What if the factory defaults on payment?

Legal analysis: 1. It is suggested to sue the court for repayment as soon as possible. Once the statute of limitations is exceeded, the right to win the lawsuit is lost; 2. After winning the case, if the other party fails to perform the court judgment during the performance period, it may apply to the court for enforcement; 3. After accepting the enforcement, the court will inquire about the property, vehicles, securities and deposits under the debtor's name according to law; 4. In addition, there is no executable property in his name and he refuses to execute the effective judgment of the court, so his personal credit report will contain negative information such as overdue payment, and will be restricted from high consumption and entry and exit, and may even be punished by judicial custody.

Legal basis: Article 188 of the Civil Law of People's Republic of China (PRC) requests the people's court to protect civil rights, and the limitation of action is three years. Where there are other provisions in the law, those provisions shall prevail.

The limitation period of action shall be counted from the date when the creditor knows or should know that the right is damaged and the debtor knows it. Where there are other provisions in the law, those provisions shall prevail. However, the people's court shall not protect the rights that have been damaged for more than 20 years. Under special circumstances, the people's court may decide to extend the time according to the application of the obligee.

People's Republic of China (PRC) Civil Procedure Law

Article 119 A prosecution must meet the following conditions:

(1) The plaintiff is a citizen, legal person and other organization that has a direct interest in the case;

(2) Having a clear defendant;

(3) Having specific requests, facts and reasons;

(4) It falls within the scope of civil litigation accepted by the people's court and is under the jurisdiction of the sued people's court.

Article 236 A legally effective civil judgment or written order must be fulfilled by the parties. If one party refuses to perform, the other party may apply to the people's court for execution, or the judge may transfer it to the person subjected to execution for execution. Mediation and other legal documents that should be executed by the people's court must be fulfilled by the parties. If one party refuses to perform, the other party may apply to the people's court for execution.