The Liability Assumption Agreement is a crucial document used in the United Arab Emirates when one party wishes to take over the liabilities or obligations of another party. This type of agreement is commonly utilized in corporate restructuring, merger and acquisition transactions, debt refinancing, or project finance scenarios. The document must comply with UAE Federal Law No. 5 of 1985 (Civil Code) and consider Sharia law principles, particularly regarding the transfer of obligations (Hawalah). It requires careful structuring to ensure enforceability under UAE law and often needs consideration of multiple regulatory frameworks depending on the industry sector. The agreement typically includes detailed specifications of the assumed liabilities, payment terms, conditions precedent, and any security arrangements, making it essential for complex financial transactions and corporate reorganizations in the UAE market.
Thank you! Your submission has been received!
Oops! Something went wrong while submitting the form.
Your data doesn't train Genie's AI
You keep IP ownership of your docs
1. Parties: Identification of the Original Debtor, the Assuming Party, and the Creditor (if participating in the agreement)
2. Background: Context of the existing liability and the intention to transfer it, including reference to the original obligation
3. Definitions: Definitions of key terms used throughout the agreement, including 'Assumed Liabilities', 'Effective Date', and 'Original Obligation'
4. Assumption of Liability: Core provision detailing the assumption of liability, specific obligations being assumed, and the scope of assumption
5. Consideration: Details of any payment or consideration for the assumption of liability
6. Representations and Warranties: Statements by both parties regarding their capacity, authority, and understanding of the liability assumption
7. Effective Date and Duration: When the assumption takes effect and duration of the agreement
8. Rights and Obligations: Specific rights and obligations of each party post-assumption
9. Governing Law and Jurisdiction: Confirmation of UAE law application and jurisdiction for disputes
10. Notices: Process and details for formal communications between parties
11. Execution: Signature blocks and execution requirements
1. Creditor Consent: Required when creditor's explicit consent is needed for the liability transfer
2. Security Arrangements: Details of any collateral or security provided by the assuming party
3. Step-In Rights: Procedures for stepping into contracts or obligations related to the assumed liability
4. Indemnification: Additional indemnities beyond the basic assumption of liability
5. Insurance Requirements: Specific insurance obligations related to the assumed liability
6. Conditions Precedent: Any conditions that must be met before the assumption becomes effective
7. Islamic Finance Compliance: Required when the liability assumption needs to comply with Sharia principles
1. Schedule 1 - Assumed Liabilities: Detailed description and itemization of all liabilities being assumed
2. Schedule 2 - Original Agreements: Copies or summaries of the original agreements creating the liability
3. Schedule 3 - Payment Schedule: If applicable, schedule of payments or discharge of the assumed liability
4. Schedule 4 - Related Security Documents: List and copies of any security documents related to the liability
5. Appendix A - Consent Forms: Template forms for any required third-party consents
6. Appendix B - Notice Forms: Template notices to be sent to relevant parties regarding the assumption
Find the exact document you need
Tax Indemnity Letter
A UAE law-governed document providing tax liability protection between parties, addressing corporate tax, VAT, and other tax-related obligations.
Download
Surety Indemnity Agreement
UAE law-governed agreement establishing guarantee and indemnity obligations between parties, providing security for commercial transactions under UAE jurisdiction.
Download
Deed Of Guarantee And Indemnity
A UAE legal document ensuring financial security and performance assurance through guarantee and indemnity provisions.
Download
Reciprocal Indemnity Agreement
UAE-governed agreement establishing mutual indemnification obligations between parties, defining reciprocal protections and risk allocation under UAE law.
Download
Indemnity Service Agreement
UAE-governed agreement establishing service terms and indemnification obligations between service provider and client, incorporating UAE Civil and Commercial law requirements.
Download
General Indemnity Agreement
UAE-governed legal agreement establishing indemnification obligations between parties, structured according to UAE Civil Code and Sharia principles.
Download
Deed Of Indemnity
A UAE law-governed deed establishing legally binding indemnification obligations between parties, providing protection against specified losses and liabilities.
Download
Consulting Agreement Indemnification
UAE-compliant consulting agreement with comprehensive indemnification provisions, establishing terms for professional services while managing risks and liabilities.
Download
Indemnity And Undertaking Agreement
UAE-governed agreement establishing indemnification obligations and undertakings between parties, with specific provisions for claims and enforcement under UAE law.
Download
Standard Indemnity Agreement
A UAE law-governed Standard Indemnity Agreement establishing legally binding indemnification obligations between parties, compliant with UAE Federal Laws.
Download
Personal Indemnification Agreement
A UAE-governed agreement where one party agrees to protect another against specified losses, damages, or liabilities.
Download
Indemnity Lease Agreement
UAE-governed lease agreement with integrated indemnification provisions protecting parties against specified risks and liabilities.
Download
Standard Indemnification Agreement
UAE-governed agreement establishing indemnification obligations and protection mechanisms between parties, aligned with UAE Civil Code requirements.
Download
Contribution And Indemnity Agreement
UAE-governed agreement establishing shared financial obligations and mutual indemnification arrangements between multiple parties.
Download
Liability Assumption Agreement
A UAE law-governed agreement facilitating the formal transfer of specified liabilities from one party to another, compliant with UAE Civil Code and Sharia principles.
Download
Employee Indemnification Agreement
UAE-governed agreement establishing terms for company indemnification of employees against professional liability claims and related expenses.
Download
Release Of Liability And Indemnity Agreement
A UAE law-governed agreement that combines liability release and indemnification provisions, protecting parties from future claims while establishing indemnification obligations.
Download
Hold Harmless Indemnity Agreement
UAE-compliant Hold Harmless Indemnity Agreement establishing indemnification obligations and risk allocation between parties under UAE law.
Download
Insurance Indemnification Agreement
UAE-governed agreement establishing insurance indemnification terms and conditions, compliant with UAE Federal Insurance Law.
Download
Deed Of Indemnity And Release
A UAE law-governed deed that provides indemnification protection and releases parties from specified obligations or liabilities, structured in compliance with UAE Civil Code and Sharia principles.
Download
Mutual Indemnification Agreement
A UAE law-governed agreement establishing reciprocal indemnification obligations between parties, including claim procedures and liability limitations.
Download
Release Indemnification And Hold Harmless Agreement
A UAE law-governed agreement that combines release of liability with indemnification and hold harmless obligations, providing comprehensive protection against future claims.
Download
Release And Indemnity Agreement
A UAE-governed agreement that combines a release of claims with indemnification obligations, structured according to UAE Civil Code requirements.
Download
Indemnification Contract
UAE law-governed agreement establishing indemnification obligations and risk allocation between parties, compliant with UAE Civil Code and commercial regulations.
Download
Indemnity Contract
UAE law-governed agreement establishing indemnification obligations between parties, structured under UAE Civil Code requirements.
Download
Deed Of Indemnity And Access
A UAE law-governed deed establishing indemnification obligations and access rights, typically between a company and its directors/officers, providing protection and information access rights.
Download
ұԾ’s Security Promise
Genie is the safest place to draft. Here’s how we prioritise your privacy and security.
Your documents are private:
We do not train on your data; ұԾ’s AI improves independently
All data stored on Genie is private to your organisation
Your documents are protected:
Your documents are protected by ultra-secure 256-bit encryption
We are ISO27001 certified, so your data is secure
Organizational security:
You retain IP ownership of your documents and their information
You have full control over your data and who gets to see it
.png)