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Drawdown Notice

document

Basic Info

  • Applicable Region UAE
  • Available Languages
    English
    English & Arabic
  • Document No 0000127
  • Version V 1.0
  • Last Updated 07-06-2023
  • Reviews 0
Document Summary

This Drawdown Notice is a notice or request from the borrower to the lender under a loan arrangement that the borrower wishes to drawdown funds under the loan facility. The notice will include all the mechanical details in order for the loan to be made, including the date of drawdown and the account where the funds should be deposited.

Description

The drawdown request is usually given by the Lender in a standardised format, and an example of which is usually attached to the loan agreement as a schedule.

While the loan agreement makes the loan available from the Lender to the Borrower; a drawdown notice, or request establishes a clear mechanism between both parties for requesting when the loan is to be advanced.

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.