Article 22 of the Saudi Commercial Papers Law
المادة 22 من نظام الأوراق التجارية · الفصل الثالث: قبول الكمبيالة
Article 22 requires a bill of exchange payable at a fixed period after sight to be presented for acceptance within one year of its date, allows the drawer to shorten or lengthen this period, and allows endorsers to shorten it.
Official text (Arabic)
This article has not been amended since the law was issued.
الكمبيالة المستحقة الوفاء بعد مدة معينة من الاطلاع عليها يجب تقديمها للقبول خلال سنة من تاريخها وللساحب تقصير هذا الميعاد أو إطالته. ولكل مظهر تقصير هذه المواعيد.
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 22 explained in plain English
Some bills of exchange are payable at a fixed period after sight, for example one that says "payable 30 days after sight." For this kind, the payment date is not known until it is presented, so the article sets a period for presenting it for acceptance:
- The rule: it must be presented for acceptance within one year of its date.
- The drawer may shorten or lengthen this period.
- Every endorser may shorten these periods; the article does not give an endorser the right to lengthen them.
The difference between the drawer's power and the endorser's is clear: the drawer may shorten and lengthen, while the endorser may only shorten.
This rule complements Article 21, which does not allow the drawer to stipulate that this kind of bill not be presented for acceptance. Article 23 addresses the drawee's right to request a second presentment of the bill.
This article does not set out the effect of failing to present within the period. Anyone who holds a bill of this kind and fears the period will lapse would do best to present it promptly and to consult a lawyer specializing in commercial cases and commercial papers.
Practical example
Youssef received a bill of exchange dated at the beginning of the year, stating that it is payable 60 days after sight, and the drawer did not specify another period. Under Article 22, Youssef must present it to the drawee for acceptance within one year of the date of the bill.
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 22 of the Saudi Commercial Papers Law
What is the period for presenting a bill payable after sight for acceptance?
It must be presented for acceptance within one year of its date.
Can the one-year period be changed?
Yes, the drawer may shorten or lengthen it, and every endorser may shorten it.
More articles on Bill of Exchange
- Article 1
The article sets out the eight particulars a bill of exchange must contain, including the word "bill of exchange", the amount, the name of the drawee, the due date and the drawer's signature.
تشتمل الكمبيالة على البيانات الآتية: أ - كلمة (كمبيالة) مكتوبة في متن الصك وباللغة التي كتب بها. ب - أمر غير معلق على شرط بوفاء مبلغ معين من النقود. ج - اسم من
- Article 2
An instrument lacking the particulars of Article 1 is not a bill of exchange, except where the due date, place of payment, drawee's domicile or place of issue is missing, each of which has a substitute rule.
لا يعتبر الصك الخالي من البيانات المذكورة في المادة السابقة كمبيالة إلا في الأحوال الآتية: أ - إذا خلت الكمبيالة من بيان ميعاد الاستحقاق، اعتبرت مستحقة الوفاء ل
- Article 3
The article permits three ways of drawing a bill of exchange: to the drawer's own order, on the drawer himself, or for the account of another person.
يجوز سحب الكمبيالة لأمر الساحب نفسه، ويجوز سحبها على ساحبها، ويجوز سحبها لحساب شخص آخر.
- Article 4
The article permits stipulating that a bill of exchange be paid at the domicile of a person other than the drawee, whether in the drawee's town or in another.
يجوز اشتراط وفاء الكمبيالة في موطن شخص آخر غير المسحوب عليه سواء كان هذا الموطن في الجهة التي فيها موطن المسحوب عليه أو في جهة أخرى.
- Article 5
If the amount of a bill written in words differs from the amount in figures, the words prevail; if the amount is written several times and differs, the smaller amount prevails.
إذا كتب مبلغ الكمبيالة بالحروف وبالأرقام معا فتكون العبرة عند الاختلاف بالمكتوب بالحروف، وإذا كتب المبلغ عدة مرات بالحروف أو بالأرقام فتكون العبرة عند الاختلاف
- Article 6
Article 6 provides that any stipulation of interest on the amount of a bill of exchange is treated as if it had not been written.
اشتراط فائدة الكمبيالة يعتبر كأن لم يكن.
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.