Article 59 of the Saudi Commercial Court Law
المادة 59 من النظام التجاري نظام المحكمة التجارية · الفصل السادس: في السفاتج ، سندات الحوالة المعبر عنها بالبوليسة والكمبيالة المتداولة بين التجار
The article provides that if the due date for paying a bill of exchange falls on a day of an official holiday, it must be paid on the day before.
Official text (Arabic)
This article has not been amended since the law was issued.
إذا وافق ميعاد دفع قيمة السفتجة يوم عيد من الأعياد الرسمية يجب دفعها في اليوم الذي قبله .
This is the official Arabic wording, the only legally binding version. We do not translate the law itself; the explanation below is ours. Official source: Bureau of Experts at the Council of Ministers
Article 59 explained in plain English
This article deals with a practical case that recurs: that the date for paying the value of the bill falls on a day of an official holiday.
The ruling the text chose is to bring forward, not postpone: it must be paid on the day before. The date does not move to after the holiday, but comes forward by a day.
The following is understood from this:
- The drawee must be ready to pay a day before the written date if that date falls on an official holiday.
- The holder must take this bringing-forward into account when presenting the bill for payment.
The text speaks of official holidays and does not mention weekly days off or others, so the ruling is not extended to them from the text.
This article connects to Article 58, which provides that a bill drawn payable at sight is paid on presentation, and that if a date or period for payment is stated in it, what is written in it is followed. If the written date falls on an official holiday, the ruling of this article applies.
If a dispute arises about the date of payment or the effect of delay, consult a lawyer specializing in commercial paper.
Practical example
A bill of exchange held by a merchant in Makkah falls due on a day that coincides with the first day of Eid al-Fitr. Under this article, its value must be paid on the day before.
Translated from our Arabic explanation with machine assistance. For guidance only; it does not replace advice from a lawyer on your situation.
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Frequently asked questions about Article 59 of the Saudi Commercial Court Law
What if the date for paying a bill of exchange falls on a holiday?
If the date for payment falls on a day of an official holiday, it must be paid on the day before.
Is payment postponed until after the holiday?
No. The text brings payment forward to the day before the holiday and does not postpone it.
More articles on The Draft and Bill of Exchange and Acceptance
- Article 42
The article sets the details required in a bill of exchange (safta): date, amount, drawee's name, date and place of payment, reason for the value and its receipt, and drawer's signature, and the rule for multiple copies.
سندات الحوالة أي السفاتج التي تسحب من محل على آخر يجب أن تؤرخ ويوضح فيها المبالغ المحولة واسم الشخص المحال عليه وتاريخ ومكان الدفع ويبين فيها أنها قيمة بضاعة أو
- Article 43
The article allows a bill of exchange to be drawn on one person with a condition that it be paid at the place of another person, and also allows it to be drawn at the order of a person on his account.
يجوز أن تسحب السفاتج على شخص ويشترط فيها الدفع في محل شخص آخر كما يجوز سحبها بأمر شخص على ذمته
- Article 44
The article provides that bills of exchange drawn contrary to the preceding conditions are considered only ordinary instruments.
السفاتج المحررة على خلاف الشروط الآنفة الذكر لا تعتبر إلا كسندات عادية .
- Article 45
The article requires that, when the payment date falls due, the drawee owe the transferor or the person who ordered the drawing an amount not less than the value of the bill.
عند حلول أجل دفع قيمة السفاتج يجب أن يكون في ذمة المحال عليه للمحيل أو للآمر بالسحب مبلغ لا يقل عن قيمة السفتجة .
- Article 46
The article makes acceptance sufficient proof that the acceptor owes the funds covering payment, and requires the drawer to prove the existence of the cover if it is denied, failing which the drawer guarantees the bill's value to the holder.
الشرح على السفتجة بالقبول دليل كاف على أن القابل مدين للساحب أو الآمر بالسحب بما يقابل الوفاء وعلى الساحب وحده أن يثبت في حالة الإنكار أو الامتناع عن الدفع بعد
- Article 47
The article regulates the holder's right to the cover for payment when the drawer goes bankrupt after acceptance, and when the drawee goes bankrupt after accepting, depending on the nature of the cover.
إذا أفلس الساحب بعد قبول المحال عليه ولو قبل حلول أجل الدفع فلحامل السفتجة دون غيره من غرماء الساحب الحق في استلام مقابل الوفاء الذي عند المسحوب عليه وإذا أفلس
The texts are reproduced from the official website of the Bureau of Experts at the Council of Ministers for reference; where they differ, the officially published Arabic text prevails. This content is not legal advice.