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Simple Cost Sharing Agreement

Simple Cost Sharing Agreement Template for United Arab Emirates

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Key Requirements PROMPT example:

Simple Cost Sharing Agreement Template

"I need a Simple Cost Sharing Agreement Template for two UAE companies sharing office space and facilities in Dubai, with a 60-40 split of all operational costs, starting from March 1, 2025."

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This Simple Cost Sharing Agreement Template is designed for use in the United Arab Emirates when two or more parties need to establish a formal arrangement for sharing specific costs, expenses, or resources. The template is particularly useful for businesses operating in shared facilities, joint ventures, or group companies looking to allocate common expenses efficiently. It addresses key requirements under UAE Federal Law, including the Civil Code and Commercial Code, and provides clear mechanisms for cost allocation, payment procedures, and dispute resolution. The document includes essential provisions required by UAE law while maintaining flexibility to accommodate various business relationships and cost sharing scenarios. This template is suitable for both simple and complex cost sharing arrangements, with optional clauses that can be included based on specific requirements.
Suggested Sections

1. Parties: Identification of all parties to the agreement, including their legal names, registration numbers, and registered addresses

2. Background: Context of the agreement, including the purpose of the cost sharing arrangement and the relationship between the parties

3. Definitions and Interpretation: Definitions of key terms used in the agreement and rules for interpreting the agreement

4. Scope of Cost Sharing: Clear definition of which costs are to be shared and which are excluded

5. Cost Allocation Method: Detailed explanation of how costs will be allocated between parties, including the basis for calculation

6. Payment Terms: Terms for payment including timing, method, and currency of payments

7. Budgeting and Forecasting: Process for creating and approving budgets and cost forecasts

8. Record Keeping and Audit Rights: Requirements for maintaining financial records and rights to audit shared costs

9. Term and Termination: Duration of the agreement and circumstances under which it can be terminated

10. Governing Law and Jurisdiction: Specification of UAE law as governing law and jurisdiction for dispute resolution

Optional Sections

1. Intellectual Property Rights: Include when the cost sharing arrangement involves development or use of intellectual property

2. Confidentiality: Include when parties need to share sensitive financial or business information

3. Tax Considerations: Include when specific tax implications need to be addressed, particularly regarding VAT

4. Force Majeure: Include when parties want specific provisions for handling unforeseen circumstances

5. Insurance Requirements: Include when shared activities require specific insurance coverage

6. Change Control: Include when the cost sharing arrangement might need formal procedures for making changes

7. Dispute Resolution: Include when parties want specific dispute resolution procedures beyond standard court proceedings

8. Assignment and Subcontracting: Include when parties might need to transfer rights or obligations

Suggested Schedules

1. Schedule 1: Cost Categories: Detailed breakdown of all cost categories included in the sharing arrangement

2. Schedule 2: Allocation Methodology: Detailed methodology for calculating each party's share of costs

3. Schedule 3: Payment Procedures: Specific procedures for invoicing, payment, and reconciliation

4. Schedule 4: Reporting Templates: Standard templates for regular cost reporting and reconciliation

5. Schedule 5: Budget Framework: Template and guidelines for budget preparation and approval

6. Appendix A: Contact Details: Key contact persons for each party for various aspects of the agreement

7. Appendix B: Service Levels: If applicable, service levels related to the shared costs or activities

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

Linkedin in social icon imageX social icon image
alex.den.21@genieai.co
Relevant legal definitions
Agreed Proportion
Agreement
Applicable Laws
Business Day
Commencement Date
Confidential Information
Cost Pool
Cost Sharing Ratio
Direct Costs
Effective Date
Eligible Costs
Excluded Costs
Financial Year
Force Majeure Event
Indirect Costs
Initial Term
Intellectual Property Rights
Invoice
Key Performance Indicators
Operating Costs
Participating Party
Payment Date
Payment Period
Permitted Purpose
Quarter
Reconciliation Period
Renewal Term
Service Levels
Shared Costs
Shared Facilities
Shared Resources
Shared Services
Term
UAE
UAE Dirham
VAT
Working Hours
Clauses
Parties and Interpretation
Definitions
Cost Allocation
Payment Terms
Budget and Forecasting
Record Keeping
Audit Rights
Reporting Requirements
Service Levels
Term and Duration
Termination
Confidentiality
Data Protection
Intellectual Property
Force Majeure
Assignment and Transfer
Dispute Resolution
Governing Law
Notices
Entire Agreement
Severability
Amendments
Third Party Rights
Compliance with Laws
Anti-corruption
Tax Compliance
Insurance
Liability and Indemnification
Representatives and Authority
Good Faith and Fair Dealing
Relevant Industries

Real Estate

Professional Services

Technology

Manufacturing

Financial Services

Healthcare

Retail

Construction

Energy

Logistics

Shared Services

Consulting

Education

Hospitality

Relevant Teams

Legal

Finance

Operations

Commercial

Procurement

Compliance

Facilities Management

Project Management

Business Development

Risk Management

Corporate Services

Administration

Relevant Roles

Chief Financial Officer

Finance Director

Legal Counsel

Operations Manager

Commercial Director

Business Development Manager

Project Manager

Facilities Manager

Procurement Manager

Compliance Officer

Contract Manager

Financial Controller

Managing Director

General Manager

Account Manager

Industries
UAE Federal Law No. 5 of 1985 (Civil Code): Governs civil transactions and provides the basic framework for contracts, including formation, validity, and termination conditions
UAE Federal Law No. 18 of 1993 (Commercial Code): Regulates commercial transactions and business relationships between parties, including payment terms and commercial obligations
Federal Decree-Law No. 8 of 2017 on Value Added Tax: Governs VAT implications on cost sharing arrangements and how shared costs should be treated for tax purposes
UAE Federal Law No. 2 of 2015 on Commercial Companies: Relevant for understanding the legal framework when cost sharing occurs between different types of business entities
UAE Federal Law No. 18 of 1981 (Commercial Agency Law): May be relevant if the cost sharing agreement involves agency relationships or distribution arrangements
UAE Federal Law No. 4 of 2012 on Competition Regulation: Ensures that cost sharing arrangements do not violate anti-competition regulations
UAE Federal Law No. 11 of 1992 (Civil Procedure Law): Governs dispute resolution procedures and enforcement of agreements
UAE Federal Law No. 24 of 2006 (Consumer Protection Law): May be relevant if the cost sharing affects end consumers or involves consumer-related services
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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