The most important legal news in local newspapers
We in Ben Arafa Law Group Consulting & Legal Legitimacy L.L.C likes to provide you of the most important legal news in the local newspapers for this week, which related to your business and commercial, labor and procedural activities, and accordingly we provide you with the most important news as follows:
The Cabinet Approved the Systems of Products Safety, Specifications and Quality
Those systems aim at developing a framework for the responsibilities of each authority or person at the supply chains for the market products. The system also aims at reinforcing customer safety through preventing the risks related to the products which are sold at the Kingdom’s markets and explaining the methods of treating that risk and the risks related to those products. The rules of the system are applicable on all products, except the products which are related to the Public Authority for Food and Medicine. The system provides effective tools for consumer safety, and it defines the authority which is responsible for any unsecure product in the markets, in addition to activating the control role of the concerned authority with markets, preventing the risks related to the products which are marketed or sold in the markets of the kingdom, also it raises public awareness for the methods of dealing with the risks related to the products.
Approving the Regulations for Providing Real Estate Assessment to the Financial Authorities
The executive director of the Saudi Authority for Approved Residents, Fisal Bin Bander Almandel issued a decree for the regulations of real estate assessment for financial authorities, which shall become enforceable from the date of their publishing in the formal journal for providing the services. The regulations make conditions for registering real estate assessment, that is the approved resident and the establishment should meet all rules and regulations of the profession, and the resident or any professional partner at the assessment establishment should have the authority scholarship certificate at the real estate assessment section. The conditions include the recorded experience hours at the establishment account in the authority electronic systems should not be less than 5 thousand hours of experience at the assessment section, and the members of the authority who join the assessment establishment shouldn’t be less than five members, while the remaining period for the license validity shouldn’t be less than 120 days. The decree includes defining the charges for the real estate services, as the regulation states that upon a decree from the authority executive director- upon a recommendation from the concerned authority- the minimum charges for real estate assessment services for financial authorities shall be defined through Qaym. When the charges are defined, it is should be ensured that the assessment establishment is able to meet all regulating and professional undertakings at the assessment reports issued by Qaym for assessing the real estate assets according to their categories, and according to the international standards which are approved by the authority.
Legal Information
Commercial Record System
No action shall be taken on the commercial name in separation from the action on the commercial shop, while the actions on the shop shall not include its commercial name unless that is agreed in writing. In that case the one who receives the name shall add what indicates to the property transfer. When the successor agree to use the original commercial name without any addition, he shall be responsible for the undertakings of the assignor when they are made upon that name, in a case of the successor’s failure to meet them.
Add a Comment