How long is a signed quote valid?
Questioner
How long is a signed quotation valid? If both parties have not heard from each other for 4 years and then the seller suddenly wants to execute his order. The buyer actually wanted to cancel the agreement and the seller has not taken any action to deliver earlier. It concerns a product. Both parties have let the agreement lapse. Can the buyer then invoke the prescription of the purchase agreement? So it is not about the prescription of a sent invoice.Lawyer
Article 221 of Book 6 of the Civil Code provides the answer. A written offer expires if it is not accepted within a reasonable period. If it is not a football stadium or something similarly large, you can assume that an offer has expired after 4 years. Tip: To avoid these types of discussions, always include a term after which the offer will expire.Questioner
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