Cheque Manager is a convenient way to transfer large sums and pay for real estate in the UAE. However, when using this tool, it’s important to consider not only the financial nuances but also the legal aspects. Even small errors can lead to transfer delays, disputes, or violations of regulations. Below, we’ll discuss the five most common legal errors and how to avoid them .
1. Failure to comply with check design requirements
Error: Incorrectly filled out check (incorrect amount, date, recipient name).
Legally, a check is an official document, and banks or platforms strictly check its accuracy. Any typo can invalidate the check, leading to a delay or refusal to accept the payment.
How to avoid: clarify the exact requirements with your manager, double-check all information, and save confirmations.
2. Lack of agreement with the manager
Error: working without an official contract or receipt.
From a legal perspective, the lack of documentation can make it difficult to prove the transfer of funds in the event of a dispute. Newcomers often rely on verbal agreements, which is risky.
How to avoid: Always draw up a contract or receipt for the transfer of funds, which specifies the amounts, terms, details, and signatures of the parties.
3. Ignoring currency control regulations
Error: transferring large amounts without taking into account currency restrictions or regulatory requirements.
The UAE and the sending country have regulations that limit amounts or require documentary proof of the source of funds. Violating these regulations may result in transfer delays or legal action.
How to avoid: clarify currency control limits and requirements in advance and provide the necessary documents.
4. Insufficient confirmation of funds transfer
Error: No official confirmation of receipt of the check by the recipient or the bank.
Legally, this makes disputes difficult to resolve, especially if the amount is large.
How to avoid: Always obtain a signed receipt, electronic confirmation, or scanned receipt with the manager’s signature. This provides legal protection for both parties.
5. Violation of terms and conditions of the contract
Error: failure to comply with the transfer deadlines or check usage rules specified in the agreement with the manager.
Any deviation may be considered a breach of the terms and may result in delayed payment or even legal consequences.
How to avoid: strictly follow the established terms and conditions, check all deadlines and actions at each stage of the translation.
Result
The legal aspects of working with manager checks are no less important than the financial ones. Properly completing documents, adhering to currency regulations, documenting the transfer of funds, and adhering to contract terms will help avoid delays and unpleasant situations when paying for real estate or other major transactions in the UAE.
