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Domestic Helper Loan Agreement Template
I need a Domestic Helper Loan Agreement Template for the UAE that includes provisions for a 24-month loan of AED 15,000 with monthly salary deductions, specifically incorporating terms for early repayment and employment termination scenarios.
1. Parties: Identification of the Lender (typically the employer) and the Borrower (the domestic helper), including full legal names, addresses, and identification details
2. Background: Context of the loan agreement, including the employment relationship and purpose of the loan
3. Definitions: Key terms used throughout the agreement, including 'Loan Amount', 'Repayment Period', 'Monthly Installment', etc.
4. Loan Details: Specific details of the loan including amount, purpose, and disbursement method
5. Repayment Terms: Structure of repayment including installment amounts, payment schedule, and method of payment
6. Salary Deduction Authorization: Authorization for the employer to deduct loan repayments from the domestic helper's monthly salary
7. Default and Remedies: Consequences of default and available remedies for the lender
8. Term and Termination: Duration of the loan agreement and circumstances for early termination
9. Governing Law and Jurisdiction: Specification of UAE law as governing law and jurisdiction for disputes
1. Security Provisions: Additional security measures such as passport deposit (if legally permitted) or post-dated checks
2. Insurance: Requirements for life or disability insurance to secure the loan
3. Early Repayment: Terms and conditions for early loan repayment
4. Change of Employment: Provisions dealing with change of employer or early termination of employment
5. Guarantor Details: Information and obligations of a guarantor, if required
6. Force Majeure: Provisions for unforeseen circumstances affecting loan repayment
1. Schedule 1 - Loan Repayment Schedule: Detailed monthly repayment schedule showing installment amounts and dates
2. Schedule 2 - Salary Deduction Details: Breakdown of monthly salary deductions and remaining take-home pay
3. Appendix A - Borrower's Employment Contract Reference: Reference to the employment contract details relevant to the loan
4. Appendix B - Required Documents: List of documents provided by the borrower (passport copy, visa, Emirates ID, etc.)
5. Appendix C - Acknowledgment Form: Form acknowledging receipt of loan amount and understanding of terms
Authors
Borrower
Business Day
Default Event
Domestic Helper
Emirates ID
Employer
Employment Contract
Final Settlement Date
Governing Law
Interest Rate
Lender
Loan
Loan Amount
Monthly Installment
Payment Date
Repayment Period
Repayment Schedule
Residence Visa
Salary
Salary Deduction
Security Deposit
Term
UAE
Work Permit
Repayment
Default
Salary Deduction
Employment Link
Security
Immigration Status
Early Termination
Force Majeure
Representations and Warranties
Rights and Obligations
Notices
Assignment
Severability
Entire Agreement
Amendments
Waiver
Governing Law
Dispute Resolution
Confidentiality
Indemnification
Termination
Private Households
Domestic Services
Employment Services
Recruitment
Financial Services
Legal Services
Immigration Services
Human Resources Services
Human Resources
Legal
Compliance
Finance
Immigration
Employment Relations
Recruitment
Visa Processing
Family Office Administration
Human Resources Manager
Legal Counsel
Employment Relations Manager
Recruitment Specialist
Immigration Specialist
Compliance Officer
Finance Manager
Household Manager
Estate Manager
Personal Assistant
Family Office Manager
Visa Processing Officer
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