Debt acknowledgment in the UAE
A debt acknowledgment is a written declaration by the debtor that a specified sum is owed to the creditor. We prepare the acknowledgment and coordinate its certification.
Legal basis
The Law of Evidence in Civil and Commercial Transactions, issued by Federal Decree-Law No. 35 of 2022, defines an acknowledgment as a person’s statement of a right owed by him to another, and requires the person making it to have the capacity to dispose of what he acknowledges.
What the acknowledgment records
- The debtor and the creditor, with their identification details.
- The amount and currency of the debt.
- The due date, or the repayment schedule and method.
Certification
Under Dubai Courts’ declarations service, the notary public attests the signatures of the parties after verifying their identity, their capacity and their understanding of the document. The parties attend in person or through a representative.
What we need to prepare the acknowledgment
- Emirates ID or passport of the debtor and of the creditor.
- The amount and currency of the debt.
- The due date, or the repayment schedule and method.
- The origin of the debt, where it is to be stated.
Steps
- Send the details over WhatsApp or email.
- We prepare the acknowledgment in the appropriate format for attestation based on the transaction details.
- You review and approve the draft.
- The parties sign and the notary public attests the signatures.
Contact
WhatsApp: +971 56 161 6635
Email: info@poainminutes.ae