Implementing Regulations for Enforcement Services Providers

Release Date:	1443-08-20
Release Tool:	Ministerial decision
Issuance Instrument Number:	2268
Validity:	Valid
Summary:	By AI Decision of the Minister of Justice No. (M/53) approves a new regulation for execution service providers, replacing the previous regulation. The regulation includes basic definitions, licensing conditions such as providing a valid commercial registration, a minimum of two years of experience, no liquidation judgments, and a clean credit record. The license requires a bank guarantee of one hundred thousand riyals or an insurance document, as well as passing training programs and tests. A committe...

Release Date:

1443-08-20

Release Tool:

Ministerial decision

Issuance Instrument Number:

2268

Validity:

Valid

Summary:

By AI

Decision of the Minister of Justice No. (M/53) approves a new regulation for execution service providers, replacing the previous regulation. The regulation includes basic definitions, licensing conditions such as providing a valid commercial registration, a minimum of two years of experience, no liquidation judgments, and a clean credit record. The license requires a bank guarantee of one hundred thousand riyals or an insurance document, as well as passing training programs and tests. A committe...