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Clifford Chance

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Saudi Arabia’s new Commercial Pledge Law

29 May 2018

In the last week of April 2018, Saudi Arabia’s new Commercial Pledge Law and its Implementing Regulations (together the New CPL) were issued and published, and they came into force immediately upon their publication. In replacing the old Commercial Pledge Law and its Implementing Regulations (the Old CPL), the New CPL provides an entirely new framework for the grant, perfection and enforcement of pledges over movable assets to secure debts that are considered, pursuant to the provisions of the New CPL, to be "economic debts" as opposed to personal debts.

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