The Agreement for Deposit Payment is a crucial document used in the United Arab Emirates to secure and formalize deposit arrangements between parties. It is commonly utilized in various transactions including real estate purchases, commercial deals, service contracts, and lease agreements. The document ensures compliance with UAE Civil Code (Federal Law No. 5 of 1985) and relevant commercial regulations, providing legal protection for both the party making the deposit and the recipient. This agreement type is particularly important in the UAE market where significant deposit payments are common practice in business transactions. It typically includes detailed provisions for payment terms, conditions for deposit return or forfeiture, and specific obligations of each party, while incorporating necessary protections under UAE law.
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1. Parties: Identification and details of the parties entering into the agreement, including full legal names, addresses, and registration details if companies
2. Background: Context of the agreement, including the purpose of the deposit and the broader transaction it relates to
3. Definitions: Key terms used throughout the agreement defined for clarity and legal certainty
4. Deposit Amount: Specification of the deposit amount, currency, and payment method
5. Payment Terms: Details of when and how the deposit must be paid, including account details and payment timeline
6. Purpose of Deposit: Clear statement of what the deposit is securing and its relationship to the main transaction
7. Conditions for Return: Circumstances under which the deposit will be returned or forfeited
8. Representations and Warranties: Statements of fact and promises made by each party regarding their capacity and authority
9. Governing Law and Jurisdiction: Specification of UAE law as governing law and jurisdiction for dispute resolution
1. Multiple Installments: Include when the deposit is to be paid in multiple installments, detailing the schedule and amounts
2. Interest Terms: Include if the deposit will accrue interest, ensuring Sharia compliance if applicable
3. Security Provisions: Include when additional security measures are required for the deposit
4. Force Majeure: Include when specific events should be identified that would affect the deposit obligations
5. Confidentiality: Include when the deposit relates to sensitive commercial transactions
6. Assignment: Include when either party may need to transfer their rights or obligations
7. Dispute Resolution: Include detailed arbitration or mediation procedures if preferred over court proceedings
1. Payment Schedule: Detailed breakdown of payment dates and amounts if multiple payments are involved
2. Bank Details: Complete banking information for deposit payment, kept separate for security and easy updates
3. Related Transaction Documents: List and copies of documents related to the main transaction the deposit is securing
4. Authorized Signatories: List of persons authorized to act on behalf of each party regarding the deposit
5. Calculation Method: If applicable, detailed explanation of how deposit amounts or returns are calculated
Relevant legal definitions
Agreement
Deposit
Deposit Amount
Business Day
Effective Date
Payment Date
Bank Account
Transaction
Completion Date
Deposit Return Date
Force Majeure Event
Governing Law
Notice
Party
Parties
Related Documents
Security Interest
Default Event
Interest Rate
Payment Method
Principal Agreement
Refund
Term
UAE
Working Hours
Deposit
Deposit Amount
Business Day
Effective Date
Payment Date
Bank Account
Transaction
Completion Date
Deposit Return Date
Force Majeure Event
Governing Law
Notice
Party
Parties
Related Documents
Security Interest
Default Event
Interest Rate
Payment Method
Principal Agreement
Refund
Term
UAE
Working Hours
Clauses
Payment Terms
Deposit Amount
Return of Deposit
Forfeiture Conditions
Security Measures
Interest
Default
Force Majeure
Representations and Warranties
Confidentiality
Notices
Assignment
Governing Law
Jurisdiction
Dispute Resolution
Entire Agreement
Severability
Amendment
Third Party Rights
Costs
Counterparts
Language
Time of Essence
Further Assurance
Waiver
Deposit Amount
Return of Deposit
Forfeiture Conditions
Security Measures
Interest
Default
Force Majeure
Representations and Warranties
Confidentiality
Notices
Assignment
Governing Law
Jurisdiction
Dispute Resolution
Entire Agreement
Severability
Amendment
Third Party Rights
Costs
Counterparts
Language
Time of Essence
Further Assurance
Waiver
Relevant Industries
Real Estate
Construction
Retail
Manufacturing
Professional Services
Hospitality
Technology
Banking & Finance
Trading
Automotive
Healthcare
Education
Industrial
Logistics
Commercial Leasing
Relevant Teams
Legal
Finance
Sales
Procurement
Operations
Risk & Compliance
Real Estate
Commercial
Business Development
Contract Administration
Relevant Roles
Legal Counsel
Contract Manager
Business Development Manager
Finance Manager
Real Estate Agent
Property Manager
Procurement Manager
Sales Manager
Commercial Director
Chief Financial Officer
Operations Manager
Risk Manager
Compliance Officer
Project Manager
General Manager
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