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A Promissory Note To Pay Remaining Balance is a crucial financial instrument used in the United Arab Emirates when there is a need to formally document an outstanding payment obligation after partial payment has been made. This document, governed by UAE Federal Law No. 18 of 1993 (Commercial Transactions Law), creates a legally binding commitment from the maker to the payee for the remaining unpaid amount. It is commonly used in various transactions including property purchases, business deals, or large commercial purchases where full payment isn't made upfront. The note must include specific elements to be legally valid under UAE law, such as an unconditional promise to pay, the exact remaining amount, payment terms, and clear identification of all parties involved. This type of promissory note provides the creditor with a strong legal document that can be used for enforcement through UAE courts if the debtor defaults on the payment obligation.

1. Title and Date: Clear identification as a Promissory Note and date of issuance

2. Parties: Full legal names and details of the maker (promisor) and the payee (promisee)

3. Unconditional Promise: Clear statement of unconditional promise to pay a specific sum

4. Payment Amount: The precise amount payable in both numbers and words

5. Payment Date: Specific date or timeline when the payment is due

6. Place of Payment: Specified location where payment should be made

7. Governing Law: Statement that the note is governed by UAE law

8. Signature Block: Space for maker's signature, with full name and details