Following the decriminalization and subsequent removal of criminal provisions from the UAE penal code, there has been a notable enhancement in the management of bounced cheques within the UAE. The arduous process of initiating civil suits, bearing court fees, and enduring prolonged legal proceedings has been streamlined. Cheque holders now possess the authority to directly instigate execution proceedings and promptly impose travel restrictions, thereby deterring debtors from evading their financial obligations by leaving the country. In instances involving corporate entities, travel restrictions can be imposed on the signatory of the cheque, with the ability to freeze the company's assets and bank accounts. Both the company and the signatory are held jointly and severally liable for the settlement of dues.
在 旅行
Concept Advocates | Business Consultants LLC
2024年1月21日