UAE Commercial Transactions Law — Article 442 — Article (442)
Book Three: Banking Transactions · Part Four: Transactions on Commercial Papers · Chapter One: Discount: Article (441)
1. The interest shall be calculated on the basis of the time elapses from the date on which the commercial paper is presented for discount until its maturity date, unless otherwise agreed upon.
2. A commission shall be estimated on basis of the value of the commercial paper.
Interpretation and application must be checked against the official text and current version.
