UAE Commercial Transactions Law

Article 567 — Article (567)

Book Four: Commercial Papers · Part One: Bill of Exchange · Chapter Six: Maturity of the Bill of Exchange: Article (563)

1. Where the bill of exchange is payable on a specific date in a country where the calendar is different from that of the country of issue, the date of maturity shall be deemed as having been determined according to the calendar of the country of payment. 2. Where the bill of exchange is drawn between two countries having different calendars and it is payable after a certain period from its date, the date of drawing shall be adjusted to the corresponding day of the calendar of the country of payment and the date of maturity shall be determined accordingly. The date of presentation of the bill shall be determined according to the foregoing rules. 3. The above rules shall not apply when it appears from a stipulation in the bill of exchange or in its particulars that different rules are applicable.

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