Commercial leases are used in a wide range of circumstances and differ significantly in their wording. In addition, such contracts are subject to the provisions of the UAE Civil Code.
The attached article creates a toolkit for landlords and tenants in order that they may structure their discussions. This is achieved by:
- outlining what government support is or may become available to landlords and tenants;
- exploring the context of each landlord and tenant relationship and demonstrating why this may be important;
- breaking down the key elements of a 'damage or destruction' type clause and applying them to the circumstance brought about by Covid19;
- setting out the key Civil Code provisions and analysing whether these are applicable and their utility;
- setting out a checklist of issues to be considered, including in relation to bounce cheques and enforcement proceedings;
- outlining steps that can or should be taken; and
- listing potential settlement options.
We trust this article is of benefit and welcome any additional comments or queries you may have.