Document background
The Deed of Assignment Loan Agreement is a crucial document used in the United Arab Emirates when transferring the rights and obligations of a loan from one party to another. This document type is particularly relevant in scenarios involving loan portfolio sales, debt restructuring, or strategic realignment of lending positions. The deed must comply with UAE Federal Law No. 5 of 1985 (Civil Code) and Federal Law No. 18 of 1993 (Commercial Transactions Law), while potentially also addressing Islamic finance principles where applicable. It includes comprehensive details about the original loan, the parties involved, the terms of transfer, and any security interests being assigned. The document is commonly used by financial institutions, investment companies, and corporate entities operating in the UAE, and must be properly executed as a deed to ensure enforceability under UAE law.
