UAE Commercial Transactions Law

Article 498 — Article (498)

Book Three: Banking Transactions · Part Seven: Rental of Safe Deposit Boxes

1. Rental of safe deposit boxes is a contract whereby a bank undertakes to place a certain safe deposit box at the disposal of its renter customer, and allows the latter to take advantage of it against a fixed rent. 2. The bank shall guard the rented safe deposit box and ensure its safety and usability by taking all such measures as are imposed by the banking customary practice.

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