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Arbitration costs award – An indefinite claim? By Stacy-Lee Dennis

INTRODUCTION When does a claim for costs arising from an arbitration award become prescribed? This question involves a number of issues under the Prescription Act 68 of 1969 (Prescription Act). In Brompton Body Corporate v Khumalo 2018 (3) SA 347 SA (SCA) (Brompton) it was held that an arbitration award does not create a new …

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Rules on extinctive prescription. Do not wait until it is too late!

Remember that your claim against a debtor can lapse after a certain period of time. This happens in terms of the legal rules on extinctive prescription. What is Prescription? The effect of prescription is that the debt owed to a creditor is extinguished and the creditor can no longer institute action to recover the debt, …

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