DEED OF RELEASE OF DEBT

Document Summary

A Deed of Release of Debt is given to a borrower by the lender in the event where there is a certain amount that is still outstanding under a loan agreement, but the lender has decided to waive such outstanding amount.

Description

This generally means that the borrower has been released from paying the lender back the outstanding amount of money and any related accumulated interest, if applicable. This document creates a written record of the release, which the borrower can keep on file and can use asevidence that the loan has actually been fully satisfied.

Jurisdiction

This document is intended for use in the United Arab Emirates.

Disclaimer

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.

Before Execution

• The information on this front page or contained in the headers and footers of this instrument are for guidance purposes only.
• Please delete this front page together with the information contained in the headers, footers, and the endnotes prior to circulating this letter. Where square brackets […] and highlights are used in the document, it indicates that there is missing or incomplete information which will need to be incorporated prior to signature.
• Please remove the square brackets and all highlighting prior to signature.