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1. Parties: Identifies the lender and borrower with full legal names and addresses
2. Background: Explains the context of the loan and confirms the borrower's ownership of the vehicle
3. Definitions: Defines key terms used throughout the agreement
4. Loan Amount and Terms: Specifies the principal amount, interest rate, payment schedule, and loan duration
5. Vehicle Details and Security Interest: Describes the vehicle and establishes it as collateral for the loan
6. Representations and Warranties: Borrower's confirmations regarding vehicle ownership, condition, and authority to enter agreement
7. Borrower's Obligations: Details the borrower's responsibilities including maintenance of vehicle, insurance, and prohibited actions
8. Payment Terms: Detailed payment provisions, including method, timing, and consequences of default
9. Default and Remedies: Defines events of default and lender's rights upon default
10. Vehicle Possession and Use: Terms governing continued possession and acceptable use of vehicle during loan term
11. Insurance Requirements: Mandatory insurance coverage requirements for the vehicle
12. Termination: Conditions and process for early termination or loan satisfaction
13. Governing Law and Jurisdiction: Confirms UAE law governance and jurisdiction for disputes
1. Guarantor Provisions: Required when a third-party guarantor is involved in securing the loan
2. Additional Security: Used when additional collateral beyond the vehicle title is required
3. Cross-Default Provisions: Included when the borrower has other loans with the same lender
4. Electronic Payments Authorization: Added when automatic payments are being established
5. Vehicle Storage Provisions: Required when specific storage conditions must be maintained
6. International Use Provisions: Needed if vehicle will be used across UAE borders
7. Assignment and Transfer: Include when either party may need to transfer rights under the agreement
1. Schedule 1 - Vehicle Details: Comprehensive details of vehicle including VIN, registration, condition report, and photos
2. Schedule 2 - Payment Schedule: Detailed amortization schedule showing payment dates, amounts, and interest calculations
3. Schedule 3 - Insurance Requirements: Specific insurance coverage requirements and minimum policy terms
4. Schedule 4 - Vehicle Inspection Report: Initial condition assessment and documentation of vehicle
5. Appendix A - Required Documents: List of documents required from borrower (ID, vehicle registration, insurance, etc.)
6. Appendix B - Vehicle Title Documentation: Copies of vehicle title and registration documents
7. Appendix C - Fee Schedule: Breakdown of all applicable fees, charges, and penalties
Financial Services
Banking
Automotive
Insurance
Consumer Lending
Asset-Based Lending
Vehicle Finance
Islamic Finance
Legal
Compliance
Credit Risk
Operations
Collections
Customer Service
Underwriting
Islamic Banking
Vehicle Finance
Document Management
Risk Management
Legal Counsel
Compliance Officer
Credit Manager
Loan Officer
Risk Assessment Manager
Collections Manager
Financial Services Manager
Branch Manager
Contract Administrator
Vehicle Finance Specialist
Islamic Finance Specialist
Customer Service Representative
Operations Manager
Underwriting Manager
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