Bank Loan Contract Template for United Arab Emirates

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Key Requirements PROMPT example:

Bank Loan Contract

"I need a Bank Loan Contract for a UAE-based manufacturing company borrowing AED 10 million from Emirates NBD, with the loan to be secured against company equipment and a personal guarantee from the majority shareholder, expected to be signed by March 2025."

Document background

The Bank Loan Contract serves as the primary legal document for lending transactions in the United Arab Emirates, establishing the relationship between financial institutions and borrowers. This document is essential when any UAE-licensed bank extends credit to corporate or individual borrowers, requiring compliance with UAE Federal Laws, Central Bank regulations, and potentially Sharia principles. The contract comprehensively covers loan terms, security requirements, borrower obligations, and enforcement mechanisms, while incorporating specific UAE regulatory requirements such as interest rate caps, documentation standards, and consumer protection provisions. It's particularly important that the agreement aligns with UAE Civil Transactions Law and Commercial Transactions Law, ensuring enforceability in UAE courts.

Suggested Sections

1. Parties: Identification of the lender (bank) and borrower with full legal names, addresses, and registration details as per UAE requirements

2. Background: Context of the loan agreement, purpose of the facility, and any relevant pre-contractual arrangements

3. Definitions: Detailed definitions of terms used throughout the agreement, including banking, financial and legal terminology

4. Facility Details: Specific details of the loan including amount, currency, purpose, and drawdown conditions

5. Interest and Fees: Interest rate calculations, payment schedules, and applicable fees in compliance with UAE Central Bank regulations

6. Repayment Terms: Repayment schedule, method of payment, and prepayment provisions

7. Security: Details of collateral, guarantees, or other security arrangements required for the loan

8. Representations and Warranties: Borrower's confirmations regarding their legal, financial, and operational status

9. Covenants: Positive and negative obligations of the borrower during the loan term

10. Events of Default: Circumstances constituting default and their consequences

11. Bank's Rights and Remedies: Actions the bank can take in case of default or breach

12. Governing Law and Jurisdiction: Specification of UAE law as governing law and jurisdiction of UAE courts

Optional Sections

1. Islamic Finance Provisions: Required if the loan is Sharia-compliant, detailing the Islamic structure used (e.g., Murabaha, Ijara)

2. Currency Protection: Required for loans in foreign currencies, addressing exchange rate risks and conversion provisions

3. Insurance: Required when specific insurance coverage is mandatory for the loan or collateral

4. Assignment and Transfer: Include when the bank requires rights to assign or transfer the loan

5. Syndication Provisions: Required for syndicated loans involving multiple lenders

6. Environmental Compliance: Required for project financing or when environmental risks are relevant

7. Anti-Money Laundering: Additional provisions for high-value loans or when required by UAE Central Bank regulations

8. Force Majeure: Optional provisions for unforeseen circumstances affecting loan performance

Suggested Schedules

1. Schedule 1 - Facility Terms: Detailed breakdown of loan amount, interest rates, fees, and payment schedules

2. Schedule 2 - Conditions Precedent: List of documents and conditions required before loan drawdown

3. Schedule 3 - Drawdown Notice: Form of drawdown request to be used by borrower

4. Schedule 4 - Security Documents: List and copies of all security documents

5. Schedule 5 - Repayment Schedule: Detailed amortization schedule showing all payment dates and amounts

6. Schedule 6 - Financial Covenants: Specific financial ratios and requirements to be maintained

7. Appendix A - Form of Compliance Certificate: Template for periodic compliance reporting

8. Appendix B - Security Perfection Requirements: List of actions required to perfect security under UAE law

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

alex.den.21@genieai.co

Relevant legal definitions

Clauses

Relevant Industries

Banking & Financial Services

Real Estate & Construction

Manufacturing & Industrial

Retail & Commercial

Healthcare

Technology & Telecommunications

Energy & Utilities

Transportation & Logistics

Hospitality & Tourism

Education

Professional Services

Relevant Teams

Legal

Finance

Treasury

Compliance

Risk Management

Corporate Banking

Credit

Operations

Islamic Banking

Documentation

Loan Administration

Security & Collateral

Relevant Roles

Chief Financial Officer

Finance Director

Treasury Manager

Legal Counsel

Compliance Officer

Risk Manager

Credit Manager

Relationship Manager

Corporate Banking Officer

Finance Manager

Company Secretary

Managing Director

Chief Executive Officer

Loan Officer

Credit Analyst

Islamic Banking Specialist

Documentation Specialist

Security Perfection Officer

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Let's create your Bank Loan Contract

Authors

Alex Denne

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