23 Shawwal 1443 - 24 May 2022
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Eye of Riyadh
Government | Friday 24 December, 2021 11:27 pm |

Saudi Arabia .. “Nafith” platform allows issuing a bond paper to preserve the rights of the creditor and debtor

The Nafez platform in Saudi Arabia made it possible to create and register the bond paper for an order with its approved pillars according to the commercial paper system electronically through its platform, in a step aimed at preserving the rights of the issuing parties and raising reliability, to be a direct electronic link with the enforcement courts for the possibility of electronic implementation, as this comes within the initiatives of The Ministry of Justice to digitize transactions with ease and safety.


This, and the bond is to an order “written in accordance with certain formal conditions stipulated by the commercial papers system, in which its editor undertakes to pay a certain amount upon sight or on a specific or assignable date to the order of another person called the beneficiary.” It is subject to errors that violate the rights of its parties, which makes the Nafez platform, with its electronic approval and supervision of the Ministry of Justice, a guarantee of the rights of all parties.


Nafez platform features

The service of issuing the bond to an order through the Nafez platform comes with many features and benefits, such as: preserving the rights of the parties issuing the bond to an order, direct electronic linking to the enforcement courts and the possibility of electronic execution, in addition to the issuance of a commercial paper complete with conditions and elements, thus ensuring that the case or request for execution is not rejected due to incompleteness Information and bonds, this is in addition to the direct and immediate link between the two parties to the bond in an electronic form, and follow up the payment operations in the event that they are in installments, and ensure that signatures are not falsified or denying the issuance of the commercial paper, and protect commercial transactions between individuals and institutions, and ensure transparency and justice for commercial paper transactions, as it was able to View the various bonds and their status in a unified platform.


High efficiency

It is worth noting that the Nafez platform provides services for managing and organizing electronic executive bonds in a highly efficient manner that protects the rights of the parties to commercial transactions. private sector.


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