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The Simple Loan Agreement Between Friends is designed for use in the United Arab Emirates when individuals wish to formalize a personal lending arrangement. This document template ensures compliance with UAE Civil Code requirements while maintaining accessibility for non-legal users. It's particularly useful when friends or acquaintances need to document a loan arrangement in a legally sound manner, protecting both lender and borrower interests. The agreement includes essential elements required by UAE law such as clear identification of parties, loan amount, repayment terms, and consideration of Islamic law principles regarding interest. This template is suitable for various loan amounts and can be customized based on specific requirements while maintaining its fundamental simple structure. The document helps prevent future disputes by clearly documenting the terms agreed upon by both parties.

1. Parties: Identification of the lender and borrower with full legal names and addresses

2. Background: Brief context of the loan arrangement between the friends

3. Definitions: Key terms used in the agreement including 'Loan Amount', 'Interest Rate' (if applicable), 'Repayment Date'

4. Loan Details: Specification of the loan amount, purpose, and disbursement method

5. Repayment Terms: Details of how and when the loan will be repaid, including payment schedule

6. Interest: Statement regarding interest (or explicit statement if interest-free, considering UAE and Islamic law principles)

7. Representations and Warranties: Basic statements about the borrower's ability to repay and understanding of the obligation

8. Events of Default: Circumstances that constitute default and consequences

9. Governing Law and Jurisdiction: Confirmation that UAE law governs the agreement

10. Signatures: Execution section for both parties with date