Document background
The Conditional Sale And Purchase Agreement is a crucial document used in the United Arab Emirates for transactions where the transfer of ownership is contingent upon fulfilling specific conditions. This document type is particularly relevant in the UAE market where such conditional arrangements are common in both commercial and property transactions. It provides a comprehensive framework for managing the rights and obligations of parties during the conditional period, including detailed provisions for payment terms, condition satisfaction, and completion mechanisms. The agreement must comply with specific requirements under UAE Civil Code (Federal Law No. 5 of 1985) and Commercial Code (Federal Law No. 18 of 1993), particularly regarding the formation of conditional sales and the transfer of ownership. It is commonly used in high-value transactions where certain conditions, such as regulatory approvals, payment completion, or due diligence requirements, must be satisfied before the sale becomes final.
