8 Things to Remember about Bounce Cheque in UAE

1. 01 8 Things to Remember about Bounce Cheque in UAE

2. 02 INTRODUCTION A crime is defined under the principles of the criminal law in UAE and may result in penalties penalties, which may be very strict and harsh, as approved by the criminal lawyers in Dubai. Entities and foreign stock markets, banks, borrowings, finance lease agreements, purchase and sale agreements, or any of the individuals are not the only places where you can face this type of issue. and criminal loans and

3. 03 Reason for the decline of cheques The main reason for the decline of cheques is the apparent inability of the debtor to repay the amounts due to the lender by the creditor on the due date

4. 04 Precautions It is administered by the United Arab Emirates Federal Law, and (3) of 1987. As a result, it is very important for the UAE citizens to take the necessary precautions to be taken, but also for all those who are involved in a commercial business in the united Arab emirates, in order to ensure that all the necessary conditions for the work of the Chequecarefully to be taken into account. The article also discusses the effects of which can be found in the case of the Bouncing of Cheques.

5. 05Sufficient Funds Honest intentions, and are some of the qualities that a judge is looking at, at first, in the case of the start of the procedure. Therefore, in order to avoid such a situation, it is necessary to ensure that the bank submission an invoice and saves it to a sufficient amount in the bank. Article 599 of the act provides that the drawer must have a deposit amount of money in the bank and clearance of the full amount as indicated in the cheque. If there is no payment made within one year of the blame on him, and the Cheque holder has the right, at the request of the payer, i.e the bank to provide a copy of the issuer's bank account on the basis of which they can take further action.

6. 06Bounced Cheque for Violations: It is Said that the cheque is bounced when the paying bank refuses to Cheque in on the day of delivery due to the following reasons: If the issuer doesn't allow the bank to cash a Cheque. The Bank will reject the issuance of the Chequemark, if the issuing bank, the account does not have sufficient funds to pay the amount specified on the voucher, either in part or in its entirety. If the signature on the cheque does not match the original. In any case, it's the bank, not to Cheque, that, for reasons of safety and security. The bank account associated with the drawer has been closed today.

7. 07 The liability for a violation As a Cheque, it is a commercial payment instrument is based on the product of the availability of funds in the issuer's accounts, as well as at the box. UAE Law Trade Transactions Services to any person, or with a Cheque, or the presenter of the cheque with a remedy under Article 632 stating, in which the receiver of a cheque can take action against the participants and the participants is responsible for the payment of the amount due to him, on the condition that chequeis presented to the drawee by the payee within the time frame and despite his protest and efforts, no payment has been initiated. A copy of the issuer's bank account can be used as proof of the non-payment of the amount, in spite of all the protests of the purchase.

8. 08 The duration of the Cheque of the submission the Cheque could not be delivered before the deadline, and in the second article, which is the period of time during which the Cheque holder shallbe entitled to the Cheque of six months from the date of its submission. The deadline for the submission of the Cheque indicated on the voucher by the drawer on the date of issuing a Cheque. In articles, 617, and 618 put the time frame for the presentation of the Cheque. According to the article, and

9. 09 The Procedure for applying to the court The inability to pay the cheque shall be evident of the drawer from the bank statement upon the bouncing of the cheque. The bank statement is provided to a beneficiary on his/her request by the drawee bank and he can't refuse to do that. It's the only option that the payer has, during the three-day grace period in order to grace period for the purpose of contacting the drawer, and then he is obliged to present to the payee.

10. 10 The Dubai Police app is a platform which is available to the beneficiary in the event they wish to make a complaint to the police about a denied receiving it. In next step, in relation to the process is that the police police will summon the drawer, where they are going to have to explain the reason for all of this. Another step that you can take to ensure that the legal proceedings against them, and that it can only receive a refund of the amount paid at the police station. He can also ask for a certain period of time to pay off his debt, which needs to be protected by the seizure of his passport to the police station. Upon the filing of a complaint, any other consequence is that you need to see, in the context of a criminal investigation, and that his name would be issued with an exit ban, or a warrant for your arrest. Subsequently, the case was transferred from the police to the public Prosecutor's office, which is responsible for the examination of the application. On the basis of the results of the investigation, the public Prosecutor's office, it will either be a pledge for the payment of the debt due, the acceptor, or to empty the detention block for non-payment, for the case where, in the opinion of the court. After that, the case is turned over to the court in which the court is to proceed to the consideration of the case in view of the presence or offense were present or not Criminal Charges

11. 11 Civil procedure The civil court will pass the decree for either payment of the debt in full or for payment of the amount left for the payment. In case the accused fails to pay the same, he will be charged for yet another offense, i.e. for not following the court’s order. If at the end of the jail term, there is no pending case against the issuer of the bounced cheque, the matter gets terminated.

12. To get rid of these situation connect with our banking lawyers in dubai Get In Touch! ADDRESS: 2202, 22nd floor, the citadel tower, business bay, Dubai PHONE: 0543058656, 048787049 971 56 501 4959 EMAIL marketing@alqada.ae