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Promissory Note With Notary for United Arab Emirates

Promissory Note With Notary Template for United Arab Emirates

A Promissory Note with Notary is a formal financial instrument used in the United Arab Emirates, governed by UAE Federal Law No. 18 of 1993 (Commercial Transactions Law) and authenticated by a licensed UAE Notary Public. This document represents a written, unconditional promise by one party (the maker) to pay a specific sum of money to another party (the payee) at a predetermined date or on demand. The notarization adds an extra layer of security and authenticity to the document, making it more readily enforceable in UAE courts and providing stronger evidence of the debt obligation.

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Promissory Note With Notary

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What is a Promissory Note With Notary?

The Promissory Note With Notary is a crucial financial instrument in the United Arab Emirates business environment, commonly used in various commercial and personal transactions where a formal promise of payment is required. This document is particularly valuable when substantial sums are involved or when parties seek additional security in their financial arrangements. It must comply with UAE Federal Law No. 18 of 1993 (Commercial Transactions Law) and be authenticated by a UAE Notary Public, which significantly enhances its legal weight and enforceability. The document includes essential details such as the payment amount, payment terms, parties' information, and specific conditions, making it a valuable tool for debt documentation, business transactions, and financial planning. The notarization process validates the identities of the parties involved and confirms the document's authenticity, providing an additional layer of security compared to standard promissory notes.

What sections should be included in a Promissory Note With Notary?

1. Promissory Note Declaration: Clear statement that this is a promissory note (the word 'promissory note' must be included in the body of the text in Arabic and English)

2. Maker Information: Full legal name, Emirates ID number, and address of the person making the promise to pay

3. Payee Information: Full legal name and details of the person to whom or to whose order the payment is to be made

4. Amount: The sum promised to be paid, expressed in both numbers and words, in the relevant currency

5. Payment Terms: Unconditional promise to pay, including the specific date or time of payment

6. Place of Payment: The location where the payment is to be made

7. Date and Place of Issuance: When and where the promissory note is issued

8. Maker's Signature: Space for the maker's signature and official stamp if applicable

9. Notary Declaration: Official notary statement confirming the authentication of the document

What sections are optional to include in a Promissory Note With Notary?

1. Interest Rate Declaration: If applicable, details of any interest payable on the principal amount

2. Guarantor Information: If there is a guarantor, their full details and commitment statement

3. Cross Reference: Reference to any related agreements or contracts, if the promissory note is issued as part of a larger transaction

4. Acceleration Clause: Terms under which the full amount becomes immediately due and payable

5. Witness Details: Information and signatures of witnesses, if additional verification is desired beyond notarization

What schedules should be included in a Promissory Note With Notary?

1. Payment Schedule: If payments are to be made in installments, a detailed schedule of payment dates and amounts

2. Supporting Documents: Copies of relevant identification documents of the maker and payee

3. Security Documents: If the note is secured, details and copies of the security arrangements

4. Power of Attorney: If applicable, documentation authorizing someone to act on behalf of the maker or payee

Authors

Alex Denne

Head of Growth (Open Source Law) @ tiktok成人版 | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

Document Type

Promissory Note

Sector

Banking

Cost

Free to use
Relevant legal definitions
























Clauses




















Relevant Industries

Banking and Financial Services

Real Estate

Construction

Manufacturing

Trading and Commerce

Professional Services

Healthcare

Education

Retail

Hospitality

Technology

Transportation and Logistics

Relevant Teams

Legal

Finance

Treasury

Credit Control

Compliance

Risk Management

Accounts Receivable

Corporate Finance

Commercial Operations

Executive Management

Relevant Roles

Chief Financial Officer

Finance Director

Treasury Manager

Credit Manager

Financial Controller

Legal Counsel

Compliance Officer

Risk Manager

Accounts Receivable Manager

Collections Manager

Business Development Manager

Corporate Finance Manager

Managing Director

CEO

Commercial Director

Contract Manager

Financial Analyst

Credit Analyst

Industries





Teams

Employer, Employee, Start Date, Job Title, Department, Location, Probationary Period, Notice Period, Salary, Overtime, Vacation Pay, Statutory Holidays, Benefits, Bonus, Expenses, Working Hours, Rest Breaks, 聽Leaves of Absence, Confidentiality, Intellectual Property, Non-Solicitation, Non-Competition, Code of Conduct, Termination, 聽Severance Pay, Governing Law, Entire Agreemen

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