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Offer Of Purchase And Sale Template for United Arab Emirates

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Key Requirements PROMPT example:

Offer Of Purchase And Sale

"I need an Offer of Purchase and Sale agreement for acquiring a commercial warehouse in Dubai Industrial City, with completion planned for March 2025, including specific conditions for environmental compliance and existing tenant arrangements."

Document background
The Offer of Purchase and Sale is a crucial document in UAE commercial and property transactions, used when one party intends to purchase assets or property from another. This document type is essential in the UAE market where property transactions and commercial deals must comply with both federal laws and emirate-specific regulations. The agreement serves as the foundation for the transaction, documenting key terms including price, payment structure, conditions precedent, and completion requirements. It must align with UAE Civil Code requirements, relevant commercial regulations, and where applicable, specific real estate laws of individual emirates. The Offer of Purchase and Sale is particularly important in the UAE context as it needs to accommodate local business practices while ensuring enforceability under UAE law, including consideration of Sharia principles where relevant.
Suggested Sections

1. Parties: Identification of the seller and purchaser with full legal names, addresses, and registration details if companies

2. Background: Context of the transaction and brief description of the property or assets being sold

3. Definitions: Key terms used throughout the agreement, including specific UAE legal terminology

4. Subject Matter of Sale: Detailed description of the property/assets being sold, including all relevant identification details

5. Purchase Price: Statement of the purchase price, currency, and payment terms including deposit requirements

6. Payment Terms: Detailed payment schedule, method of payment, and consequences of default

7. Conditions Precedent: Essential conditions that must be satisfied before the sale becomes binding

8. Completion: Details of the completion process, timing, and requirements for transfer of ownership

9. Seller's Warranties: Warranties regarding ownership, authority to sell, and condition of the property/assets

10. Purchaser's Warranties: Warranties regarding authority to purchase and financial capacity

11. Default and Termination: Consequences of breach and circumstances allowing termination

12. Governing Law and Jurisdiction: Specification of UAE law and relevant emirate jurisdiction

Optional Sections

1. Financing Conditions: Include when purchase is subject to obtaining financing, specifying conditions and deadlines

2. Due Diligence: Include when purchaser requires a due diligence period before finalizing the purchase

3. Property Inspection: Include for real estate transactions requiring physical inspection

4. Regulatory Approvals: Include when transaction requires specific government or regulatory approvals

5. Environmental Matters: Include for industrial property or when environmental issues are relevant

6. Employee Matters: Include when purchase includes transfer of employees or labor obligations

7. Intellectual Property: Include when purchase includes transfer of IP rights

8. Tax Matters: Include when specific tax considerations need to be addressed

9. Force Majeure: Include when specific force majeure provisions are needed beyond standard UAE law provisions

Suggested Schedules

1. Property Description Schedule: Detailed technical description of property/assets including boundaries, specifications, or inventory

2. Payment Schedule: Detailed breakdown of payment installments and timing

3. Due Diligence Requirements: List of required documents and information for due diligence

4. Form of Transfer Deed: Template for the final transfer document required by UAE authorities

5. Encumbrances Schedule: List of any existing encumbrances, liens, or restrictions on the property

6. Required Consents: List of third-party or regulatory consents required for completion

7. Completion Checklist: List of documents and actions required for completion

Authors

Alex Denne

Head of Growth (Open Source Law) @ tiktok³ÉÈ˰æ | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

Relevant legal definitions































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Relevant Industries

Real Estate

Manufacturing

Retail

Professional Services

Industrial

Technology

Healthcare

Hospitality

Construction

Energy

Agriculture

Automotive

Education

Financial Services

Relevant Teams

Legal

Finance

Commercial

Real Estate

Operations

Compliance

Risk Management

Corporate Development

Property Management

Business Development

Procurement

Investment

Asset Management

Relevant Roles

Chief Executive Officer

Chief Financial Officer

Legal Counsel

Commercial Director

Real Estate Manager

Property Developer

Business Development Manager

Investment Manager

Compliance Officer

Operations Director

Procurement Manager

Asset Manager

Contract Manager

Risk Manager

Corporate Secretary

Finance Director

Industries







Teams

Employer, Employee, Start Date, Job Title, Department, Location, Probationary Period, Notice Period, Salary, Overtime, Vacation Pay, Statutory Holidays, Benefits, Bonus, Expenses, Working Hours, Rest Breaks,  Leaves of Absence, Confidentiality, Intellectual Property, Non-Solicitation, Non-Competition, Code of Conduct, Termination,  Severance Pay, Governing Law, Entire Agreemen

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