Private Sales Agreement for United Arab Emirates

Private Sales Agreement Template for United Arab Emirates

A comprehensive legal document governed by UAE law that formalizes the sale and purchase of goods or assets between private parties. This agreement is structured in accordance with UAE Civil Code (Federal Law No. 5 of 1985) and Commercial Transactions Law (Federal Law No. 18 of 1993), incorporating essential elements such as detailed descriptions of goods, pricing, payment terms, delivery arrangements, and warranty provisions. The document ensures compliance with UAE legal requirements while protecting both parties' interests through clear allocation of rights, responsibilities, and risks associated with the transaction.

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What is a Private Sales Agreement?

The Private Sales Agreement is a fundamental legal instrument used in the United Arab Emirates for documenting private sale transactions between parties. It is particularly relevant for businesses and individuals engaging in the sale and purchase of goods, equipment, or other movable assets. This document type is structured to comply with UAE Civil Code and Commercial Transactions Law requirements, making it suitable for both commercial and private transactions. The agreement typically includes comprehensive details about the sale item(s), price, payment terms, delivery arrangements, warranties, and risk transfer provisions. It serves as a crucial tool for risk management and dispute prevention, providing clear documentation of the parties' obligations and rights under UAE law.

What sections should be included in a Private Sales Agreement?

1. Parties: Identifies and provides full details of the seller and buyer, including names, addresses, and registration details if companies

2. Background: Contextual information about the sale and the parties' intentions

3. Definitions: Defines key terms used throughout the agreement

4. Sale and Purchase: Core terms of the sale including description of goods/property being sold

5. Purchase Price: Specifies the price, payment terms, and payment method

6. Delivery: Details of delivery arrangements, timing, and location

7. Title and Risk: Specifies when title passes and risk transfer provisions

8. Seller's Warranties: Warranties regarding ownership, condition, and quality of the sale items

9. Buyer's Warranties: Warranties from the buyer regarding authority to enter agreement and payment capability

10. Condition of Goods: Description of the condition of goods and any known defects

11. Termination: Circumstances under which the agreement can be terminated

12. Governing Law and Jurisdiction: Confirms UAE law governance and jurisdiction for disputes

13. Execution: Signature blocks and execution formalities

What sections are optional to include in a Private Sales Agreement?

1. Intellectual Property: Required when sale includes IP rights or licensed materials

2. Confidentiality: Include when sensitive information will be exchanged

3. Insurance: Needed for high-value items or where specific risks need to be covered

4. Export/Import Requirements: Include for international sales or items requiring special permits

5. Security Interest: Include when payment is in installments or there's a retention of title

6. Force Majeure: Optional but recommended for high-value sales or long-term delivery arrangements

7. Anti-Money Laundering: Include for high-value transactions or when required by UAE regulations

8. Inspection Rights: Include when buyer needs to verify condition before completion

What schedules should be included in a Private Sales Agreement?

1. Schedule 1 - Description of Goods: Detailed specification of items being sold

2. Schedule 2 - Payment Schedule: If payment is in installments or multiple phases

3. Schedule 3 - Delivery Schedule: For multiple deliveries or complex delivery arrangements

4. Schedule 4 - Condition Report: Detailed report of item condition, especially for used goods

5. Schedule 5 - Required Documents: List of documents to be provided by seller (certificates, manuals, etc.)

6. Appendix A - Photographs: Visual documentation of items being sold

7. Appendix B - Technical Specifications: Technical details and specifications of items

Authors

Alex Denne

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

Publisher

Genie AI

Document Type

Purchase Agreement

Cost

Free to use
Relevant Industries

Retail

Manufacturing

Automotive

Electronics

Furniture

Luxury Goods

Industrial Equipment

Construction Materials

Textiles

Consumer Goods

Art and Collectibles

Agricultural Products

Medical Equipment

Technology

Real Estate Personal Property

Relevant Teams

Legal

Commercial

Procurement

Sales

Finance

Operations

Compliance

Risk Management

Supply Chain

Business Development

Contract Administration

Relevant Roles

Legal Counsel

Commercial Manager

Procurement Manager

Sales Director

Business Development Manager

Contract Administrator

Chief Financial Officer

Operations Manager

Risk Manager

Compliance Officer

General Manager

Managing Director

Supply Chain Manager

Category Manager

Asset Manager

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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