Corporate Lawyers of Dubai have elaborated the Law including the
rights and obligations of lessor and lessee through this
article.
The Concept
Financial leasing is a concept wherein a licensed company (the
lessor) purchases the asset of their customer (the lessee) on lease
for a certain period of time in return of a mutually agreed payment
schedule. Similar to other lease agreements, the lessor is obliged
to maintain the assets while the lessee enjoys the possession of
the asset for a said duration, bearing all costs linked to the
maintenance of the asset.
License Requirements
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Article 2 of the Law strictly prohibits the company from
undertaking financial leasing without the relevant license; the law
reads as follows:
