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Request for Extension of Payment Deadline or Remission of a Claim

Key Points and Swiss Template in English

Use a Request for an Extension of the Payment Deadline if...

… business operations and liquidity have been severely impacted by the COVID-19 measures imposed by the authorities and the resulting economic downturn

… you have received an invoice and need an extension of the payment deadline

… you are no longer in a position to pay an invoice according to the conditions agreed before the COVID-19 situation

Key points included in a Request for an Extension of the Payment Deadline

Details of your company and the issuer of the invoice
Whether you request an extension of the payment deadline and, if so, until when
Whether a partial or total remission of the claim is requested
Detailed explanation why the issuer of the invoice should accommodate your request

What is a Request for an Extension of the Payment Deadline?

The scale of the measures ordered to stem the spread of the COVID-19 virus and their consequences took most businesses by surprise. Many have seen their cash flow decline as a result. This has left them facing significant short-term payment difficulties and the need to restructure their debts.

Therefore, through this application, a company seeks an arrangement with a creditor to obtain additional payment time and/or debt remission on the grounds that the current circumstances and their consequences were unforeseeable at the time the claim arose.