Contract Drafting In UAE with Dhanguard.

02Oct, 23

Contract Drafting In UAE with Dhanguard.

In the dynamic business landscape of Dubai, the foundation of successful partnerships and transactions lies in meticulously crafted contracts. Contracts, agreements, and transaction documents are crucial and fundamental components of doing business for all types of companies and businesses. These documents are frequently complex legal documents that must include the required clauses to withstand lawsuits and are formal. Whether you're engaging in commercial deals, real estate investments, or blocks, the vitality of robust contractual agreements cannot be overstated. Thus, in today's blog, Dhanguard will extensively discuss every crucial aspect of commercial and legal contracts Drafting in the UAE. So, without any further ado, let's learn!

Understanding the Significance of Contract Drafting Services in the UAE

In a jurisdiction like the UAE, where legal frameworks are precise and stringent, the role of legal drafting services is paramount. Expertise in crafting comprehensive and airtight contracts tailored to the specifics of the UAE's legal system ensures clarity, mitigates risks, and safeguards the interests of all parties involved.

Commercial Contracts in Dubai

Commercial contracts form the backbone of business transactions in Dubai. From supply agreements to service contracts, these documents delineate the rights and obligations of each party, covering essential aspects like payment terms, delivery schedules, and dispute resolution mechanisms. Accurate drafting, accounting for local laws and customs, ensures these contracts hold legal weight and can be enforced in UAE courts.

What are the Components of a Commercial Contract in the United Arab Emirates?

The Civil Transactions Law, Federal Law No. 5 of 1985 (the Civil Code), founded on Sharia principles, governs business contracts in the United Arab Emirates. According to the Civil Code's codification of the excellent faith factor, all parties to an agreement must act honestly and fairly, a fundamental aspect of all commercial contracts.

According to the Civil Code, a business contract needs to include the following components:

  • An agreement will only be created and entered into with both party's mutual consent

  • A subject matter that can be defined or is capable of being defined and is, hence, acceptable

  • By applicable laws, the obligations and agreement's subject matter

The following elements will also be taken into consideration by the courts when determining whether or not the contract is legal:

  • if every phrase is certain

  • if both parties are legally capable of concluding the agreement

  • If there is a proposal and it is accepted

Drafting of Business Contracts

We can offer the most valuable and economical guidance while ensuring that all of your legal objectives and duties are satisfied because of our in-depth comprehension and expertise of the legal and regulatory environment in the UAE.

With individualized advice, our experts and case managers provide a range of services relating to commercial contracts:

  • Independent or peer analysis of existing contracts

  • T&C analysis concerning their terms and conditions

  • Recognizing and rectifying breaches in existing contracts

  • Attesting of signed agreements

  • Legal structuring and drafting of contracts

  • Bespoke clause drafting

  • Business Plan development

  • Contract negotiations with all (other) parties

Because of our close ties to several regulatory agencies, we are constantly updated on new developments in critical practice areas. Our expert team is precise, relevant, usable, and reasonable.

Commercial Agencies Legislation

We provide advice on a broad range of commercial agreements that companies in the United Arab Emirates need for day-to-day operations, considering the nature of the business and numerous commercial and legal concerns. Additionally, we offer guidance on all facets of commercial agencies and matters pertaining to commercial agency regulation.

We strive to completely protect your interests in a wide range of business contracts, which have been enumerated below-

  • Distributorships, franchises, commercial agencies

  • Commercial real estate transactions

  • Real estate financing

  • Construction documents

  • Joint ventures

  • Asset acquisition

  • Corporate structures and restructuring

  • Marketing and sales agreements

  • Service and consulting agreements

  • Memorandums and Articles of Association

  • Shareholder and partnership agreements

  • Share purchase

  • Management and operating agreements

  • Employment contracts

  • Non-disclosure agreements

Government Documents and Contracts

The Government of Dubai Legal Affairs Department frequently examines the contracts and agreements to which Dubai government entities are parties to protect their interests and ensure that the arrangements align with the laws now in effect. Similarly, authorities frequently examine court documents where their respective government authorities are parties in other emirates. Ensuring such contracts are appropriately designed and thoroughly inspected before submission is crucial.

  • Customized agreements for challenging and high-value instances or matters

  • Contracts and other legal records about procurement

  • IT agreements to which the government is a party

  • Registration of trademark, intellectual property, and ownership agreements

  • The agreements and contracts that affect government bodies financially or bring in monetary gain to the government

Real Estate Investment Partnership Agreements in the UAE

The real estate sector in the UAE is a hotbed for investment opportunities, attracting global investors. Crafting partnership agreements for real estate ventures demands acute attention to detail. These agreements outline profit-sharing mechanisms, responsibilities of each partner, exit strategies, and compliance with UAE's real estate laws. Expertise in real estate investment partnership agreement drafting in the UAE is crucial to safeguard investments and ensure smooth operations.

Conclusion

In Dubai's competitive and thriving business environment, the art of contract drafting is a pivotal skill. Engaging legal drafting services equipped with UAE-specific expertise is indispensable to navigate the legal intricacies and ensure the solidity of business contracts. Every word, clause, and stipulation in a contract holds weight, making precision the cornerstone of successful business agreements in the UAE. At Dhanguard, we specialize in legal drafting services tailored to the UAE's business landscape. Contact us to ensure your contracts meet the highest standards of precision and compliance. Thus, we hope this blog provides you with insightful information. For more information on other related aspects, check out our website.