The Economic Corporation issues a circular regarding not concluding any contracts related to actions, such as buying and

Publish Date 2023-06-13 07:04:36

The Economic Corporation issues a circular regarding not concluding any contracts related to actions, such as buying and selling real estate and assets of the Corporation

Mukalla - November 15, 2021 / Media of the Economic Foundation

The General Administration of the Yemeni Economic Corporation announced in a legal circular to all investors, merchants, companies, institutions and banks, with their natural and legal persons, not to conclude any contracts related to actions such as buying and selling real estate of the Corporation with any party whatsoever, and no party has the right to assign or sell the property and assets of the Corporation as it is money and a public right.

The legal circular indicated for those wishing to conclude lease contracts, partnership or investment in the real estate of the institution or any business that is in the public interest of the economic institution, to go to the authority legally authorized to sign these contracts, which is the general administration of the Yemeni economic institution represented by its director general, Brigadier General Sami Saleh Al-Saeedi, provided that the Department of Affairs Legal in the general administration of the institution to prepare and review these contracts.

The circular confirmed that every contract concluded otherwise and with any party other than what was mentioned in the legal circular are legally void contracts and do not entail any legal obligations towards the institution, and the institution reserves the right to sue anyone who violates this circular and considers him a trespasser on state property