According to the latest amendments to Federal Commercial Transaction Act No. 14 of 2020, which came into force at the start of the year 2022, the beneficiary of the cheque shall have the right to file an execution case to recover the amount of the cheque or its remaining amount in the event of:
The cheque has been returned partially due to insufficient funds or a Closed account.
As per the new amendments to the said law, the beneficiary shall have the right to claim the amount of the cheque or its remaining amount directly without the need to go through the litigation stages.
The jurisdiction for such a procedure shall be held by the court in whose circuit the drawer (the issuer of the cheque) resides.
The cheque execution procedures may result in serious orders against the drawer/the cheque issuance, including but not limited to, imposing a travel ban, attachment on the properties or bank accounts, and vehicles.
If the cheque bounce reason is a closed account, a criminal case can be filed against the issuer.
SAZ Advocates are ready to assist you in recovering your legitimate rights all over the UAE. Our financial crime and debt collection section has legal knowledge and wide experience in cheque bounced/returned cases.
Reach out to us for legal assistance: Send a WhatsApp message to: +971585323296 | Tel: +971 48873880 | E-mail: info@zaroonilawyers.com
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