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Business and FinanceReligion and Community

Circular from MoCI Regarding Contracts Concluded for Holding Concerts and Events

31 Mar, 2020 12:00 AMAl Arab Newspaper, Gulf TimesIntended Audience
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The Ministry of Commerce and Industry (MoCI) has issued a circular on holding concerts, festivals, events and special gatherings, compelling contractors and providers of these services to seek consensual agreements with clients following the directives to ban concerts, festivals, events and special gatherings.

The circular falls in line with the ministry’s efforts to ensure stability in business transactions between suppliers and consumers while taking into account the interests of both parties and avoiding material damages that may be caused to any party due to the preventive and precautionary measures implemented by the state to curb the spread of the novel coronavirus (Covid-19), the MoCI said in a statement.

In line with this circular, MoCI calls on service providers to ratify new contracts that outline other dates to fulfill their obligations or to seek consensual agreements that take into account the interests of both parties with regard to the down-payments and financial installments made to suppliers in return for assuming their obligations as agreed with consumers.

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