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United Arab Emirates (UAE) Default

Awatif Mohammad Shoqi Advocates & Legal...

What legal actions can the bank take if the customer defaults on a loan in the UAE?

Defaulting on a bank loan in the UAE is regulated by the Commercial Code (federal decree-law No. (50) of 2022) and the Civil Procedure Law (federal decree-law No. (42) of 2022). Further, the Central Bank of UAE issued Loan...more

Awatif Mohammad Shoqi Advocates & Legal...

The Implication Of Imposing Interest In The UAE

In the current world, where trade ties are vital in strengthening the economy of a country, it is often necessary to enter into legal contracts with various entities around the world. It is also necessary that these contracts...more

Awatif Mohammad Shoqi Advocates & Legal...

Can Banks Deduct Money from End-of-Service Benefits to Cover Default Payments on a Personal Loan in the UAE?

In the UAE, Bank Loans Offered to Individual Customers are governed by Regulation No. 29/2011 Regarding Bank Loans & Other Services Offered to Individual Customers. Additionally, the Central Bank of the UAE issued Central...more

Vinson & Elkins LLP

Getting Paid: Mitigating Non-Payment Risks And Deploying “Self-Help” Remedies Under UAE Law

Vinson & Elkins LLP on

One of the biggest risks on any construction project is non-payment. This article sets out contractual measures to mitigate non-payment risks and describes “self-help” remedies to obtain payment under United Arab Emirates...more

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