The As Is Bill of Sale is a crucial document used in the United Arab Emirates for transactions where property is sold in its current condition without warranties. This document is particularly relevant when selling used equipment, vehicles, or other assets where the seller wishes to transfer ownership without making any guarantees about the property's condition or future performance. The document complies with UAE Federal Law No. 5 of 1985 and includes essential elements such as party details, property description, purchase price, and explicit "as is" disclaimers. It's commonly used in both commercial and private transactions, providing legal protection for sellers while ensuring buyers acknowledge they're accepting the property in its current state. The document serves as official evidence of the transfer and can be crucial for registration purposes with relevant authorities.
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1. Parties: Identification of the Seller and Buyer with full legal names and addresses
2. Background: Brief context of the sale and confirmation of ownership by the seller
3. Definitions: Key terms used in the document including 'Property', 'Effective Date', and 'As Is Condition'
4. Sale and Purchase: Clear statement of the transfer of ownership and the agreed purchase price
5. As Is Condition: Express declaration that the property is sold 'As Is' with no warranties or representations
6. Risk and Title: Statement of when risk and title pass to the buyer
7. Payment Terms: Details of the payment method and timing
8. Seller's Representations: Limited representations about ownership and authority to sell
9. Acknowledgment: Buyer's acknowledgment of accepting the property in its current condition
10. Governing Law: Specification that UAE law governs the agreement
11. Execution: Signature blocks and date of execution
1. Delivery: Include when specific delivery arrangements need to be documented
2. Inspection: Include when the buyer has conducted or will conduct a pre-purchase inspection
3. Outstanding Liens: Include when there's a need to address any existing liens or encumbrances
4. Registration: Include for vehicles or other items requiring official registration transfer
5. Third Party Consents: Include when the sale requires approval from other parties
6. Export/Import: Include when the property will be exported/imported
7. Taxes and Fees: Include when there's a need to specify responsibility for transfer taxes or fees
1. Property Description: Detailed description of the property including specifications, condition, and any known defects
2. Photographs: Visual documentation of the property's condition at time of sale
3. Historical Documents: Previous ownership documents, maintenance records, or relevant certificates
4. Inspection Report: If applicable, report detailing the current condition of the property
5. Payment Schedule: If payment is in installments, schedule of payment dates and amounts
Relevant legal definitions
Clauses
Relevant Industries
Automotive
Real Estate
Manufacturing
Retail
Industrial Equipment
Marine
Aviation
Construction
Agriculture
Technology
General Commerce
Small Business
Relevant Teams
Legal
Procurement
Sales
Operations
Administration
Risk & Compliance
Asset Management
Commercial
Finance
Property Management
Relevant Roles
Legal Counsel
Contract Manager
Business Owner
Sales Manager
Procurement Manager
Asset Manager
Property Manager
Operations Director
Commercial Manager
Risk Manager
Compliance Officer
Administrative Officer
Fleet Manager
Equipment Manager
Business Development Manager
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