Questions & Answers
Requirement of a special agreement in case of lending money to a friend
Hi,
I have lent money over a period of time to a friend (without any interest).
I do have a simple payment agreement duly signed by my friend that sets out the amount to be repaid on a monthly basis.
I would like to know if there is a template for such an agreement that safeguards my interests in case of default and that is valid under the UAE legal system.
Would appreciate your advice and guidance.
Hello,
Absolutely. There are certain agreements that have been drafted with a strong framework to ensure your rights in the event of a breach of the terms.
This is achieved by directly linking the terms of the contract to relevant UAE laws and regulations. We are happy to review your current agreement and advise on any required modifications.
For further information, please contact us at our email.
