UAE Commercial Transactions Law — Article 563 — Article (563)
Book Four: Commercial Papers · Part One: Bill of Exchange · Chapter Six: Maturity of the Bill of Exchange: Article (563)
1. A bill of exchange shall specify one maturity date.
2. The drawer may fix maturity: a. at sight; b. a fixed period after sight; c. on a fixed date; or d. a fixed period after the date of drawing.
3. A bill specifying maturity dates other than those in Clauses 1 and 2 loses its character as a commercial paper.
Interpretation and application must be checked against the official text and current version.
