Questions & Answers
Terminating contract and refund for misrepresentation by company
An online company represents that it can offer financial CFD services to the UAE residents but it is later found that the correct authorization or licence was not held.
Would this misrepresentation allow the recission of any contracts and refund?
Hi,
The UAE law mandates that in order to carry out any business, relevant licenses and approvals must be obtained from the applicable jurisdiction (whether mainland or free zone).
In order to rescind contracts and/or be eligible for a refund, this can be done by way of a Legal Notice.
Through the Legal Notice, based on the supporting documents that you will provide, we can notify the company of their breaches as per the UAE law.
Furthermore, within the Legal Notice, we will address the company's malpractice and demand damages in the form of a refund of the amount you paid.
Should the company still be unwilling to respond and/or rectify its violations, we may resort to filing a legal claim at the appropriate court.
Should you wish to further discuss this matter, please feel free to contact us at our email.
