Mortgage of Movable Assets The enactment of UAE Federal Law Number 20 of 2016 Concerning Mortgaging of Movable Properties as Security for Debts (the New Law) is a milestone towards the UAE government’s initiative to bring positive changes in UAE’s mortgage law. In parallel to the recent laws on commercial…
Read moreFIDIC AND ENAA: COMPARISON Part II of II In our previous issue, we discussed FIDIC and ENAA forms which are an internationally recognized and utilized form of contracts and the general comparisons between them. Our attorneys had also detailed the requirements of data accuracy, and other conditions of companies. Although,…
Read moreFIDIC AND ENAA COMPARISION In the complex and technical world of construction and large manufacturing projects, the contracts and negotiations on the terms of an agreement between the parties are a means to keep the complex relation of parties within the bounds of clear understanding by utilizing a standard form…
Read moreFIDIC in the Middle East - The Must Knows for Industry Players The UAE industry has seldom been ignorant to internationally set standards- that in more than one ways. Originally established as an organization by three founding countries Belgium, France, and Switzerland- today FIDIC, which is an abbreviation…
Read moreWho is Liable to Pay when Circumstances for Construction Change? Construction has been one of the most dynamic industrial sectors in the Middle East due to the increase in need of palatial residential and office spaces that arise from the surfeit of expatriates that flock into the region every year.…
Read moreElectronic Registration of Cases- Advantages and Legal Issues “The Internet is becoming the town square for the global village of tomorrow.” -Bill Gates Introduction Dubai has evolved to become the marketing and commercial hub of the Middle Eastern region. A surfeit of investors, traders and tourists flock into the Emirate on a…
Read moreThe global economic meltdown had an adverse effect on the real estate industry of the Middle East. However, the Dubai real estate sector has been flourishing post its emergence from the unfavorable market environment of the global recession. The multitude of the different types of properties available has been attracting…
Read moreProject Finance as the technique of financing any development idea is rapidly increasing in developing countries due to their drive to gain industrial development and improve infrastructural amenities. The infrastructural projects or projects relating to energy industry are usually funded by the government through public funds since historical times due…
Read moreThere are across the world, different institutions of property, radically different ways of separating the land space, and developing rights in consonance with other legal, economic and social institutions. These differences get into the limelight when one pays attention to the sometimes subtle differences in policies and regulations that govern…
Read moreThe prodigious and fortuitous impact (and, speed) of the global financial crisis has left a lasting legacy on many. Questions have been raised in past as to what led to the crisis, people who were instrumental in driving the downturn and people affected by same. Speed and force without direction…
Read moreExtension of Time in Construction Contracts The construction contracts are generally prepared as per Fédération Internationale des Ingénieurs-Conseils (the FIDIC) red books 1987 and 1999, yellow book and silver book contract forms specifically in UAE to deliver projects. The legal provisions applying to such contracts are UAE Civil Code, Federal…
Read moreJoint venture is an agreement between two or more parties wherein they principally agree on developing a new asset or entity by infusing equity for a term. In a joint venture transaction, parties agree to co-operate with each other and term of the joint venture may be defined or open.…
Read moreConstruction Insight: The sight of a rainbow in the middle of a desert is a rather recherché glimpse. The United Arab Emirates, however, is not a conventional desert panorama come true. Take for example the construction industry in the region. There is an interesting mix of cultures…
Read moreAgreeing with your spouse to reimburse him or her after a shopping trip? A contract. Buying a plane ticket? A contract. Signing an offer letter from an employer who has offered you a job? A contract. A multi-page complex document laying out the terms and conditions of a high-value corporate…
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