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A Notice of Debt Acknowledgement (hereinafter “Notice”) is used by a debtor needing to create a signed form for a creditor, in which the debtor acknowledges that money is owed and needs to be paid back.
This Notice may also be used for a creditor that needs a standard template for one of its debtors to fill out regarding any money owed.
Here, the party entering the information will enter the names and the details of the financial situation between the two, including money owed and whether the full amount listed in the letter is with or without interest accrued.
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This Notice should be solely signed by the authorized signatory of the debtor accompanied with its official stamp and, if necessary, can be notarized. It should be noted that this Notice is subject to general contract principles established by common law. This Notice should be sent by registered mail or by another method that allows the debtor to prove that the creditor received it. |
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Jurisdiction |
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This Notice is intended for use in UAE . |
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Before Execution |
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- The information on this front page or contained in the headers and footers of this instrument are for guidance purposes only. - Please delete this front page together with the information contained in the headers, footers and the endnotes prior to circulating this letter. Where square brackets […] and highlights are used in the document, it indicates that there is missing or incomplete information which will need to be incorporated prior to signature. - Please remove the square brackets and all highlighting prior to signature. |
Disclaimer
This document is provided for reference only and is not intended to be, and should not be considered, legal advice. Determinations about whether this document will be appropriate in your particular situation or jurisdiction should be made after consultation with a legal counsel. Kanoony will not assume any legal liability that may arise from the use of this document.
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