Bounced cheques in the UAE: What amended law means for defaulters ...United Arab Emirates

Dubai: The new amendment to the UAE’s Commercial Transaction Law gives power to the court to suspend the trade licence of a defaulting company for six months. As bounced cheque issues arise in various circumstances like personal or individual transactions, purchases, commercial transactions, bank loans, property rents, etc, the new amendments will preserve the cheque beneficiary’s rights by considering the cheque as an executive deed, which fast track the collection process through the civil court. Last year, the UAE Cabinet amended certain provisions of Federal Law No 18 of 1993, the Commercial Transactions Law, including those related to bounced cheques. As part of reducing delay for the

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