Saudi Arabia’s new franchise law referred for approval

Saudi Arabia’s new franchise and procurement law will be referred to the Cabinet for approval, Okaz newspaper reported, citing the chairman of The Saudi Contractors Authority (SCA).

"SCA reviewed the new law and submitted more than 100 amendments; many of which were already factored in," Osama bin Hasan Al Afaleq said.

The new franchise law, which comprises 26 articles, aims to govern the relationship between the franchisor and franchisee in light of transparency.

On the other hand, the procurement law, which has 97 articles, also regulates the procedures related to business and procurement, and to prevent abuse of power and personal interests so as to protect public funds as well as to achieve best value for public money.