“The changes will cut time and effort on the part of the beneficiary of a cheque as the decree makes bounced cheques an executive document to be executed directly by an appropriate judge in court. The changes will help overcome challenges with commercial dealings and with securing payments,” said Abdelaziz.
According to the new legal provision, banks will be obliged to make partial payment for a cheque to the beneficiary when a cheque is presented for payment at the bank as long as an account balance is available to even partly satisfy the beneficiary’s claim.
Realising the remaining amount
Dubai: Fraudsters impersonating officials in the UAE shall face five years in prison, the UAE Public Prosecution said.
An educational video by UAE Public Prosecution pointed that criminals tend to impersonate policemen or other government officials to cheat their victims to illegally obtain their money or scam them in other ways.
“According to Article 250 of the Federal Penal Code, five years in prison is the punishment for whoever unduly assumes one of the public functions. The same penalty shall apply to whoever interferes with a public function or service, or performs one of its acts or prerequisites, without being competent or authorised to do so, aiming at achieving an illicit objective or to obtain for himself or herself for others any kind of advantage,” said UAE Public Prosecution in a video statement.
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Mon, 04/05/2021 - 02:35 PM
Founded in 2017, NESR is one of the largest national oilfield services providers in the MENA and Asia Pacific regions. The Houston-based company has over 5,000 employees in over 15 countries.
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National Energy Services Reunited Corp. (NESR) agreed on April 1 to acquire service lines of Action Energy Co. WLL for around $50 million in cash, which Houston-based NESR said will position it as a top-tier oilfield service provider in Kuwait.
Action Energy is one of the leading indigenous oilfield services companies in Kuwait with multiple oilfield services contracts across both drilling and production operations. The transaction with NESR announced April 1 comprising oil services contracts in certain services lines worth more than $200 million, with operations across the production and drilling and evaluation segments.
NESR Agrees to Acquire Action Energy Company Businesses in Kuwait newjerseytelegraph.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from newjerseytelegraph.com Daily Mail and Mail on Sunday newspapers.