Commercial Transactions Law

The commercial transactions draft law aims to address challenges to the legal framework of commercial transactions, and was developed in light of leading international practices and in cooperation with relevant international organizations, in order to study opportunities and areas of development. The draft law includes provisions regulating the conduct of business; In addition, it includes provisions related to the merchant's obligations and the commercial obligations in general. Among the most prominent features of the draft is that it regulates commercial contracts. For the commercial sale contract, liquidation sale contract, public auction contract, supply sale contract, brokering contract, commercial representation contract, commercial agency contract. The draft also addresses the subject of negotiable instrument, defines them, indicates their types, and specifies their related provisions. It includes provisions on bills of exchange, checks and promissory notes.