A member of the “NBK” proposes the establishment of a committee to follow up on citizens’ allowances in the “Private”

Draft “Commercial Agencies” Law: 5-year deadline to terminate the contract of “durable goods” agency

• Today, the National Bank is discussing the draft federal law regarding the regulation of commercial agencies.

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Federal National Council member Saeed Rashid Al-Abedy revealed to "Emirates Today" the features of the federal draft law on the regulation of commercial agencies, which the Council is discussing today, stressing that the draft law grants the two parties to the agency (the agent and the principal) the right to terminate the agency contract by mutual consent between the two parties. Ensure that the agent is entitled to compensation for his huge investments, in the event of an agreement to terminate the contract, pointing out that the end of the date of the agency contract does not necessarily mean the termination of the agency between the principal and the agent. If either of them wants to terminate the contract, he must inform the other party during varying periods, It extends to five years for large commercial agencies specialized in the durable goods sector, to allow the agent to maintain his investment entity.

Meanwhile, the second deputy speaker of the Federal National Council, Naama Abdullah Al-Sharhan, intends to submit a parliamentary proposal during the session to launch and create a ministerial committee to follow up on mechanisms for setting and disbursing periodic and annual bonuses to citizens working in the private sector.

The Council will hold its session today at its headquarters in Abu Dhabi, headed by Saqr Ghobash, to discuss the draft federal law regarding the regulation of commercial agencies, in the presence of the Minister of Economy, Abdullah bin Touq Al Marri, and a number of leaders, ministry officials and government representatives.

A member of the Financial, Economic and Industrial Affairs Committee in the parliament, Saeed Rashid Al-Abedy, confirmed that the committee completed yesterday studying the draft law in all its aspects, and submitted it to the parliament for discussion with the government, in preparation for its parliamentary approval during its session today, explaining that the draft law consists of 27 articles aimed at updating The provisions regulating the activity of commercial agencies in the state, and enhancing the role of this vital activity in sustainably supporting the national economy, and keeping pace with the economic trends adopted by the state, especially in the field of investment promotion, as well as promoting transparency, integrity and balance between agent and client relationships.

Al-Abedy told "Emirates Today" that "after studying and discussing the draft law with all relevant authorities, the committee reformulated some articles in line with future economic trends, with the interest of the national economy and national security, in line with the Consumer Protection Law, and establishes a competitive and sustainable economic system." Its positive results are reflected in all sectors.”

He added that «the new draft law introduced good legal articles and new ideas that are consistent with the economic launch of the state, take into account global changes, openness to intra-state trade, and encourage and attract foreign capital to invest in the state, especially as it takes into account the creation of a state of balance between the interests of the agent. It preserves the national investor and welcomes the foreign investor at the same time.”

Al-Abedy revealed that the most prominent content of the draft law is the eligibility of the two parties to the agency (the agent and the principal) to terminate the agency contract by mutual consent between the two parties, and to ensure that the agent is entitled to compensation for his huge investments, in the event of an agreement to terminate the agency contract, especially for giant agencies or those that continued The relationship between the agent and the principal for many years, as well as the assertion of the principal’s right to obligate the agent to implement the terms and conditions of the agency contract, and the principal’s right to terminate the agency in the event of the agent’s failure to abide by the terms of the contract.

He said: «Among the articles that were finalized in the new draft law, the expiration of the date of the agency contract does not necessarily mean the end of the agency between the principal and the agent. its investments,” pointing out that the notification period extends to five years for large commercial agencies specialized in the durable goods sector, in order to provide an adequate opportunity for the agent to maintain his investment entity.

During the session, the second deputy speaker of the council, Naama Abdullah Al-Sharhan, directed a parliamentary question to the Minister of Human Resources and Emiratisation, Dr. Abdul Rahman Abdul-Mannan Al-Awar, about the disbursement of annual bonuses to national employees working in the private sector.

Al-Sharhan informed «Emirates Today» that her question aims to determine the role of the ministry in following up the extent of the commitment of companies and employers affiliated to the private sector, to pay the entitlements of their national employees, especially periodic and special bonuses, in accordance with the laws, stressing that the commitment to disbursing bonuses would enhance the attractiveness of the labor market in the private sector. for citizen cadres.

She said: "What prompted me to ask this question is that I received dozens of complaints from citizens who work for private institutions, who do not receive the annual bonuses that are considered their right, some of which are due to linking the bonuses to performance appraisal only, which affects the total pension salary."

She confirmed her intention to submit a parliamentary proposal to the Minister of Human Resources and Emiratisation, to establish a ministerial committee to monitor the foundations for setting bonuses for national employees, and to follow up on the extent of the commitment of employers in the private sector to spend them.

Unemployment rates in the "private"

Member of the Federal National Council, Maryam Majid bin Thaniah, directed a parliamentary question to the Minister of Human Resources and Emiratisation, Dr. Abdul Rahman Abdul Manan Al Awar, about unemployment rates in private sector establishments.

The question states that “the unemployment rate represents one of the most important indicators on which labor market policies are built, and since the competencies of the Ministry of Human Resources and Emiratisation include drawing up the general policy for the resettlement of human resources in the labor market, and preparing training and rehabilitation programs for citizens looking for work. The ministry and the rest of the government websites did not find an approved rate of unemployment among citizens, so what is the unemployment rate on which the ministry builds its policy of resettlement and plans for training and rehabilitation, and what is the impact of that rate on the ministry’s plans to carry out its functions in the aspect of settlement?

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