All Countries
Banking
Consumer Credit Contract

Consumer Credit Contract Template for United Arab Emirates

Create a bespoke document in minutes,  or upload and review your own.

4.6 / 5
4.8 / 5

Let's create your Consumer Credit Contract

Thank you! Your submission has been received!
Oops! Something went wrong while submitting the form.

Get your first 2 documents free

Your data doesn't train Genie's AI

You keep IP ownership of your information

Key Requirements PROMPT example:

Consumer Credit Contract

"I need a Consumer Credit Contract for a UAE-based retail bank offering personal loans up to AED 250,000, with a focus on including digital banking provisions and online payment systems, to be implemented by March 2025."

Celebrated by
Collaborations with
Investors
Document background
The Consumer Credit Contract serves as a standardized agreement for financial institutions operating in the UAE to extend credit to individual consumers. This document is essential for any consumer lending activity and must comply with UAE Federal Law No. 15 of 2020 on Consumer Protection and UAE Central Bank regulations regarding consumer finance. The agreement is designed for use in various consumer credit scenarios, from personal loans to retail financing, and includes mandatory provisions for consumer protection, clear disclosure of terms and conditions, interest rate calculations, and borrower rights. It incorporates recent regulatory requirements, including those related to fees and charges caps, early settlement provisions, and mandatory disclosure requirements set by the UAE Central Bank.
Suggested Sections

1. Parties: Identification of the credit provider and the consumer, including full legal names and relevant details as required by UAE law

2. Background: Context of the credit agreement and purpose of the loan

3. Definitions: Clear definitions of key terms used in the agreement, as required by UAE consumer protection laws

4. Credit Amount and Purpose: Specification of the credit amount, purpose, and any conditions for drawdown

5. Interest Rate and Charges: Detailed breakdown of interest rates, calculation method, and all applicable fees as per UAE Central Bank regulations

6. Repayment Terms: Payment schedule, installment amounts, and payment methods

7. Security and Guarantees: Details of any security or guarantees required for the credit

8. Consumer Rights: Statement of consumer rights under UAE law, including cooling-off period and early repayment rights

9. Events of Default: Clear definition of default events and consequences

10. Termination: Conditions and process for termination of the agreement

11. Governing Law and Jurisdiction: Specification of UAE law as governing law and jurisdiction for disputes

Optional Sections

1. Insurance Requirements: Details of mandatory or optional insurance coverage, used when insurance is required or offered

2. Islamic Finance Provisions: Specific provisions for Sharia-compliant financing, used when the credit is provided under Islamic banking principles

3. Special Drawdown Conditions: Additional conditions for credit drawdown, used for complex credit facilities or specific purpose loans

4. Third-Party Rights: Provisions regarding third-party rights or guarantors, used when additional parties are involved

5. Electronic Communications: Terms for electronic notifications and communications, used when digital services are provided

Suggested Schedules

1. Schedule 1 - Payment Schedule: Detailed amortization schedule showing payment dates, amounts, and breakdown of principal and interest

2. Schedule 2 - Fees and Charges: Comprehensive list of all applicable fees and charges as required by UAE Central Bank regulations

3. Schedule 3 - Terms and Conditions: Detailed terms and conditions including consumer rights and obligations

4. Schedule 4 - Required Documents: List of documents required from the consumer for credit approval and disbursement

5. Appendix A - Key Facts Statement: Summary of key financial and legal terms as required by UAE Central Bank regulations

6. Appendix B - Consumer Rights Statement: Detailed statement of consumer rights and protections 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

Linkedin in social icon imageX social icon image
alex.den.21@genieai.co
Relevant legal definitions
Account
Agreement
Annual Percentage Rate
Applicable Law
Application
Business Day
Central Bank
Charges
Consumer
Credit Amount
Credit Facility
Default Interest
Disbursement Date
Due Date
Early Settlement
Emirates ID
Event of Default
Facility Term
Financial Institution
Governing Law
Interest Rate
Late Payment Fee
Loan Purpose
Material Adverse Effect
Maturity Date
Outstanding Balance
Payment Schedule
Processing Fee
Repayment Account
Repayment Date
Sanctioning Authority
Security
Statement
UAE Dirham
Working Day
Relevant Industries

Banking & Financial Services

Retail Banking

Consumer Finance

Islamic Banking

Financial Technology

Retail

Automotive Finance

Real Estate (for home financing)

Insurance

Relevant Teams

Legal

Compliance

Retail Banking

Risk Management

Consumer Banking

Operations

Customer Service

Product Development

Credit Administration

Documentation

Consumer Protection

Quality Assurance

Relevant Roles

Credit Officer

Retail Banking Manager

Compliance Officer

Legal Counsel

Consumer Banking Officer

Risk Manager

Branch Manager

Customer Service Representative

Product Manager - Consumer Banking

Financial Services Consultant

Relationship Manager

Credit Risk Analyst

Operations Manager

Documentation Specialist

Consumer Protection Officer

Industries
UAE Federal Law No. 15 of 2020: Consumer Protection Law - Provides the fundamental framework for consumer rights and protection in the UAE, including transparency in contracts and fair dealing requirements
UAE Federal Decree Law No. 14 of 2018: Regarding the Central Bank & Organization of Financial Institutions and Activities - Sets out the regulatory framework for banking activities including consumer credit
UAE Federal Law No. 5 of 1985: Civil Code - Contains general principles of contract law that apply to credit agreements including formation, validity, and termination of contracts
UAE Federal Law No. 18 of 1993: Commercial Transactions Law - Governs commercial and financial transactions including aspects of lending and credit facilities
Central Bank Notice No. 84/2019: Regulations regarding bank loans and other services offered to individual customers, including maximum limits on fees and charges
Cabinet Decision No. 40 of 2019: Consumer Protection Regulation regarding consumer credit and banking services, including disclosure requirements and consumer rights
UAE Central Bank Circular No. 8/2020: Regulations on loan deferrals and banking fees during exceptional circumstances, which may affect credit agreements
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

