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Installment Payment Agreement Template
"I need an Installment Payment Agreement Template for my real estate company in Dubai, to be used with individual buyers who will pay in 12 monthly installments starting March 2025, with a security deposit and early payment discount option."
1. Parties: Identification of the parties entering into the agreement, including full legal names, addresses, and registration details for companies
2. Background: Context of the agreement, including the underlying transaction or debt that gave rise to the installment payment arrangement
3. Definitions: Definitions of key terms used throughout the agreement
4. Payment Terms: Detailed terms of the installment payments, including total amount, number of installments, payment frequency, and payment methods
5. Payment Schedule: Specific dates or periods when payments are due and the amount of each installment
6. Default and Remedies: Consequences of missing payments, including acceleration clauses and available remedies
7. Representations and Warranties: Statements of fact and assurances from both parties regarding their capacity and authority to enter into the agreement
8. Notices: Methods and addresses for formal communications between parties
9. Governing Law and Jurisdiction: Specification of UAE law as governing law and jurisdiction for dispute resolution
10. General Provisions: Standard contractual provisions including entire agreement, amendments, and severability
1. Security Interest: Details of any collateral or security provided to secure the payments - include when there is specific collateral
2. Guarantor Provisions: Terms relating to any third-party guarantor of the payments - include when there is a guarantor
3. Early Payment Provisions: Terms for early payment or prepayment of the installments - include when early payment is permitted
4. Insurance Requirements: Requirements for insurance on any collateral - include when there is valuable collateral
5. Assignment: Terms regarding the ability to assign rights under the agreement - include for business-to-business agreements
6. Force Majeure: Provisions for unforeseen circumstances affecting payment ability - include for long-term payment plans
7. Sharia Compliance: Specific provisions ensuring compliance with Islamic finance principles - include when parties require Sharia compliance
1. Schedule 1 - Payment Schedule: Detailed breakdown of payment dates and amounts
2. Schedule 2 - Calculation Method: Method for calculating installment amounts and any applicable fees
3. Schedule 3 - Security Details: Detailed description of any security or collateral provided
4. Schedule 4 - Contact Information: Detailed contact information for all parties and relevant representatives
5. Appendix A - Required Documents: List of documents required from the paying party (e.g., ID documents, financial statements)
6. Appendix B - Payment Instructions: Detailed banking or payment processing instructions
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Real Estate
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Finance
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Credit Control
Treasury
Risk Management
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Business Development
Accounts Receivable
Compliance
Legal Counsel
Finance Manager
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Sales Director
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Commercial Director
Treasury Manager
Risk Manager
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Chief Financial Officer
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Corporate Lawyer
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