A reminder to all clients and stakeholders that under the Saudi Commercial Courts Law, which came into force on 16 June 2020, the statute of limitations is five years from the date of the cause of action. However, for claims which arose prior to 16 June 2020, the five-year period is calculated from the date the Law entered into force.
What does this mean in practice? Creditors have until 15 June 2025 to submit their claim for payments, which were due at any point prior to 16 June 2020 – otherwise the claim will become time barred and unenforceable.
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