النظام القانوني للاعتماد المستندي الإلكتروني في المملكة العربية السعودية

Abstract EN

This study attempts to identify the legal rules that regulate paper documentary credit and the extent of its suitability to electronic documentary credit.

In addition to clarifying the new rules adopted by the Kingdom of Saudi Arabia to regulate the way banks provide their electronic services, such as the electronic documentary credit.

The researcher adopted both the descriptive approach and analytical approach.

Furthermore, the study reached a number of results and recommendations.

The most important results indicated that the electronic documentary credit does not differ from its conventional counterpart, except that it uses electronic records in lieu of paper documents.

The study also concluded that the systems in the Kingdom have approved the use of electronic records in banking transactions, as long as they meet the conditions and restrictions specified by the electronic transactions Act and its executive regulations.

One of the most important recommendations presented by the study is the recommendation to issue a system for (electronic payment services), because of its fundamental role in facilitating the fulfilment of financial obligations in the electronic documentary credit contract in particular, and in all commercial transactions in general.

The study also recommended establishing legal rules.

An organization for the “electronic insurance contract” through an integrated, independent system, or by including some special rules in the (Saudi Maritime Commercial System).

The most significant recommendations of the study include the importance of issuing a law that regulates electronic payment services due to their essential role in facilitating the fulfilment of financial obligations, particularly in electronic documentary credit contracts, as well as all commercial transactions in general.

The study also recommended establishing legal rules regulating the “electronic insurance contract” through an integrated, independent Act or by including some special rules in the (Saudi Maritime Commercial System).