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1. Parties: Identification of the Lender and Borrower with full legal names, Emirates ID numbers, and contact details
2. Background: Brief context of the loan arrangement between the friends and purpose of the agreement
3. Definitions: Key terms used throughout the agreement including 'Loan Amount', 'Vehicle', 'Payment Schedule', etc.
4. Loan Details: Specific details of the loan including principal amount, any applicable interest/profit rate (considering UAE regulations), and term of the loan
5. Vehicle Details: Comprehensive description of the vehicle including make, model, year, color, VIN, and registration number
6. Payment Terms: Payment schedule, method of payment, and consequences of late or missed payments
7. Security and Registration: Details of vehicle registration and any security arrangements over the vehicle
8. Borrower's Obligations: Key responsibilities including vehicle maintenance, insurance, and usage restrictions
9. Default Provisions: Circumstances constituting default and consequences thereof
10. Termination: Conditions and process for early termination or full repayment
11. Governing Law: Confirmation that UAE law governs the agreement
1. Insurance Requirements: Detailed insurance obligations if not covered in main obligations - use when specific insurance requirements are needed
2. Third-Party Authorization: Authorization for family members or others to operate the vehicle - include when vehicle will have multiple users
3. Sharia Compliance Declaration: Statement of Sharia compliance for the loan structure - include if parties wish to ensure Islamic finance principles
4. Dispute Resolution: Specific procedures for resolving disputes - include when parties want to specify mediation before court proceedings
5. Cross-Border Usage: Terms for using the vehicle outside UAE - include if vehicle might be driven in other GCC countries
6. Guarantor Provisions: Terms relating to a guarantor - include when a third party is guaranteeing the loan
1. Schedule 1 - Payment Schedule: Detailed breakdown of payment dates and amounts
2. Schedule 2 - Vehicle Condition Report: Documentation of vehicle condition at time of agreement
3. Schedule 3 - Vehicle Documents: Copies of registration, insurance, and other relevant vehicle documentation
4. Appendix A - Proof of Ownership: Copy of vehicle registration card and purchase documents
5. Appendix B - Insurance Certificates: Copies of relevant insurance policies
Borrower
Business Day
Default Event
Default Interest
Emirates ID
Effective Date
Final Payment Date
Insurance Policy
Interest Rate
Lender
Loan
Loan Amount
Payment Date
Payment Schedule
Principal Amount
Repayment Period
Security Interest
Term
Vehicle
Vehicle Documents
Vehicle Identification Number
Vehicle License
Vehicle Registration Card
Witness
Interest Payment
Vehicle Description
Security Interest
Registration Requirements
Insurance Obligations
Payment Terms
Default Provisions
Vehicle Usage
Maintenance Obligations
Early Repayment
Transfer Restrictions
Representations and Warranties
Default Remedies
Dispute Resolution
Governing Law
Force Majeure
Notices
Assignment
Termination
Amendment
Severability
Entire Agreement
Costs and Expenses
Indemnification
Vehicle Inspection
Registration Transfer
Default Interest
Acceleration Rights
Financial Services
Automotive
Legal Services
Insurance
Banking
Personal Finance
Transportation
Vehicle Leasing
Legal
Finance
Compliance
Risk Management
Personal Banking
Document Processing
Vehicle Registration
Underwriting
Advisory Services
Contract Administration
Legal Counsel
Finance Manager
Loan Officer
Personal Banking Advisor
Compliance Officer
Risk Assessment Manager
Vehicle Registration Officer
Insurance Underwriter
Financial Advisor
Legal Document Specialist
Contract Administrator
Private Banking Relationship Manager
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