UAE Commercial Transactions Law

Article 463 — Article (463)

Book Three: Banking Transactions · Part Five: Transactions on Securities · Chapter Two: Deposit Of Securities: Article (459)

1. The bank shall be entitled to a remuneration against the obligations it assumes. Such remuneration shall, in the absence of an agreement, be determined according to the custom, subject to the number and value of the securities deposited. 2. As a guarantee for the bank's receipt of its due remuneration, it shall have the right to withhold the securities deposited and refrain from returning the same until recovery of its right, in addition to the lien prescribed by law over the expenses of safekeeping a movable property.

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