Debt Collection In Dubai

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Thursday 29 August 2024

The Role of Corporate Lawyers in Dubai

Dubai, an international hub for business, commerce and innovation and it has become a role model for rest of the world too. Dubai has established a reputation as a leading destination in world, for businesses. Global businesses are opening their companies or branch offices here.  Businesses who are looking to expand their business operations, are interested to keep one office in Dubai. Due to its strategic location, the world-class infrastructure of Dubai, favorable and protected environment, and security of assets provide a confidence to business to operate from Dubai. Dubai is a hub for business in the world and it promotes the corporate environment in world too. 

Corporate Law in Dubai

Corporate law in Dubai has a wide scope and you can’t discuss it easily. A broad range, wider scope and large implications. The legal issues related to operation, and the governance of corporate companies. It does include the matters, for example company formation, and others like:  
Mergers
Acquisitions 
Joint Ventures 
Corporate Governance, 
Intellectual Property 
The legal Structure in Dubai is absolutely unique, with the blending of traditional corporate principles and modern business practices. 
The law here is governed by: 
UAE Federal Law No. 2 of 2015 
Commercial Companies (Companies Law) 

It applies across all emirates, including Dubai. Additionally, within Dubai's free zones, e.g. DIFC. This complicated legal environment always needs corporate lawyers and the emirate of Dubai also offers you top business lawyers in Dubai too. Top lawyers in UAE are mostly found in Emirates of Dubai as lawyers in Dubai. They are also called as top lawyers in UAE or top lawyers in Dubai. 

The Role of Corporate Lawyers: Business Establishment 

The major and primary role of these corporate lawyers, is to deliver legal support to setup businesses. These businesses can be LLC, Free Zone, and LLC but free from local sponsor, etc. You can check with our lawyers under the banner of Ask The Law Dubai Lawyers. Every lawyer in Dubai at our prestigious law firm, which is among best practicing law firms in Dubai, is having super professional legal background. Those businesses which are looking to establish presence in Emirate, can hire our top lawyers. We also offer debt collection services in Dubai and all over the UAE too. 

Service: Mergers, Acquisitions, etc 

Mergers, acquisitions are also offered by these corporate lawyers in Dubai. Mergers and Acquisitions, are associated with the ensuring that the transaction are structured in legal ways. Corporate lawyers in Dubai are helpful while dealing with mergers and acquisitions too. Joint ventures us also the part of this legal assistance program by these professional corporate lawyers in Dubai.  

Protection of Intellectual Property 

Protecting intellectual property (IP) is quite important topic, especially among competitive markets. IP is important topic and needs much attention in Dubai, UAE. Corporate lawyers are badly needed for IP management in Dubai and all over the country too. But this is very much challenging task. 

Dispute Resolution 

Representing the businesses in dispute resolution, is also one of the important responsibilities of corporate lawyers. 

Wednesday 26 June 2024

Debt Recovery Dubai Laws

 The United Arab Emirates (UAE) is known for its business sector. A lot of commercial activities are happening at national and international levels. Business owners are happy to do business transactions unless they see a pile of unpaid invoices in their records. Those unpaid invoices are known as debt because the debtor has not paid the invoice yet. However, some debts are negative and some are positive. Therefore, the business owners worry about negative debt only because that is also known as disputed debt. This involves bounced cheques, missing commitment in payment and failing to repay the loans on agreed time. The debt collection legislation is different from other financial rules in the UAE. People want to maintain good relations with the debtor for future businesses. Hence, they do not want to get into an argument but try to recover the debt amicably. Therefore, businesses hire debt recovery agents to navigate the complexities of debt collection. 


UAE Debt Collection Process

In the UAE, conventional debt collection in the courts has been negated by the new business owners and debt collectors. The latest debt collection technique is to settle the matter out of court. It is a time-saving and economical situation where both parties can sit together and agree on the terms. However, the debt collectors will be providing their services to the creditor and contact the debtor on behalf of their clients. 

Why Invite Debt Collectors?

The lender has no motive against the debtor, such as tarnishing their reputation. Therefore, they hire professional debt recovery Dubai agents who can professionally recover the debt. The creditor company wants to keep it legal and fair and wants to resolve the matter quickly. Hence, they have found out-of-court debt collection an effective technique in their business.

How Should the Debt Collection Process Begin?

The debt collection services should be provided once the debt is claimed by the creditor. It requires to have a proof against the debtor. Sometimes, the communication between debt recovery Dubai agents and the debtor becomes bitter and retaliates the situation. Therefore, one must hire debt a professional and experienced debt collector. The creditor company must provide evidence against debt collection to begin with the process.

To avoid debt collection in the future, the company must make strict credit policies. 


Monday 1 May 2023

Debt collection

 

Debt Collection is the process of recovering outstanding debts owed by individuals or businesses who have failed to pay their debts as per the agreed payment terms. In the UAE, the process of debt collection is regulated by various laws and regulations. 

