SAUDI ARABIA: Draft new Saudi Commercial Transactions Law (“Commercial Code”).
Saudi Arabia continues to overhaul and modernise its legal system in (commercial) contract matters: Following the entry into force of the Commercial Franchise Regulations (Franchise Law) in 2019 (see IDI Newsletter November 2019), the Civil Transaction Regulations (Saudi Arabia’s first “Civil Code”) was enacted recently by Royal Decree M/191 of 29/11/1444H. (18 June 2023) and […]