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NOTICE OF DEBT ACKNOWLEDGEMENT

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NOTICE OF DEBT ACKNOWLEDGEMENT

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Basic Info

  • Applicable Region UAE
  • Available Languages
    English
    English & Arabic
  • Document No 0000370
  • Version V 1.0
  • Last Updated 07-06-2023
  • Reviews 0
Document Summary

A Notice of Debt Acknowledgement (hereinafter “Notice”) is used by a debtor needing to create a signed form for a creditor, in which the debtor acknowledges that money is owed and needs to be paid back.

This Notice may also be used for a creditor that needs a standard template for one of its debtors to fill out regarding any money owed.

Here, the party entering the information will enter the names and the details of the financial situation between the two, including money owed and whether the full amount listed in the letter is with or without interest accrued.

Description

This Notice should be solely signed by the authorized signatory of the debtor accompanied with its official stamp and, if necessary, can be notarized.

It should be noted that this Notice is subject to general contract principles established by common law.

This Notice should be sent by registered mail or by another method that allows the debtor to prove that the creditor received it.

Jurisdiction

This Notice is intended for use in UAE .

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.