Gift certificates and credit receipts

Gift certificates and credit receipts are valid in accordance with the negotiated criteria.

Gift certificates and credit receipts


  • The validity of gift certificates and credit receipts, with respect to the seller and those to whom the seller may assign retail operations, is up to four years from the date of issue, unless otherwise negotiated.
  • The validity of credit receipts may be reduced to as little as one year, according to the guidelines on credit receipts issued by the Ministry of Commerce. If the validity is less than four years, this shall be specifically stated when the credit receipt is issued, as well as on the receipt itself.
  • If a new owner takes over a company, gift certificates and credit receipts shall as previously be valid with respect to the party to whom the seller's retail operation is assigned. If the company is a different company however, no claim may be made.
  • If the seller is declared bankrupt during the term of validity of a gift certificate or credit receipt, a claim may be made on the estate. Such claims, however, are rarely worth much. If a new shop replaces the shop that went bankrupt, no claim may be made on the new shop as it is another company.
  • Gift certificates and credit receipts apply in other respects according to the negotiated criteria

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