The Saudi Contractors Authority has called for the swift implementation of the proposed bankruptcy law, emphasizing that the law will significantly contribute to safeguarding and protecting rights in the event of a company\u2019s collapse or bankruptcy, and ensure that companies do not evade their obligations to pay employees, suppliers, and other creditors as guaranteed by all regulations in the Kingdom.<\/p>\n
In addition, Mr. Osama bin Hassan Al-Afaleq, Chairman of the Board of Directors of the Contractors Authority, called for enabling the Authority to fulfill its required role in regulating the contracting sector and to begin enforcing mandatory registration with it, as stipulated in its founding resolution. This will contribute significantly to helping regulate the sector and protect the rights of all parties involved, especially since the sector has long suffered from poor regulation and the entry of many individuals who lack the knowledge and qualifications required of a contractor.<\/p>\n
Al-Afaleq pointed out the need to implement a bankruptcy system, especially in light of the suspension of operations by a number of major construction companies, such as Saudi Oger, as well as the need to empower the Authority to fulfill its intended role in regulating the Kingdom\u2019s construction sector\u2014which is the second-largest non-oil sector in the Kingdom\u2014 and the one most closely linked to the projects and programs of Saudi Vision 2030.<\/p>\n
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Reading time: <\/span> < 1<\/span> Minute<\/span><\/span>The Saudi Contractors Association called for the need to speed up the implementation of the draft bankruptcy system, stressing that the system will greatly contribute to preserving and protecting rights in the event of collapse or bankruptcy of companies, and ensure that employees, suppliers and other rights holders do not evade the fulfillment of the dues of employees, suppliers and other rights guaranteed by all laws in the Kingdom. In addition, he called on M. Osama bin Hassan Al-Afaleq, Chairman of the Board of Directors of the ... Read more<\/a><\/p>","protected":false},"author":10,"featured_media":32944,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_seopress_titles_title":"","_seopress_titles_desc":"","_seopress_robots_index":"","_seopress_robots_follow":"","_seopress_robots_imageindex":"","_seopress_robots_snippet":"","_seopress_robots_primary_cat":"0","_seopress_robots_breadcrumbs":"","_seopress_robots_freeze_modified_date":"","_seopress_robots_custom_modified_date":"","_seopress_robots_canonical":"","_seopress_social_fb_title":"","_seopress_social_fb_desc":"","_seopress_social_fb_img":"","_seopress_social_fb_img_attachment_id":0,"_seopress_social_fb_img_width":0,"_seopress_social_fb_img_height":0,"_seopress_social_twitter_title":"","_seopress_social_twitter_desc":"","_seopress_social_twitter_img":"","_seopress_social_twitter_img_attachment_id":0,"_seopress_social_twitter_img_width":0,"_seopress_social_twitter_img_height":0,"_seopress_redirections_value":"","_seopress_redirections_enabled":"","_seopress_redirections_enabled_regex":"","_seopress_redirections_logged_status":"","_seopress_redirections_param":"","_seopress_redirections_type":0,"_seopress_analysis_target_kw":"","_seopress_news_disabled":"","_seopress_video_disabled":"","_seopress_video":[],"_seopress_pro_schemas_manual":[],"_seopress_pro_rich_snippets_disable_all":"","_seopress_pro_rich_snippets_disable":[],"_seopress_pro_schemas":[],"footnotes":""},"categories":[104],"tags":[],"class_list":["post-16712","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-legislation-and-regulations"],"acf":{"amlak_post_excerpt":"","amlak_post_excerpt_source":{"label":"Amlak post excerpt","type":"text","formatted_value":""}},"featured_image_urls":{"full":["https:\/\/amlak.net.sa\/wp-content\/uploads\/2021\/09\/\u0645\u0642\u0627\u0648\u0644\u0627\u062a.jpg",755,474,false],"thumbnail":["https:\/\/amlak.net.sa\/wp-content\/uploads\/2021\/09\/\u0645\u0642\u0627\u0648\u0644\u0627\u062a-150x150.jpg",150,150,true],"medium":["https:\/\/amlak.net.sa\/wp-content\/uploads\/2021\/09\/\u0645\u0642\u0627\u0648\u0644\u0627\u062a-300x188.jpg",300,188,true],"medium_large":["https:\/\/amlak.net.sa\/wp-content\/uploads\/2021\/09\/\u0645\u0642\u0627\u0648\u0644\u0627\u062a.jpg",755,474,false],"large":["https:\/\/amlak.net.sa\/wp-content\/uploads\/2021\/09\/\u0645\u0642\u0627\u0648\u0644\u0627\u062a.jpg",755,474,false],"1536x1536":["https:\/\/amlak.net.sa\/wp-content\/uploads\/2021\/09\/\u0645\u0642\u0627\u0648\u0644\u0627\u062a.jpg",755,474,false],"2048x2048":["https:\/\/amlak.net.sa\/wp-content\/uploads\/2021\/09\/\u0645\u0642\u0627\u0648\u0644\u0627\u062a.jpg",755,474,false],"trp-custom-language-flag":["https:\/\/amlak.net.sa\/wp-content\/uploads\/2021\/09\/\u0645\u0642\u0627\u0648\u0644\u0627\u062a.jpg",18,12,false],"event-thumbnail":["https:\/\/amlak.net.sa\/wp-content\/uploads\/2021\/09\/\u0645\u0642\u0627\u0648\u0644\u0627\u062a-300x200.jpg",300,200,true],"event-medium":["https:\/\/amlak.net.sa\/wp-content\/uploads\/2021\/09\/\u0645\u0642\u0627\u0648\u0644\u0627\u062a-600x400.jpg",600,400,true],"event-large":["https:\/\/amlak.net.sa\/wp-content\/uploads\/2021\/09\/\u0645\u0642\u0627\u0648\u0644\u0627\u062a.jpg",755,474,false],"event-hero":["https:\/\/amlak.net.sa\/wp-content\/uploads\/2021\/09\/\u0645\u0642\u0627\u0648\u0644\u0627\u062a.jpg",755,474,false]},"author_info":{"info":["\u0627\u0645\u0644\u0627\u0643 \u0627\u0644\u0639\u0642\u0627\u0631\u064a\u0629"]},"category_info":"\u0627\u0644\u062a\u0634\u0631\u064a\u0639\u0627\u062a \u0648\u0627\u0644\u0623\u0646\u0638\u0645\u0629<\/a>","tag_info":"\u0627\u0644\u062a\u0634\u0631\u064a\u0639\u0627\u062a \u0648\u0627\u0644\u0623\u0646\u0638\u0645\u0629","comment_count":"0","_links":{"self":[{"href":"https:\/\/amlak.net.sa\/en\/wp-json\/wp\/v2\/posts\/16712","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/amlak.net.sa\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/amlak.net.sa\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/amlak.net.sa\/en\/wp-json\/wp\/v2\/users\/10"}],"replies":[{"embeddable":true,"href":"https:\/\/amlak.net.sa\/en\/wp-json\/wp\/v2\/comments?post=16712"}],"version-history":[{"count":0,"href":"https:\/\/amlak.net.sa\/en\/wp-json\/wp\/v2\/posts\/16712\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/amlak.net.sa\/en\/wp-json\/wp\/v2\/media\/32944"}],"wp:attachment":[{"href":"https:\/\/amlak.net.sa\/en\/wp-json\/wp\/v2\/media?parent=16712"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/amlak.net.sa\/en\/wp-json\/wp\/v2\/categories?post=16712"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/amlak.net.sa\/en\/wp-json\/wp\/v2\/tags?post=16712"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}