During a legislative session on Monday, the House of Representatives referred the Amended Draft of the Traffic Law to a joint committee consisting of the Legal Committee and the Services and Transport Committee.
اضافة اعلان
According to the proposed amendments, citizens will be empowered to conduct all procedures and transactions related to the sale and purchase of vehicles—including the payment of the purchase price—using electronic means, remote processing, and certified electronic signatures.
Digital Notarization and Licensing
For this purpose, electronic signatures will be adopted by the Notary Public for vehicle transactions, allowing sales to be completed without physical presence. This will be facilitated through the authorized use of electronic, visual, and audio communication, as well as electronic signatures for notary procedures conducted by officers and non-commissioned officers at the Driver and Vehicle Licensing Department (DVLD).
Financial Guarantees and Escrow Accounts
To ensure the integrity of electronic transactions and protect owners' rights, the system requires the buyer to deposit the vehicle's price into a specialized escrow account at the Licensing Department. The funds will be transferred to the seller’s account immediately upon the completion of the sale.
Furthermore, a specific regulation will be issued to organize vehicle sales and purchases conducted through various financing institutions, aligning them with the new electronic mechanism. These measures aim to eliminate the need for citizens to physically visit licensing centers.
Management of Impounded Vehicles
The amendments also grant competent authorities the power to sell vehicles in impound lots after one year instead of two, should the owners fail to rectify their status. This change addresses the rapid depreciation of vehicles held for extended periods and protects the rights of mortgagees or seizing entities.