Find the exact document you need

Standby Letter Of Credit Agreement

A UAE-governed agreement establishing terms for issuing and maintaining a standby letter of credit, incorporating UAE Federal Laws and international banking practices.

find out more

Home Credit Contract

UAE-governed agreement for residential property financing that establishes credit terms and security arrangements in compliance with UAE banking and property laws.

find out more

Line Of Credit Contract

UAE-governed financing agreement establishing a revolving credit facility between a lender and borrower, detailing facility terms and conditions under UAE Federal laws.

find out more

Credit Payment Agreement Letter

A UAE-compliant formal letter establishing credit payment terms and conditions between parties, governed by UAE Federal Laws and banking regulations.

find out more

Simple Money Lending Agreement

UAE-governed lending agreement establishing terms and conditions for a loan transaction, compliant with local laws and Sharia principles.

find out more

Money Lending Agreement

UAE-governed agreement establishing terms and conditions for lending transactions, compliant with UAE federal laws and Central Bank regulations.

find out more

Company Credit Card Agreement

UAE-governed agreement establishing terms for corporate credit card issuance and usage between a financial institution and company.

find out more

Cash Credit Agreement

UAE-governed agreement establishing terms for cash credit facility provision between a financial institution and borrower, compliant with UAE banking regulations.

find out more

Personal Credit Agreement

UAE-governed agreement establishing terms for personal credit between a financial institution and individual borrower, compliant with UAE banking and consumer protection regulations.

find out more

Promissory Note Credit Agreement

A UAE law-governed document combining a credit agreement and promissory note, establishing credit facility terms and an unconditional promise to pay.

find out more

General Credit Agreement

UAE-governed agreement establishing terms and conditions for credit facilities between lender and borrower, compliant with UAE banking regulations and local legal requirements.

find out more

Voluntary Credit Agreement

UAE-governed agreement establishing voluntary credit terms between lender and borrower, compliant with UAE Federal Laws and Sharia principles.

find out more

30 Day Credit Agreement

UAE-compliant 30-day credit agreement template for commercial transactions, incorporating local legal requirements and business practices.

find out more

Credit Term Agreement

UAE-governed agreement establishing credit facility terms between lender and borrower, including payment terms, security, and regulatory compliance requirements.

find out more

Credit Default Swap Agreement

UAE-law governed Credit Default Swap Agreement template compliant with UAE Central Bank regulations and applicable for both conventional and Islamic finance structures.

find out more

Letter Of Credit Contract

A UAE-governed banking instrument that establishes terms and conditions for letter of credit issuance and payment in international trade transactions, compliant with UAE banking laws and international standards.

find out more

Credit Note Agreement

UAE-governed agreement establishing terms and conditions for credit note issuance and settlement, compliant with UAE VAT and commercial laws.

find out more

Credit Application Agreement

UAE-governed agreement establishing terms and conditions for credit facilities between financial institutions and applicants, compliant with UAE Central Bank regulations.

find out more

Revolving Line Of Credit Agreement

UAE-governed agreement establishing a revolving credit facility with flexible drawdown and repayment terms, compliant with UAE banking regulations and optional Sharia principles.

find out more

Consumer Credit Contract

UAE-compliant consumer credit agreement establishing terms for personal lending, incorporating UAE Central Bank regulations and consumer protection provisions.

find out more

Letter Of Credit Agreement

A UAE law-governed agreement establishing terms and conditions for issuing and managing letters of credit, combining local regulations with international banking standards.

find out more

Consumer Credit Agreement

UAE-governed agreement between a financial institution and consumer for the provision of credit facilities, compliant with UAE Central Bank regulations and consumer protection laws.

find out more

Funds Transfer Agreement

UAE-governed agreement establishing terms for funds transfers between financial institutions and customers, compliant with UAE banking and financial regulations.

find out more

Line Of Credit Agreement

UAE-governed agreement establishing a revolving credit facility between a lender and borrower, detailing terms for drawdown, repayment, and re-borrowing of funds.

find out more

Revolving Credit Agreement

UAE law-governed agreement establishing a revolving credit facility between a lender and borrower, enabling multiple drawdowns and repayments up to an agreed limit.

find out more

Credit Assignment Agreement

A UAE law-governed agreement that transfers credit rights from an Assignor to an Assignee, compliant with UAE Civil and Commercial laws and applicable Sharia principles.

find out more

Download our whitepaper on the future of AI in Legal

By providing your email address you are consenting to our Privacy Notice.
Thank you for downloading our whitepaper. This should arrive in your inbox shortly. In the meantime, why not jump straight to a section that interests you here: https://www.genieai.co/our-research
Oops! Something went wrong while submitting the form.

Genie’s Security Promise

Genie is the safest place to draft. Here’s how we prioritise your privacy and security.

Your documents are private:

We do not train on your data; Genie’s AI improves independently

All data stored on Genie is private to your organisation

Your documents are protected:

Your documents are protected by ultra-secure 256-bit encryption

Our bank-grade security infrastructure undergoes regular external audits

We are ISO27001 certified, so your data is secure

Organizational security

You retain IP ownership of your documents

You have full control over your data and who gets to see it

Innovation in privacy:

Genie partnered with the Computational Privacy Department at Imperial College London

Together, we ran a £1 million research project on privacy and anonymity in legal contracts

Want to know more?

Visit our Trust Centre for more details and real-time security updates.

Read our Privacy Policy.