المدونة

The Kingdom of Saudi Arabia is witnessing great development and growth in many different economic sectors, and among these strong and important sectors we find the credit information sector.

The guarantee of rights is one of the most important principles endorsed by Islamic law, which in turn the Kingdom of Saudi Arabia is based on establishing and working to preserve the rights of individuals within Saudi society.

The Kingdom of Saudi Arabia seeks to improve the quality of life and the prosperity of Saudi cities. Therefore, the Kingdom has been keen to issue legislation and regulations that enhance partnership between the public and private sectors.

The real estate sector is considered one of the most important investment sectors in the Kingdom of Saudi Arabia, in addition to the fact that the largest real estate market in the Arab region is located in Saudi Arabia. Saudi Arabia is also among the main axes of the Kingdom's vision for the year 2030 AD

It is a norm of life that disputes occur between people in relationships and dealings with each other, which created the judiciary that aims to settle these disputes, prevent injustice and restore rights to their owners, and arbitration was initiated along with the judiciary, as the need for it increased with the large number and complexity of commercial dealings For its ability to end disputes as quickly as possible and at the hands of specialists who have experience in dealing with disputes.

Arbitration is defined idiomatically as giving the two opponents an arbitrator who rules between them, and it has multiple jurisprudential definitions, among which we choose their saying that it is the method chosen by the disputing parties to resolve disputes arising from the contract without resorting to the judiciary.

Securities disputes need a specialized authority to decide on them quickly, just as the stock market is one of the best ways to develop the capital of investors, but they should get acquainted with the competent authority to settle this type of dispute in the Kingdom of Saudi Arabia specifically, This is what we will explain in detail in the following lines.

It can be instituted before the courts in Saudi Arabia, and among those systems are the Saudi judicial system, the legal pleadings system, as well as the criminal procedure system.

Through which fair competition is protected and encouraged, and monopolistic practices that affect legitimate competition or the interest of the consumer are combated and prevented, leading to the improvement of the market environment and the development of the national economy in the Kingdom of Saudi Arabia.

Trade enhances competition, diversifies sources of goods and services and improves their quality. Therefore, the merchant in the Kingdom of Saudi Arabia is one of the most important pillars of the commercial process, and as a result of the interest of the Kingdom of Saudi Arabia in trade and merchants, that tool contributes to the development and prosperity of the economy.

The role of the Saudi Ministry of Justice, which is well-known for its procedural developments in addressing the crisis of many cases in the Kingdom, where quick solutions have been developed to resolve disputes by mutual consent. Without resorting to the corridors and sessions of the courts, and reconciliation takes place with executive outputs that guarantee all parties their rights.

The Saudi legislator defined in Article Two of the Anti-Commercial Fraud Law that it is the attempt to deceive consumers and market pioneers by offering fraudulent products. Commercial fraud takes place in any of the following forms: