Judicial principle — Kuwait Court of Cassation

Kuwait Court of Cassation principle number 300

State of Kuwait · Commercial and Labour — Volume 9 · Ministry of Justice — Court of Cassation — Technical Office

English translation of the principle

Transactions relating to insurance of its various types are considered commercial transactions pursuant to Article Five of the Commercial Law. Statutory interest of 7% is due for delay in paying debts arising therefrom, from the due date.
Arabic original
اعتبار الأعمال المتعلقة بالتأمين بأنواعه المختلفة أعمالاً تجارية وفقاً للمادة الخامسة من ق التجارة. استحقاق فوائد قانونية عن التأخير في الوفاء بالديون الناشئة عنها قدرها ٧ ٪ من تاريخ الاستحقاق.
Original Arabic judgment citations

(الطعن ١/٢٠٠٤ تجاري جلسة ١٨/٤/٢٠٠٦ مج القسم الخامس - المجلد الثالث ص ٤٥)

Source: Court of Cassation legal principles collection — Commercial and Labour — Volume 9 — Ministry of Justice — Court of Cassation — Technical Office. Printed page 60. PDF pages: 60.

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