Bouncing of Cheques is witnessed as the incessant complication
confronted by the people of UAE. The criminal act is defined under
the provisions of criminal law and it can result into penalties and
punishments which can prove to be really stringent and intimidating
as confirmed by Criminal Lawyers of Dubai. Entities and foreign
exchanges, loan from banks, lease deeds, sales and purchases or
transactions by the individuals are not the only areas where one
could face such type of issue.
The paramount reason for bouncing of Cheques is the sheer
inability on the part of the debtor to repay the amount lent to him
by the creditor on the due date. This type of offense not only
invites the criminal proceedings but also the civil proceedings. It
is regulated under UAE federal law (3) of 1987. As a result, it is
not only important for the citizens of UAE to take necessary
precautions but anyone undergoing commercial affairs in the UAE
should make sure that all the requisites of