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Preliminary Purchase Agreement for United Arab Emirates

Preliminary Purchase Agreement Template for United Arab Emirates

A UAE-governed Preliminary Purchase Agreement serves as a binding preliminary contract that outlines the key terms and conditions for a proposed purchase transaction. Governed by UAE Federal Law and relevant Emirate-specific regulations, this document establishes the framework for the final purchase, including essential elements such as property/asset description, purchase price, payment terms, due diligence requirements, and conditions precedent. It provides legal protection for both parties during the preliminary phase while setting clear expectations and timelines for proceeding to the final purchase agreement.

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What is a Preliminary Purchase Agreement?

The Preliminary Purchase Agreement is a crucial document in UAE business and property transactions, used when parties have reached initial agreement on key terms but require a formal framework before proceeding to a final purchase agreement. This document, governed by UAE Federal Law No. 5 of 1985 (Civil Code) and relevant Emirate-specific property laws, typically includes essential details such as party information, property/asset description, purchase price, payment terms, due diligence requirements, and conditions precedent. It serves to protect both parties' interests during the preliminary phase while establishing clear obligations and timelines. The agreement is particularly important in the UAE context where property and commercial transactions often involve complex regulatory requirements and multiple stakeholders.

What sections should be included in a Preliminary Purchase Agreement?

1. Parties: Identification and details of the seller and purchaser, including full legal names, addresses, and registration details if companies

2. Background: Context of the transaction, including brief description of the property/asset and parties' intentions

3. Definitions: Key terms used throughout the agreement, including Property, Purchase Price, Deposit, and Completion Date

4. Subject Matter: Detailed description of the property/asset being purchased and any inclusions/exclusions

5. Purchase Price and Payment Terms: Agreed purchase price, deposit amount, payment schedule, and payment methods

6. Due Diligence: Terms and timeframe for conducting due diligence investigations

7. Conditions Precedent: Conditions that must be satisfied before proceeding to final purchase agreement

8. Timeline and Key Dates: Schedule for key milestones including due diligence period, final agreement signing, and completion

9. Deposit Provisions: Terms regarding the deposit, including amount, timing, and conditions for refund or forfeiture

10. Representations and Warranties: Basic representations by both parties regarding authority to enter agreement and property status

11. Termination Rights: Circumstances under which either party may terminate the preliminary agreement

12. Governing Law and Jurisdiction: Confirmation of UAE law application and relevant court jurisdiction

13. Notices: Process and contact details for formal communications between parties

What sections are optional to include in a Preliminary Purchase Agreement?

1. Broker/Agent Provisions: Include when real estate agents or brokers are involved in the transaction

2. Financing Contingency: Include when purchase is contingent on buyer obtaining financing

3. Property Management During Interim Period: Include for operating businesses or properties requiring active management

4. Confidentiality: Include when transaction involves sensitive commercial information

5. Exclusivity Period: Include when seller agrees not to negotiate with other potential buyers

6. Force Majeure: Include when extended timelines are involved or in complex transactions

7. Language Provisions: Include when agreement is drafted in multiple languages

8. VAT and Tax Provisions: Include when transaction may have specific tax implications

What schedules should be included in a Preliminary Purchase Agreement?

1. Property Description Schedule: Detailed description of property including boundaries, features, and included items

2. Due Diligence Requirements: Specific list of documents and information to be provided for due diligence

3. Payment Schedule: Detailed breakdown of payment terms, amounts, and dates

4. Required Approvals: List of necessary governmental or regulatory approvals

5. Form of Final Purchase Agreement: Draft or key terms of the intended final purchase agreement

6. Property Documents: List of title documents, permits, and certificates to be provided

7. Disclosure Schedule: Known issues, encumbrances, or material facts about the property

Authors

Alex Denne

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

Publisher

Ƶ

Document Type

Sales Agreement

Sector

Sales

Cost

Free to use
Relevant legal definitions




































Clauses

































Relevant Industries

Real Estate

Commercial Property

Residential Property

Industrial

Retail

Hospitality

Manufacturing

Technology

Professional Services

Construction

Agriculture

Healthcare

Relevant Teams

Legal

Real Estate

Property Management

Finance

Commercial

Business Development

Procurement

Risk Management

Compliance

Operations

Investment

Relevant Roles

Chief Executive Officer

Chief Financial Officer

Managing Director

Real Estate Manager

Property Developer

Legal Counsel

Commercial Director

Business Development Manager

Investment Manager

Procurement Manager

Contract Manager

Real Estate Agent

Property Manager

Risk Manager

Compliance Officer

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,  Leaves of Absence, Confidentiality, Intellectual Property, Non-Solicitation, Non-Competition, Code of Conduct, Termination,  Severance Pay, Governing Law, Entire Agreemen

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