Mar 8, 2021
There can be multiple reasons for a cheque to be dishonored in the UAE. To abstain from the tussles of dishonored cheques, ensure that your cheque meets all the requirements.
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There can be multiple reasons for a cheque to be dishonored in the UAE. To abstain from the tussles of dishonored cheques, ensure that your cheque meets all the requirements.
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If you bounce a cheque under AED 200,000 you will not be alleged of criminal activity. As per the rules, you will only have to pay a certain amount as a fine! For more info, contact the experts at Alketbi!
How much is the fine for a bounced cheque?
Since December 2017 and according to the Law No.1 of 2017, any individual who issues a bounced cheque not exceeding the value of AED 200,000 can be punished by the prosecution without the case being referred to the court and will be subject to the following fines:
· Bounced cheques not exceeding AED 50,000 - fine AED 2,000.
· Bounced cheques between AED 50,000 and AED 100,000 - fine AED 5,000.
· Bounced cheques between AED 100,000 and AED 200,000 - fine AED 10,000.
However, paying the fine alone does not completely absolve the issuer of a bad cheque. The complainant, in this case, the person who received the cheque, can still file a civil case with the court to claim the money. The criminal court and civil court function separately. If the cheque exceeds AED 200,000 or the case needs more investigation, the case will be then forwarded to the criminal court. The issuer may be requested to pay the whole amount of the cheque, or convicted to the imprisonment.
If that does happen, seek a legal consultation, to know your rights and further actions. For the assistance in bounced cheque cases, contact us.
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