DCCI to help firms build solid foundation

The Dubai Chamber of Commerce and Industry’s (DCCI) contract drafting service is proving a boon to the newly-established companies. In line with its efforts to support the development of business, the new Dubai Chamber initiative is assisting the newcomers in setting up their businesses. The contract service initiative, available to all members and non-members of Dubai Chamber, is to better serve the business community and to support business growth in the Emirate. It also helps investors establish new companies by offering business formation contracts, drafted by experienced legal professionals, at reasonable price. The contracts can also be prepared in one or two languages for transparency and clarity for all parties to easily understand the legalities of the contract and to avoid complications arising from their paperwork in the future. Jehad Kazim, Director, Legal Services Department, Dubai Chamber, stated that the drafting of a legal contract is of utmost importance while establishing a business as investors are statutorily obliged to enter into contracts comprising legally binding articles of formation.