Article 33 of the Saudi Commercial Papers Law
المادة 33 من نظام الأوراق التجارية · الفصل الرابع: مقابل الوفاء
Article 33 obliges the drawer, or whoever acts for the drawer by law on bankruptcy, to hand the holder of a bill of exchange the documents needed to obtain the funds for payment, at the holder's expense.
Official text (Arabic)
This article has not been amended since the law was issued.
على الساحب ولو عمل الاحتجاج بعد الميعاد المحدد نظاما أن يسلم حامل الكمبيالة المستندات اللازمة للحصول على مقابل الوفاء، فإذا أفلس الساحب لزم ذلك من يقوم عنه نظامًا.
وتكون مصروفات ذلك على حامل الكمبيالة في جميع الأحوال.
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 33 explained in plain English
The holder of a bill of exchange may need documents that enable him or her to reach the funds for payment held by the drawee, and these documents are usually in the drawer's hands. Article 33 therefore provides as follows:
- The drawer's obligation: the drawer must hand the holder the documents needed to obtain the funds for payment.
- Even where the protest is late: this obligation remains even if the holder made the protest after the legally prescribed deadline.
- If the drawer goes bankrupt: the obligation passes to whoever acts for the drawer by law.
- Expenses: the expenses of this are borne by the holder of the bill in all cases.
The purpose is to enable the holder to reach the funds for payment held by the drawee. This article is linked to Article 34, which sets out the holder's right to the funds for payment if the drawer or the drawee goes bankrupt. The article does not specify the type of these documents, but merely describes them as those needed to obtain the funds.
If the drawer or whoever acts for the drawer refuses to hand them over, the holder can consult a lawyer specializing in commercial cases and commercial papers to learn the appropriate course for his or her situation.
Practical example
Ahmed holds a bill of exchange drawn by a company in Riyadh on one of its customers, and he was late in making the protest beyond the prescribed deadline. He may nevertheless ask the company to hand him the documents needed to obtain the funds for payment held by the customer, with the expenses borne by him. Had the company gone bankrupt, the request would be directed to whoever acts for it by law.
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 33 of the Saudi Commercial Papers Law
Do I lose my right to the funds-for-payment documents if I was late in making the protest?
No, Article 33 obliges the drawer to hand over the necessary documents even if the protest was made after the legally prescribed deadline.
Who must hand over the documents if the drawer goes bankrupt?
Whoever acts for the drawer by law.
Who bears the expenses of obtaining the funds-for-payment documents?
The holder of the bill of exchange, in all cases.
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.