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Cancellation Of Development Agreement for United Arab Emirates

Cancellation Of Development Agreement Template for United Arab Emirates

A comprehensive legal document governed by UAE law that formalizes the termination of an existing development agreement between parties involved in a real estate development project. The document addresses the mutual agreement to cancel the development arrangement, outlines financial settlements, handles property and material transfers, and ensures compliance with UAE real estate regulations, particularly RERA requirements. It includes provisions for mutual releases, confidentiality obligations, and necessary regulatory notifications, while incorporating specific UAE legal requirements for property development cancellations.

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Cancellation Of Development Agreement

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What is a Cancellation Of Development Agreement?

The Cancellation Of Development Agreement is a crucial document used when parties to a development project in the UAE mutually agree to terminate their existing development arrangement, or when termination becomes necessary due to specific circumstances. This document is essential in the UAE real estate sector, where property development projects are heavily regulated by authorities such as RERA and the Land Department. It must comply with Federal Laws and emirate-specific regulations, particularly in Dubai and Abu Dhabi. The agreement covers critical aspects including financial settlements, property handover, regulatory notifications, and mutual releases. It's particularly important given the UAE's strict requirements for property development and the need to properly document any changes in development rights and obligations.

What sections should be included in a Cancellation Of Development Agreement?

1. Parties: Identification of the Developer and Property Owner/Master Developer, including full legal names, registration details, and addresses

2. Background: Recitals detailing the original Development Agreement, its date, registration details, project description, and brief context for cancellation

3. Definitions: Key terms used in the agreement, including defined terms from the original Development Agreement that remain relevant

4. Acknowledgment of Original Agreement: Confirmation of the original Development Agreement details and current status

5. Cancellation Terms: Express terms of cancellation, effective date, and mutual agreement to terminate

6. Financial Settlement: Details of any payments, refunds, or financial adjustments between parties

7. Handover Provisions: Terms for returning the development site, materials, or completed works

8. Mutual Release: Mutual discharge of obligations and waiver of future claims

9. Confidentiality: Obligations regarding confidentiality of the cancellation terms and related information

10. Governing Law and Jurisdiction: Confirmation of UAE law application and jurisdiction for disputes

What sections are optional to include in a Cancellation Of Development Agreement?

1. Surviving Obligations: Used when certain obligations from the original agreement need to survive cancellation

2. Third Party Rights: Include when there are existing contracts with contractors, consultants, or end-users that need addressing

3. Insurance and Warranties: Required when dealing with existing insurance policies or warranties that need assignment or cancellation

4. Intellectual Property Rights: Include when there are designs, plans, or other IP that need addressing

5. Public Announcements: Needed for high-profile developments or listed companies

6. Force Majeure Events: Include if cancellation is related to force majeure circumstances

7. Dispute Resolution: Detailed dispute resolution procedures beyond standard jurisdiction clause, if required

What schedules should be included in a Cancellation Of Development Agreement?

1. Original Development Agreement: Copy or key details of the original agreement being cancelled

2. Financial Statement: Detailed breakdown of financial settlements, payments, and refunds

3. Property Details: Legal description of the development site and any completed works

4. Handover Schedule: Inventory of items, materials, or works to be handed over

5. Outstanding Obligations: List of any remaining obligations and how they will be discharged

6. Required Notices: Templates for notices required to be given to authorities (RERA, Municipality, etc.)

7. Third Party Contracts: List of affected third-party contracts and their disposition

Authors

Alex Denne

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

Publisher

Genie AI

Cost

Free to use
Relevant legal definitions




































Clauses





























Relevant Industries

Real Estate

Construction

Property Development

Infrastructure Development

Commercial Property

Residential Property

Mixed-use Development

Urban Planning

Architecture and Design

Project Management

Relevant Teams

Legal

Real Estate

Development

Construction

Project Management

Finance

Compliance

Property Management

Investment

Operations

Relevant Roles

Chief Executive Officer

Managing Director

Development Director

Real Estate Director

Project Manager

Legal Counsel

Property Manager

Construction Manager

Contract Manager

Investment Manager

Finance Director

Compliance Officer

Real Estate Partner

Development Executive

Urban Planning Director

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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