[Dubai - United Arab Emirates, 21 September 2016] – The Rental Disputes Center (RDC), the judicial arm of the Dubai Land Department (DLD), has signed an agreement with Emirates Auction L.L.C. - the leading company in hosting, organising and managing public auctions of all kinds in Dubai. This agreement primarily aims to facilitate services for customers of the RDC and to safeguard the speed of their implementation, in order to deliver customer satisfaction and happiness.
The MoU, signed by both the Director of RDC, HE Abdulqader Musa Mohammed, and the Executive Director of Emirates Auction, Mr. Abdullah Matar Al Mannai, states that the company will be commissioned by RDC to organise movable chattels auctions (any chattels left at the property during the time of provisional attachment). This MoU outlines how auction of movable properties that have been put on hold by the executional judge will be organised, in addition to implementing auctions at either the company's headquarters or place of custody to achieve optimum value for the property.
Commenting on this, HE Abdulqader Musa Mohammed said: "We are keen on resolving rental disputes as fast as possible, and in order to ensure the rights of all parties, we decided to carry out an agreement with a company specialising in this field. We are confident that Emirates Auction has sufficient expertise to carry out the organisation and completion of auctions for the sale of movable properties, to get the best return from these properties, in a procedure that aims to provide speed and profitability to all clients."
Under the agreement, Emirates Auction will hold an initial public examination on movable properties for bidding tasks, followed by an announcement of the date of sale in accordance with legal procedures, and allow for those who wish to inspect the assets during the mentioned period.
Emirates Auction has committed itself to a number of tasks and obligations, including obtaining all permits, approvals, conditions, authorisations and requirements from competent government authorities to conduct auctions, as well as arranging and implementing associated technical and administrative work. The company is also bound to keep movable properties configured and prepared for auction, and to take into account all applicable laws in the Emirate of Dubai.
Executive Director of Emirates Auction, Mr. Abdullah Matar Al Mannai welcomed this agreement, which will contribute towards facilitating customer transactions and to accelerating the closure of rental dispute processes, in order to support the Dubai government's vision to bring happiness to all of Dubai's residents. This will save time and effort, delivered by our organisation, which has extensive experience in organising and managing auctions across different Emirates.
Al Mannai also referred to the company's procedures for taking measures to regulate the sale, marketing and management of the auction, according to the latest global systems and specifications, by using their experience in developing abilities to promote and market the sales process, and the preparation of software for movable properties to support classifications and sales.
Auctions will be organised under the supervision of the execution judge and in the presence of a court bailiff, and will record actions and proceedings of the auction. Following this process it will be submitted to the execution judge, who will decide whether to approve the auction or re-bid. In the case of sale the value of movable property is to be deposited at RDC and deducted from the value of the claim, followed by issuance of an RDC letter to the concerned authorities for the transfer of ownership.