Commercial Transactions Law marks major step in legislative reform: lawyer

Lawyer Fahd Abu Hassan has hailed the new Commercial Transactions Law as a major stride in advancing Saudi Arabia's legislative landscape. Addressing Al Ekhbariya Radio, the legal expert emphasized that the enactment of the law marks a significant milestone in the continuous improvement of the country's legislative framework over the past few years.

Abu Hassan pointed out that the law is a logical progression from recent legislative changes in the Kingdom, all in line with the objectives set forth in Saudi Vision 2030. He underlined the importance of the Commercial Transactions Law in modernizing commercial regulations to align with the rapid growth in economic activity and the expanding variety of commercial transactions and contracts.

Abu Hassan also stressed that the law boosts legal certainty, ensuring that business owners and investors are well-informed about their rights, responsibilities, and the legal repercussions of their commercial dealings.