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Leasing Terms

(Aligned with Federal Decree-Law No. 32 of 2023)

1. Finance Lease Structure

A finance lease allows the Lessee to use a vehicle for a defined term against periodic payments, with a possible option to own the vehicle.

2. Ownership

Unless otherwise agreed in writing, the vehicle remains the property of the Lessor until full fulfillment of the lease terms.

3. Obligations of the Lessee

The Lessee shall:

  • Use the vehicle responsibly
  • Maintain and insure the vehicle
  • Pay all amounts on time
  • Bear the risk of loss after delivery (unless otherwise agreed)

4. Termination

Termination may occur:

  • By mutual agreement
  • Due to material breach
  • As permitted under UAE Finance Lease Law

5. Governing Law

All lease relationships are governed by UAE law.