Questions & Answers
Questions & Answers
3 available 3 • View allLiability of the guarantor toward creditors in the UAE

6
Q: Hello,
I signed as a guarantor for my brother for a company loan he took, I was a partner. However, my brother has left the country 2 years ago.
Now, I have a civil case on me and the court and bank ask me to pay the amount of AED 450,000.
Please advise, what happens if I am unable to pay this money?


Oct 21, 2018
4866
Liability of employee for the loan taken in the company's name
3
Q: I have taken a loan for a company which I was working as an Accountant. Whether I am liable for such a loan for the company?
The bank has given the loan in the name of the company and the bank has taken a security cheque from my employer. In such a situation, whether any GCC ban will be there as I have left the country also?

Mar 26, 2017
3857
Liability of a guarantor after the debtor fled the country

12
Q: Hello
I signed as a guarantor for a person's company loan for AED 500,000.
The person is no longer in the country and now there is a civil case on me.
What is the penalty or jail term I would be looking at?
If I go through the jail term, is the outstanding amount is also cleared?


Oct 9, 2018
7521
Laws & Regulations
1 available 1 • View allFederal Law No. (5) of 1985 On the Civil Transactions Law of the United Arab Emirates 96
The provisions of this law, promulgating UAE Civil Code, govern the civil transactions in the United Arab Emirates. The commercial transactions remain subject to the laws and regulations applicable in their regard.
Dec 15, 1985
148541

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Can the employer force the housmaid to work for unlimited hours without rest? 0
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How to file a case against my former company for unpaid salary I was not on their visa? 0
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