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Intercompany Settlement Agreement

Intercompany Settlement Agreement Template for United Arab Emirates

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Key Requirements PROMPT example:

Intercompany Settlement Agreement

"I need an Intercompany Settlement Agreement governed by UAE law to document a one-time settlement payment of AED 5 million between our Dubai mainland parent company and its wholly-owned free zone subsidiary, to be completed by March 2025."

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Document background
The Intercompany Settlement Agreement is a crucial document used when related companies within a corporate group need to formalize the settlement of outstanding financial obligations, reconcile accounts, or resolve internal disputes in the UAE. This agreement is particularly important in the UAE context due to specific regulatory requirements regarding intercompany transactions, economic substance rules, and anti-money laundering regulations. It is commonly used during group restructuring, year-end account settlements, or when resolving historic intercompany balances. The document must comply with UAE Federal Laws, including the Commercial Companies Law, Civil Transactions Law, and relevant free zone regulations where applicable. It typically includes detailed payment terms, tax considerations, and appropriate corporate authorizations, making it a key instrument for maintaining transparent and compliant intercompany relationships.
Suggested Sections

1. Parties: Identification of all involved companies, including registration details and addresses as required under UAE law

2. Background: Context of the intercompany relationships and circumstances leading to the settlement

3. Definitions: Definitions of key terms used throughout the agreement

4. Settlement Amount: Clear specification of the settlement sum and currency

5. Payment Terms: Details of payment schedule, method, and currency of payment

6. Tax Implications: Treatment of taxes, VAT, and other fiscal considerations

7. Representations and Warranties: Standard representations regarding authority, validity, and compliance with laws

8. Confidentiality: Provisions regarding the confidential treatment of the agreement and related information

9. Release and Waiver: Mutual release of claims related to the settled matters

10. Governing Law and Jurisdiction: Specification of UAE law as governing law and jurisdiction for disputes

11. General Provisions: Standard boilerplate clauses including notices, amendments, and severability

Optional Sections

1. Multiple Jurisdiction Provisions: Required when settlement involves entities in different jurisdictions or free zones

2. Set-off Rights: Include when parties have ongoing commercial relationships with multiple payment obligations

3. Security Arrangements: Necessary when settlement includes security for payment obligations

4. Interest Provisions: Include when installment payments or delayed payments are contemplated

5. Parent Company Guarantee: Required when parent company backing is needed for settlement obligations

6. Regulatory Compliance: Include specific provisions when settlement relates to regulated industries or activities

7. Dispute Resolution Mechanism: Detailed ADR provisions when parties prefer specific resolution procedures

Suggested Schedules

1. Schedule 1 - Settlement Calculation: Detailed breakdown of how settlement amount was calculated

2. Schedule 2 - Payment Schedule: If payments are in installments, detailed payment dates and amounts

3. Schedule 3 - Supporting Documents: List of relevant documents supporting the settlement calculations

4. Schedule 4 - Corporate Authorizations: Copies of board resolutions and other corporate approvals

5. Schedule 5 - Related Agreements: List of other agreements affected by or relevant to the settlement

6. Appendix A - Bank Account Details: Detailed banking information for settlement payments

7. Appendix B - Tax Documentation: Required tax forms and certificates

Authors

Alex Denne

Head of Growth (Open Source Law) @ ¶¶Òõ¶ÌÊÓƵ | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

alex.den.21@genieai.co
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Relevant Industries

Financial Services

Manufacturing

Real Estate

Technology

Healthcare

Retail

Energy

Transportation & Logistics

Professional Services

Construction

Telecommunications

Hospitality

Relevant Teams

Legal

Finance

Treasury

Tax

Compliance

Corporate Governance

Internal Audit

Risk Management

Company Secretariat

Corporate Finance

Relevant Roles

Chief Financial Officer

Group Financial Controller

Legal Counsel

Tax Director

Treasury Manager

Company Secretary

Finance Director

Compliance Officer

Group Accountant

Financial Planning Manager

Corporate Finance Manager

Internal Audit Manager

Risk Manager

Managing Director

Board Director

Industries







Teams

Employer, Employee, Start Date, Job Title, Department, Location, Probationary Period, Notice Period, Salary, Overtime, Vacation Pay, Statutory Holidays, Benefits, Bonus, Expenses, Working Hours, Rest Breaks,  Leaves of Absence, Confidentiality, Intellectual Property, Non-Solicitation, Non-Competition, Code of Conduct, Termination,  Severance Pay, Governing Law, Entire Agreemen

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