Tunisia Introduces New Law on Checks without Provision
The latest issue of the Official Journal of the Tunisian Republic has published Law No. 41 of 2024, dated August 2, 2024. This law, which modifies and completes certain provisions of the Commercial Code, is known as the law on checks without provision. It is set to come into effect within a maximum period of six months from its publication and introduces several new regulations related to checks.
According to this new law, each check will now have a maximum amount and a fixed validity date set by the bank, varying depending on the solvency of each client, with a maximum amount fixed at 30,000 TND. All checks will be crossed by default, unless a justified request is made by the client.
A digital platform will be set up by the Central Bank, with the participation of banks, to allow each beneficiary of a check to instantly verify the existence of the provision and reserve it if desired. The bank of the check issuer will then have to validate or not this reservation.
Notice of an unpaid check will now be communicated via the electronic platform, and deadlines will be limited to a single deadline of 7 working days, after which the bank will issue a certificate of non-regularization.
Legal proceedings against the issuer of an unpaid check can only be initiated by the beneficiary of the check. Furthermore, there will no longer be possible legal proceedings for unpaid checks below 5,000 dinars.
Before any legal proceedings, the public prosecutor may schedule conciliation sessions to find an arrangement between the issuer and the beneficiary of an unpaid check. The regularization of the check must then be made within a period of 9 months, extendable once by three months. The regularization of the unpaid check will immediately stop the legal proceedings and the penalty incurred.
