UAE Commercial Transactions Law

Article 521 — Article (521)

Book Four: Commercial Papers · Part One: Bill of Exchange · Chapter One: Drawing Up a Bill of Exchange: Article (515)

1. No interest may be stipulated on the sum mentioned in the bill of exchange, unless it is made payable at sight or after a specific period from the time of sight. 2. The interest rate shall be stipulated in the bill itself, otherwise, the stipulation shall be null and void. 3. The interest shall be applicable from the date of drawing up the bill of exchange, unless any other date is set.

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