A Deed of Novation involves the transfer of rights and obligations of a party under an existing contract to a third party.
This deed is intended for the transfer of a loan from the transferor to the transferee.
The document also includes a Form of Payment Letter by which the transferor requests the payment amount after the transfer of its rights and obligations to the transferee.
This Agreement contains the following sections:
Schedule 1 – Form of Payment Letter
This document is intended for use in the Emirate of Dubai.
This document is provided for reference only and is not intended to be, and should not be considered, legal advice. Determinations about whether this document will be appropriate in your particular situation or jurisdiction should be made after consultation with a legal counsel. Kanoony will not assume any legal liability that may arise from the use of this document.