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Federal Decree Law No. 14 of 2020 Amends Some Provisions of the Commercial Transaction Law

Last updated on December 26th, 2020 at 10:14 am The amendments include changing certain provision covering bounced cheques and the issuance of cheques without value, by providing fast, advanced and civil mechanisms to collect the required payments. As per amendment: a)A cheque is due for payment on the date shown thereon as its date of issue. A cheque may not be presented for payment prior to such date. b) Where the consideration for payment is less than the value of the cheque, the drawee shall effect part payment to the extent of the funds available to it, unless the bearer … Continue reading Federal Decree Law No. 14 of 2020 Amends Some Provisions of the Commercial Transaction Law