They are designed to protect and safeguard the rights and obligations of both creditors and debtors.

The debt collection process in the UAE involves several stages, starting from issuing reminders to the debtor to filing a case in court, obtaining a judgment, and seeking enforcement.

Debt collection agencies are often used by creditors to recover their debts, and these agencies are regulated by the UAE government to ensure they operate in compliance with the law.

The UAE has several laws and regulations that govern the collection of debt in the country. 

The most significant laws include the UAE Commercial Transactions Law (CTL), the UAE Civil Code, and the UAE Federal Law No. 18 of 1993 (Commercial Transactions Law). These laws provide the legal framework for debt collection, including the rights and obligations of creditors and debtors.

The CTL specifies that a creditor must first issue a written notice to the debtor requesting payment of the outstanding debt. The notice must provide clear details of the debt, including the amount owed, the payment terms, and the consequences of failing to pay. If the debtor fails to respond to the written notice, the creditor may proceed to file a case in court.



The UAE Civil Code further regulates the process of debt collection, including the rights and obligations of both creditors and debtors. For instance, the code specifies that the debtor may not be subjected to any physical or psychological harm during the debt collection process. 

The code also outlines the legal consequences of failing to pay a debt, which may include the seizure of assets, garnishment of wages, or even imprisonment.

In the UAE, debt collection agencies are regulated by the Department of Economic Development (DED). The DED is responsible for ensuring that these agencies operate in compliance with the law and do not engage in any unlawful or unethical practices.

Debt collection agencies in the UAE must obtain a license from the DED to operate legally. The licensing process involves a thorough background check of the agency's owners and employees, as well as verification of their financial status and other details.

The UAE government has also established the Credit Bureau, which is a central repository of credit information about individuals and businesses in the country. The Credit Bureau provides credit reports to creditors, which can be used to assess the creditworthiness of potential borrowers and determine their ability to repay debts.

Debt collection is an essential process for creditors seeking to recover outstanding debts in the UAE. The process is regulated by various laws and regulations to ensure that both creditors and debtors are protected. 

Debt collection agencies are widely used in the UAE to assist creditors with the debt collection process, and these agencies are regulated by the government to ensure compliance with the law. 

The UAE government has established various measures, including the Credit Bureau, to enhance the transparency and efficiency of the debt collection process in the country.


Monday 16 January 2023

Business Lawyers In Dubai

 If you are looking for qualified business lawyers in Dubai, you need to consider a few important factors before making your decision. First and foremost, it’s important to find a lawyer who is knowledgeable about the laws and regulations in Dubai as well as your specific business goals and objectives. A good business lawyer should have extensive experience representing clients in similar types of cases, so be sure to ask for references from past clients. Additionally, make sure you choose someone who understands the complexities of the legal landscape in Dubai when it comes to corporate transactions and dispute resolution. 



When vetting possible candidates, ask them questions about their qualifications and experience with commercial law-related issues such as contract disputes, intellectual property rights protection, mergers & acquisitions or contract negotiation & drafting. Additionally, be sure they offer services such as setting up entities/companies within mainland or free zones; providing advice on offshore company formation; advising on trademark application procedures; assisting with labor-related matters; providing advice on licensing requirements; preparing tax returns, or reviewing financial statements for accuracy. 

Finally, select a business lawyers that offers flexible fee structures that are tailored to your individual situation or budget constraints - including fixed fees per project work or retainer arrangements - so you can get legal services when needed without breaking the bank!



Friday 27 September 2019

Questions Asked by Client from a Lawyer


Questions Asked by Client from a Lawyer

Searching for a good lawyer is one of the tiring tasks. The main issue is that a layman does not know about the legal market, and he finds every legal service the same as the other.
Many lawyers in dubai are indeed offering the same services, but they have different pricing methods.
Therefore, do good research about lawyers and then begin with the shortlisted ones. When you have
narrowed down the lawyers in your list, then you must make appointments with them.
Afterward, understand your case well and note down the questions that you would want to ask from the lawyer on the day of the meeting. You will have many questions in your mind, but there are three main questions that you should always ask from the lawyer. The experience of a lawyer plays a vital role in his life and for the client. Having a law degree is not the only thing that a lawyer should have. He should have relevant experience in cases similar to yours. When you meet a lawyer, you should simply ask him about his credentials and experience. A professional lawyer will present you every detail with confidence, whereas non-professionals will hesitate to give you those details.




The Second Question:
The second question that you should ask a lawyer is the fee structure. Many Dubai Lawyers provide flexible payment methods. You can talk to them about the financial situation and ask them to ease the payment for you. Some lawyers would do that because the client has an interesting case. A lawyer and the client should be on the same page of the case, so that the client may ask the lawyer about his approach on the day of a court trial. If the lawyer and the client are not working closely, there might be a conflict of management and the client may lose the winning case. After asking these questions, you must evaluate the lawyer and see if he can take up your case. The confidence of the lawyer also matters and so, you should find someone with good communication skills.




