The Short Form Assignment Agreement is designed for use in the United Arab Emirates when parties need to document the transfer of rights, assets, or property in a clear and legally compliant manner. This document is particularly useful for straightforward assignments that don't require complex terms or conditions, while ensuring compliance with UAE Federal Laws including the Civil Code (Federal Law No. 5 of 1985) and Commercial Transactions Law (Federal Law No. 18 of 1993). It's commonly used for assignments of intellectual property rights, contract rights, or other transferable assets where parties prefer a streamlined approach. The agreement includes essential provisions required under UAE law while maintaining brevity and clarity, making it suitable for both commercial and individual transactions where detailed assignment terms aren't necessary.
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1. Parties: Identification of the Assignor and Assignee with full legal names and addresses
2. Background: Brief context explaining the purpose of the assignment and the rights/assets being assigned
3. Definitions: Key terms used in the agreement, including 'Assigned Rights', 'Effective Date', and other relevant definitions
4. Assignment: Core clause transferring ownership of the rights/assets from Assignor to Assignee
5. Warranties: Basic warranties from Assignor regarding ownership, right to assign, and no encumbrances
6. Further Assurance: Obligation to execute additional documents and take necessary steps to perfect the assignment
7. Governing Law and Jurisdiction: Specification of UAE law as governing law and jurisdiction for disputes
1. Consideration: Details of payment or other consideration - include if assignment is not gratuitous
2. Confidentiality: Obligations regarding confidential information - include if sensitive information is involved
3. Tax: Tax-related provisions - include if there are significant tax implications
4. No Encumbrances: Specific confirmation of no liens or encumbrances - include for high-value assets
5. Indemnification: Indemnity provisions - include for high-risk assignments
6. Notices: formal communication procedures - include for ongoing relationships
1. Schedule 1 - Assigned Rights: Detailed description of the rights, assets, or property being assigned
2. Schedule 2 - Existing Agreements: List of relevant existing agreements affecting the assigned rights (if applicable)
3. Schedule 3 - Payment Terms: Detail of consideration and payment schedule (if applicable)
4. Appendix A - Form of Notice: Template for any required notices to third parties regarding the assignment
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