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Agreement Between Two Persons For Money Template for United Arab Emirates

A legally binding agreement governed by UAE law that documents and formalizes a monetary arrangement between two individuals. The agreement complies with UAE Civil Code (Federal Law No. 5 of 1985) and incorporates relevant Sharia principles regarding financial transactions. It establishes the terms of payment, repayment schedule, and obligations of both parties while ensuring adherence to UAE Central Bank regulations and anti-money laundering requirements. The document includes essential provisions for dispute resolution under UAE jurisdiction and can be used for both personal and business-related monetary arrangements.

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What is a Agreement Between Two Persons For Money?

The Agreement Between Two Persons For Money is a formal contract designed for use in the United Arab Emirates when two individuals need to document a monetary arrangement. This document is essential when private individuals engage in financial transactions, whether for personal, investment, or business purposes. It ensures compliance with UAE laws, including the Civil Code (Federal Law No. 5 of 1985) and relevant Sharia principles regarding financial dealings. The agreement covers crucial elements such as the principal amount, payment terms, repayment schedule, and consequences of default, while incorporating necessary provisions to make it enforceable under UAE law. It's particularly useful for personal loans, investment arrangements, or other monetary transactions where formal documentation is required to protect both parties' interests.

What sections should be included in a Agreement Between Two Persons For Money?

1. Parties: Identification and details of both parties including full legal names, Emirates ID numbers, and contact information

2. Background: Context of the agreement and relationship between parties

3. Definitions: Key terms used throughout the agreement

4. Principal Amount: Clear statement of the amount of money being transferred/lent

5. Payment Terms: Details of how and when the money will be repaid, including payment schedule

6. Method of Payment: Specified payment methods and account details

7. Representations and Warranties: Statements of fact by both parties regarding their capacity to enter into the agreement

8. Events of Default: Circumstances constituting default and consequences

9. Notices: How formal communications between parties should be made

10. Governing Law and Jurisdiction: Confirmation of UAE law application and jurisdiction

11. Entire Agreement: Standard clause confirming this document represents the complete agreement

What sections are optional to include in a Agreement Between Two Persons For Money?

1. Security: Details of any collateral or guarantee provided - include if there is security for the payment

2. Early Repayment: Terms for early repayment of the amount - include if early repayment is permitted

3. Late Payment: Consequences and charges for late payment - include if specific penalties will apply

4. Assignment: Whether rights under the agreement can be transferred - include if assignment needs to be addressed

5. Force Majeure: Provisions for unforeseen circumstances - include for longer-term payment arrangements

6. Confidentiality: Obligations to keep agreement terms private - include if confidentiality is important to parties

7. Sharia Compliance: Specific provisions ensuring compliance with Islamic finance principles - include if parties require explicit Sharia compliance

What schedules should be included in a Agreement Between Two Persons For Money?

1. Payment Schedule: Detailed breakdown of payment dates and amounts

2. Bank Details: Complete banking information for both parties

3. Identity Documents: Copies of Emirates ID and other identification documents

4. Security Documents: Details and copies of any security arrangements if applicable

5. Proof of Funds: Documentation showing source and availability of funds

Authors

Alex Denne

Head of Growth (Open Source Law) @ tiktok成人版 | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents

Document Type

Loan Agreement

Sector

Banking

Cost

Free to use

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