UAE Commercial Transactions Law

Article 577 — Article (577)

Book Four: Commercial Papers · Part One: Bill of Exchange · Chapter Seven: Payment of the Bill of Exchange: Article (568)

1. In the event of refusing to pay the value of a lost bill of exchange after claiming its payment, pursuant to the provisions of the preceding two Articles, its owner shall document such refusal in a protest to be made on the day following the date of maturity, and shall notify the drawer and endorsers of the same in such manner and within such time-limits as provided for in Article (591) hereunder. 2. The protest shall be made within the time limit mentioned in Clause (1) above, even if it is impossible to obtain a decision from the competent court in due course.

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