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Installment Payment Agreement

Installment Payment Agreement Generator for United Arab Emirates

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Installment Payment Agreement Template

"I need an Installment Payment Agreement Template for my real estate company in Dubai, to be used with individual buyers who will pay in 12 monthly installments starting March 2025, with a security deposit and early payment discount option."

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The Installment Payment Agreement Template is designed for use in the United Arab Emirates when parties wish to formalize arrangements for payment in installments. This document is essential in various commercial and consumer contexts, from retail financing to real estate transactions, and is structured to comply with UAE Federal Laws including the Civil Code and Commercial Code. It can be used when a buyer needs to spread payments over time, or when a seller wishes to offer flexible payment terms while maintaining legal protection. The template includes comprehensive provisions for payment schedules, security interests, default remedies, and enforcement mechanisms, all aligned with UAE legal requirements and business practices. It accommodates both conventional and Islamic finance principles, making it versatile for different business needs while ensuring enforceability within the UAE legal system.
Suggested Sections

1. Parties: Identification of the parties entering into the agreement, including full legal names, addresses, and registration details for companies

2. Background: Context of the agreement, including the underlying transaction or debt that gave rise to the installment payment arrangement

3. Definitions: Definitions of key terms used throughout the agreement

4. Payment Terms: Detailed terms of the installment payments, including total amount, number of installments, payment frequency, and payment methods

5. Payment Schedule: Specific dates or periods when payments are due and the amount of each installment

6. Default and Remedies: Consequences of missing payments, including acceleration clauses and available remedies

7. Representations and Warranties: Statements of fact and assurances from both parties regarding their capacity and authority to enter into the agreement

8. Notices: Methods and addresses for formal communications between parties

9. Governing Law and Jurisdiction: Specification of UAE law as governing law and jurisdiction for dispute resolution

10. General Provisions: Standard contractual provisions including entire agreement, amendments, and severability

Optional Sections

1. Security Interest: Details of any collateral or security provided to secure the payments - include when there is specific collateral

2. Guarantor Provisions: Terms relating to any third-party guarantor of the payments - include when there is a guarantor

3. Early Payment Provisions: Terms for early payment or prepayment of the installments - include when early payment is permitted

4. Insurance Requirements: Requirements for insurance on any collateral - include when there is valuable collateral

5. Assignment: Terms regarding the ability to assign rights under the agreement - include for business-to-business agreements

6. Force Majeure: Provisions for unforeseen circumstances affecting payment ability - include for long-term payment plans

7. Sharia Compliance: Specific provisions ensuring compliance with Islamic finance principles - include when parties require Sharia compliance

Suggested Schedules

1. Schedule 1 - Payment Schedule: Detailed breakdown of payment dates and amounts

2. Schedule 2 - Calculation Method: Method for calculating installment amounts and any applicable fees

3. Schedule 3 - Security Details: Detailed description of any security or collateral provided

4. Schedule 4 - Contact Information: Detailed contact information for all parties and relevant representatives

5. Appendix A - Required Documents: List of documents required from the paying party (e.g., ID documents, financial statements)

6. Appendix B - Payment Instructions: Detailed banking or payment processing instructions

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 Industries

Retail

Real Estate

Financial Services

Manufacturing

Automotive

Construction

Healthcare

Education

Technology

Professional Services

Relevant Teams

Legal

Finance

Sales

Credit Control

Treasury

Risk Management

Collections

Business Development

Accounts Receivable

Compliance

Relevant Roles

Legal Counsel

Finance Manager

Credit Controller

Sales Director

Contracts Manager

Commercial Director

Treasury Manager

Risk Manager

Collections Manager

Business Development Manager

Chief Financial Officer

Accounts Receivable Manager

Corporate Lawyer

Compliance Officer

Industries
UAE Federal Law No. 5 of 1985 (Civil Code): Governs contracts, obligations, and civil transactions. Contains provisions on contract formation, validity, termination, and general principles of contractual relationships.
UAE Federal Law No. 18 of 1993 (Commercial Code): Regulates commercial transactions and provides framework for business dealings, including provisions on commercial papers and payment obligations.
UAE Federal Law No. 14 of 2018 (UAE Central Bank Law): Regulates financial institutions and banking operations, including guidelines on installment payments and financial transactions.
UAE Federal Law No. 11 of 1992 (Civil Procedure Law): Provides legal framework for enforcement of contracts and dispute resolution procedures in case of default.
UAE Federal Law No. 4 of 2000 (Capital Markets Law): Relevant for security interests and financial instruments that might be used as collateral in installment agreements.
Islamic Finance Rules and Principles: Religious and legal principles incorporated into UAE law affecting interest charges and payment structures in financial 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

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