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Workshop highlights changes to laws governing bounced cheques in UAE
Dubai Chamber regularly organises training seminars and workshops to raise awareness about important matters and issues impacting the business community in Dubai
Organised by the Dubai Chamber of Commerce and Ince, the legal workshop was attended by 73 participants representing various economic sectors
The practical aspects related to the Commercial Transactions Law, which came into effect January 2, 2022, including the debt collection mechanism available in and out of the court system, were recently discussed at a workshop by the Dubai Chamber of Commerce.
The workshop, in cooperation with Ince, also highlighted recent changes made to the laws governing bounced cheques in the UAE. The workshop was attended by 73 participants, including Dubai Chamber of Commerce members, business owners, general managers, lawyers, legal professionals, corporate counsel, risk and compliance professionals, investors and contract administrators representing a wide range of economic sectors.
The session was moderated by Rita Al Semaani Jansen, partner, Ince; and Monika Humphreys-Davies, senior associate, Ince; who spoke about important legal aspects related to the decriminalization of bounced cheques; exceptions and penalties for issuing bounced cheques; advanced commercial mechanisms introduced to ensure commercial stability; litigation and debt recovery avenues in the UAE; as well as tips on how to reduce the risk of non-payment.
Jehad Kazim, VP of Legal Services at Dubai Chamber, said the workshop was organised as part of the chamber’s efforts to keep its members and the business community informed of existing UAE laws applying to various economic sectors and provide the right platforms for business leaders and professionals to have their questions answered by legal experts.
Rita Al Semaani Jansen said the event generated a lot of interest among Dubai’s business community. She noted that attendees gained practical knowledge on how bounced cheques are treated nowadays in UAE courts, as well as how businesses can reduce the risk of non-payment.
Dubai Chamber regularly organises training seminars and workshops to raise awareness about important matters and issues impacting the business community in Dubai. These events fall in line with its strategic objectives of creating a favourable business environment and supporting business growth in the emirate.
business@khaleejtimes.com
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