التضامن الصرفي و شروط تحققه في التظهير الناقل للملكية

Abstract EN

This article aims to study exchange solidarity and conditions of its achievement in transferring ownership for the important values trading papers have.

these papers can function like money in use and exchange.

given the importance of these papers in all trading transactions, the Saudi regulator has supported them with a set of guarantees to protect confidence and trust existing among traders.

exchange solidarity is one of the guarantees, thus protecting the trading paper holder and promotes his feeling of confidence and trust.

it makes every signatory a guarantor if the obligor fails to fulfill its obligation.

therefore, the holder may recourse against the obligors severally or jointly for the value of the trading paper, either on or before the due date, in cases defined by the relative system.

consequently, every signatory becomes liable jointly with all other obligors.

however, exchange solidarity is not only confined to its holder against obligors, but it also includes co-debtors, as any person who has fulfilled the obligation is entitled to recourse against other obligors for the value of this fulfilled obligation.

to achieve this solidarity in favor of the holder against obligors, a set of substantial requirements must be fulfilled in the relevant exchange paper, which generally includes satisfaction, place, intention and eligibility.

moreover, a set of formal requirements must be fulfilled in the trading paper, mostly the writing and signature, as well as other requirements.