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Sale at public Auction?

Article 129 - Commercial transaction Law?

Commercial firms are forbidden to sell their goods by public auction except in one of the following cases and provided that the necessary license is obtained from the local authorities:?

1- final liquidation of the commercial firm .?

2- final cessation of trading in one or more of the items handled by the premises in its trade.?

3- liquidation of a branch of the commercial firm , unless that branch is situated in the same town as the main office of the commercial firm .?

4-Transfer of the main office and it’s branches from one Emirate to another. In this case the liquidation must be conducted within a maximum of four months and shall entail the commercial firm being forbidden to practice the business which ended in liquidation with in that Emirate until at least one year has elapsed from the date of completion of the auction.?

5-Liquidation of defective goods damaged by fire, water ingress, humidity or insect infestation and the like.

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