Document background
This License Termination agreement template is specifically designed for use in the United Arab Emirates business environment, where licensing arrangements are common across various sectors. The document should be used when parties wish to formally terminate an existing license agreement, whether by mutual consent or unilateral action as permitted under the original agreement. It incorporates essential elements required under UAE Federal Law No. 5 of 1985 (Civil Code) and relevant commercial regulations, ensuring proper documentation of the termination process, settlement of obligations, and post-termination responsibilities. The template is particularly important in the UAE context where business relationships often involve complex licensing structures and may require consideration of local sponsorship arrangements and regulatory approvals.
