Request for Amendment of Finance Lease Contract

Description

This service allows customers to apply to amend a finance lease with the bank.


Service Form

Amendment of Finance Lease Contract


Required Documents

Individuals
1- Original title deed
2- Letter from the financer for the amendment
3- Emirates ID card of the owner (For identification only, no photo is taken)/ valid passport copy for Non-residents

Sole Proprietorship
1- Copy of the Commercial License
2 - Emirates ID Card (For identification only, no photo is taken) or valid passport copy for Non-residents
3- Power of Attorney if appointing someone on their behalf

Limited Liability Company (LLC)
1- Trade license + Page of partners and equities (original and copy)
2- Certificate of Incumbency
3- Establishment contract (appendices if any) (original and certified copy from the Ministry of Foreign Affairs and translated in Arabic)
4- A legal agency in the event of a representative, or a legally certified board of directors decision.


Service Terms

Not Applicable


Service Fees

Fees for amendments to the mortgage amount:
0.25% of the fees shall be calculated from the value of increase in the mortgage amount

Fees for amendments to the mortgage period:
AED 1,000

AED 10 Knowledge fees added to each fee
AED 10 Innovation fees added to each fee


Registration Trustee fees:
- 2,000 AED in case of increase in the mortgage amount
- 300 AED in case of amendment to the mortgage period


Service Procedures

Via the service center
Step 1: The customer goes to one of the Real Estate Registration Trustee offices
Step 2: The customer submits the required documents to the employee and makes sure that they are complete
Step 3: The transaction data is entered into the system by the employee and is verified
Step 4: The customer pays the fees and receives a receipt for payment
Step 5: The output is delivered to the customer



Payment Method

Cheque to Dubai Land Department
ePay



Service Channels

Real Estate Registration Trustees offices (outside)



Issued Documents

Title Deed
Fee Balances
Map



Service Time

25-30 Minutes

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