Document background
The Purchase And Sale Agreement Extension Form is a crucial document used in the United Arab Emirates when parties need to extend the completion date or modify specific terms of an existing purchase and sale agreement. This document is particularly relevant in situations where unexpected delays, market conditions, or mutual agreement between parties necessitate an extension of the original timeline. It must comply with UAE Federal Law No. 5 of 1985 (Civil Code) and other relevant regulations, depending on the nature of the sale (real estate, commercial goods, etc.). The form typically includes details of the original agreement, the extended timeline, any modified terms, and additional considerations. It's commonly used in real estate transactions, commercial sales, and asset transfers, requiring proper execution and potentially registration with relevant UAE authorities.
