The letter of commitment loses its legal effect after three years. The letter of commitment signed by the parties has legal effect, and its legal effect is bound by the statute of limitations. According to the relevant laws and regulations, the limitation of action for requesting protection of civil rights from the people's court is three years.
Conditions for ensuring validity:
1, have the right to dispose of their own rights and interests;
2. The promisor must be mentally mature, with normal age and mental state, and be able to understand what he has done.
3. It must be the true intention of the promisor.
4. It must be a promise made by the promisor in a realistic state.
5. Commitment must occur before the behavior results.
6. Commitment must be understood through behavior.
7. The act shall not exceed the scope promised by the promisor.
When a contract is deemed invalid, it should be distinguished from contracts with pending validity and revocable contracts. A contract with undetermined validity is a contract with undetermined validity at that time and needs ratification. If it is approved, it will be effective. If it fails to approve or refuses to approve within the approval period, it is invalid.
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Legal basis: Article 188 of the Civil Code of People's Republic of China (PRC).
The limitation period for requesting protection of civil rights from the people's court 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.