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We are excited to share the latest edition of the Law Update, beautifully and appropriately titled “Sustainable Horizons: The Saudi Arabian Vision.” Giving special honor to the Kingdom’s 2030 vision, this update focuses on a collection of both informative and inspiring articles.
For those in construction, you can learn about how the tendering environment impacts risk-pricing for contractors, the updates on the legal framework of the construction industry and how contractors can protect themselves against financial difficulties.
There is good news too from the kingdom’s banking sector, from which the practice of “Open Banking” is being pushed for! But what is open banking? We’re answering that too.
Also . . . Are there any women trail blazers in Saudi Arabia you can name? We’ll help you with that. We cover how the Middle East has been making strides in empowering women in the entrepreneurial space,most notably in STEM fields.Read the full edition
Saudi Arabia recently issued its new e-commerce law. The E-Commerce Law, which will be administered by the Ministry of Commerce & Investment, comes into effect in late October 2019, 90 days following its publication in the Official Gazette on 24 July 2019. The associated Regulations are expected to follow shortly thereafter.
The Law focuses primarily on customer-protection related considerations, both in a B2C context and in a B2B context. It applies not only to e-commerce service providers who are merchants/traders registered in the Saudi Commercial Register, but also to other e-commerce practitioners – both in the Kingdom and elsewhere – who are not registered in the local Commercial Register. Specifically, e-commerce practitioners who are located outside the Kingdom, but who offer goods and services to customers based in the Kingdom, are subject to the Law.
The Law provides clarity for e-commerce service providers, although further clarity should follow when the Regulations are issued. In the meantime, e-commerce operators making goods and services available to customers in the Kingdom should prepare to review their customer terms and conditions and policies to ensure that they fit within the expectations set out in the Law.
Our Technology, Media & Telecommunications (“TMT”) team provides local and international clients with world-class, specialist legal support across the full spectrum of technology, media and telecommunications matters.
Our diverse team of internationally qualified lawyers combines local law experience with international best practice, having also had experience of working in-house. Working alongside the firm’s Arabic-speaking lawyers and locally-qualified advocates, and with access to specialist lawyers from other practice areas, our TMT team provides clients with high quality, specialist legal services.
Partner, Head of TMT – KSA
Bandar Al Hamidani
Partner, Corporate Commercial
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