How to secure your rights while lending money to a friend

Question

Q: What is the procedure to validate a promissory note in Dubai for a person from India currently working in Dubai? I am lending an amount to my friend… A: Promissory note may not be the most legally effective route. We recommend implementing an official Loan Agreement between the concerned parties…

Hayyan Khan · Accepted Answer

Hello,

In such a case, a promissory note may not be the most legally effective route. We recommend implementing an official Loan Agreement between the concerned parties.

Once drafted, the agreement will be notarized by Dubai Courts. The notarization process will ensure that the agreement is legally binding and effective, as per the UAE law.

For further information, please contact us by email.

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