n the UAE, a Declaration of Loan Waiver is a legal document that confirms one party voluntarily waives the right to recover a loan amount from another. Whether between individuals, companies, or as part of a financial settlement, this declaration ensures there are no future disputes regarding the waived debt.
If you're forgiving a loan in Dubai, our legal experts can help you draft, notarize, and register a valid and binding loan waiver agreement that protects both parties under UAE law.
What Is a Declaration of Loan Waiver?
A loan waiver declaration is a written and signed document confirming that the lender agrees to release the borrower from repaying a loan, either partially or in full. It typically includes:
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Full names and details of both parties
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Original loan amount and date of issuance
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Amount being waived
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Reason for waiver (e.g., goodwill, financial hardship)
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Statement of no further claims
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Signature and date
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Optional: witnesses or notarization
When Is a Loan Waiver Used?
Loan waivers are common in:
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Family financial agreements
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Business settlements or dissolutions
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Charitable acts or goodwill gestures
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Employee loan forgiveness
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Corporate write-offs or restructuring
Legal Requirements in Dubai & UAE
To ensure the waiver is legally enforceable and recognized by UAE courts or government departments:
✅ The declaration must be in Arabic or bilingual (Arabic-English)
✅ Signed by both parties with valid identification
✅ Notarized by a licensed notary public in Dubai or UAE
✅ Free of coercion or financial duress
We provide end-to-end support for drafting, Arabic translation, and notarization.
Our Loan Waiver Declaration Services Include:
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✅ Custom legal document drafting
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✅ Bilingual (English-Arabic) translation
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✅ Legal review and compliance check
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✅ Notary public coordination
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✅ Optional: Attestation from UAE authorities
Frequently Asked Questions (FAQ)
Q: Is a loan waiver legally binding in the UAE?
Yes, if the declaration is properly drafted, signed, and notarized, it is considered legally binding and can be used as evidence in case of disputes.
Q: Can I cancel a loan agreement without a waiver declaration?
It's not recommended. Without a written and signed declaration, future legal claims could still be made.
Q: How much does it cost to create a loan waiver declaration in Dubai?
Fees vary based on complexity, but basic services typically start from AED 300 to AED 1,000, including drafting and translation.
Q: Can I waive a loan partially?
Yes, the waiver can specify a partial amount if both parties agree.
Get Expert Help with Your Loan Waiver Declaration
Avoid future legal issues by drafting your loan waiver declaration correctly the first time. 04 256 2886 today to get started with fast, certified legal support in Dubai.