Update Saudi Companies Law

Update to the Saudi Companies Law,Reporting of losses in Saudi Companies, Appointment of auditors, and Remote Board of Directors Meetings As a result of the COVID-19 pandemic, some Saudi Arabian companies have been struggling economically and facing difficulties implementing some requirements under the Saudi Companies LawNo. (M/3) dated 10/11/2015G. As such, on 02/11/2020G, the Saudi…

Pay-when-paid clause can be defeated

Written by Antonios Dimitracopoulos for MEP Middle East    The often-dreaded pay-when-paid clause in subcontracts has deterred many from pursuing what is an otherwise legitimate claim. The common concern has always been that a defence would almost certainly be raised by the main contractor that no corresponding payment has been made by the employer and, as such,…