agreement is a crucial document used in Swiss legal practice when parties need to extend or waive statutory limitation periods for specific claims or obligations. This document becomes particularly relevant when approaching the end of limitation periods, during complex negotiations, or in situations where parties need additional time to resolve disputes or fulfill obligations. The Time Waiver must carefully comply with Swiss law requirements, particularly the Swiss Code of Obligations (OR) Articles 127-142, which govern limitation periods and their modification. The document specifies the original obligation, identifies all relevant parties, and clearly outlines the scope and duration of the waiver. It's essential to note that while Swiss law generally allows parties to modify limitation periods, certain restrictions apply to protect public interest and prevent abuse.
