Questions & Answers
Securing an investment with a proper legal instrument
Hi,
I am about to invest with a shipping company in Dubai. I will be loaning them USD 300K, at 1.25% per month, payable monthly with the loan due back in six months (with the ability to extend to a year).
I would like to securitize this with a promissory note / Post-dated cheque / Lawyer recommended legal instrument. I am a US citizen with no company or residency in Dubai.
Dear client,
Good day!
You should prepare a proper loan agreement and you should take guarantee cheques from the other party and undertaking which confirms the amount. And please make sure to write about your Returns of Investments very clearly.
You are entitled to 9-12% interest in case of any breach in payment. Also, put a penalty clause in the agreement to protect yourself. This agreement should have 2 witnesses who would sign with you.
For further assistance, please feel free to contact us via phone or email.
Thank you!
