Practical tips for managing claims and recoveries in Saudi Arabia under new CCR

KSA Recovery Reference

1. Statutes of Limitations

  • Commercial Claims: 5 years from cause of claim.
  • Enforcement of bills of exchange / promissory notes: 3 years form maturity date.

2. Int. Commercial Arbitration

  • Member of 1958 NY Convention: Yes.
  • Dedicated arbitration law: Yes (based on UNCITRAL model law).

3. Collateralization Security Interest:

  • Saudi Arabian Commercial Mortgage Regulation defines the procedures to perfect various types of security interest. A dedicated security interest register is available.
  • Title-based collateral: Only hire-purchase agreements are available. Retention of title is not recognized under Saudi laws/regulations.