Legal Knowledge:
>
What is the Termination if not based on Law? It is UN-Lawful which allows 3 Months Compensation.
> Women on maternity leave, can not be terminated as well.
> Employees can not be terminated when on annual leave/sick leave.
> If Employee has had received the Pension then he can not take the End of Service.
> Article 120 is mostly used to fire the employees.
> 45 Days Salary can be compensation on the Employee if he leaves the job on limited contract.
> Legal Notice is a good source to resolve the matter amicably.
> Cases between two Companies are called as Commercial Cases.
> For Bounce Cheque Criminal and Civil both cases can be filed.

Note:
Better to Consult Emirati Lawyers and Legal Consultants to getting latest knowledge
if you want to take a legal action. Better to search best Law Firms in Dubai which will help
out you to find out the best lawyers.




Criminal and Civil Cases:
When a Cheque get bounced, then we can file two Cases Criminal and Civil. Keep in mind
the Case can only provide punishment to accused person. Lawyers & Dubai Legal Consultants
can perform, both jobs. Criminal Case judgement can put travel ban, can put the accused
person behind the Bars etc. Civil Case Judgement can bring the disputed amount back,
legal interest of court directed amount, legal expense, etc
Therefore experts recommend to file both cases Criminal and Civil together.





Wednesday 18 September 2019

Situations in which Debt Collection Happen

People who are not called by the debt collectors should feel blessed. Nowadays, the debt collection agencies are working for many businesses, who waited for answers from the debtor, but got nothing. Those creditor companies have hired debt collection dubai services in the UAE. The expertise of a debt collector is that he can recover the oldest debt from the debtor.




Why does a debt occur? The most common reason for debt occurring is unpaid invoices stacked on creditor’s account. When a business is not paid on time, it's business financial cycle suffers. No business can do this much damage to the company, and so some have also made strategies for debt recovery dubai. None of those strategies work when you want to make good relations with the debtor. The debt would come in different forms. Sometimes, you are using your credit card and all those purchases are debt unless you pay them on time. There are medical or utility bills that are not paid on time. They all seem small debts, but once they are gathered, huge financial distress comes out.



You can also remove the collection from the credit record if you try your best to do so. Once your debt has been submitted to the debt collector, he would be there for the next six to seven years. You must always check your credit records before any debt collection company would approach you. Sometimes, you are mistakenly considered as a debtor who has to clear the debt, but according to you, it should be someone else.

The debt collection dubai has great services because they give a chance to the debtor to clear his stance rather running from the debt. Some debtors would vanish off when they are approached by the debt collection agency. It is wrong of them to do so, because these debt collectors would always give a chance of negotiation to the debtor, knowingly about the debtor’s financial status. As a credit company, choose your debt collection wisely. Don’t fall for expensive debt collectors. You can also read our other Blog Posts about Law Firms in Dubai offering Market Trade Recovery Services.

Tuesday 17 September 2019

Different Methods to Control Debt Collectors

A debt collection agency would call you only if they find your credit records. But, if you think that you have cleared all the payments then, you must talk to them first. The debt collectors are responsible for collecting debt from the debtor on behalf of the creditor company. The debt collection dubai services work in two ways. They are either hired by the creditor company and get a commission when the amount is recovered or the debt collection agency would buy debt from the creditor company and deal with the debtor themselves.


These debt collectors would use several techniques to recover the debt. Usually, they began calling the debtor on private numbers as well. Some of these debt collectors don’t have the basic business ethics and might intrude in debtor’s private life. If you don’t want the debtor to disturb you, then better talk to him in the office hours about debt and clear it soon. Also, these debt collectors take advantage of people who don’t know about their rights. And so, they would explain the law in a way that you are stressed enough to pay the amount as much as you can. That’s their job to do and that’s how they earn money from their clients, else they don’t have any other motive to act like that. If you find any problem in dealing with the debt collectors, then you should do some confirmations.


At first, you should ask the debt collector if he has the written proof that shows you owe a debt to anyone. He must let you know about the debt payment on paper, and make sure that he is informing about it legally. He shall not violate the terms of the debt collection process.
If you have any doubt regarding the amount, then you should talk about it rather, just create a dispute on that. Just tell them in written or whatever the legal way is that you don’t owe any money or if you do, then correct the amount. The debt recovery dubai have professional debt collectors and so they will help the debtor if they can.


Debt Collection Agency quickly recovers the Unpaid Debts or Financial Liabilities. It saves the time of Creditor as well as his time. It saves the money of the Creditor which is required on filling the Case. Debt Collection Agency puts a great pressure on the Debtors to recover the unpaid debts. One must avail this service before going legally. What if the matter is not resolved by debt collectors then? Yes here comes the time when Case can be filed, Civil Lawyers can help out you here. The Debt Collection Process can also be used as evidence here.