Operation Business UAE | Selling and Operational Adaptation in UAE

Operation Business UAE | Selling and Operational Adaptation in UAE

Operation Business UAE business operating in the United Arab Emirates ought to comply with the rules and regulations as well as the laws that have been put down to control the operation of business. Due to the tremendous growth in the manufacturing and selling sector, companies have to be over-enthusiastic when it comes to following and applying laws.

Silver trading L.L.C is a company which will be located in the United Arab Emirates. It mainly deals with manufacturing, importing and export of hardware and hand tools. The company will officially commence in the year 2016, and it will mainly endeavor in exporting and importing goods in and out of the country. As for now, the company has set up a branch in Abu Operation Business UAE | Selling and Operational Adaptation in UAEDhabi. Their products and brands include; hand tools, garage equipment, welding machines and most importantly, electrical equipment. The company not only manufactures the goods, but also exports them to various countries around the globe.

Clearly, the company was started with one main aim; the core value of not only providing efficient and reliable products, but also perfect and professional services. The company will always thrive under these values and is what will keep them going. The fact that the company will be dedicated in provision of excellent services to the employees and all its stakeholders will eventually make it to be among the leading organizations in its area of specialization.

Memorandum of association for Silver trading L.L.C (Under the UAE commercial companies’ law)

A memorandum of association of a company is a very crucial document in the organization. To this regard, it has to be ardently formulated and vigilantly maintained. Practically, the document contains the fundamental clauses under which an organization is allowed to operate in a certain region or country. Below is a preparation of the memorandum of association used Silver trading L.L.C Company.

Memorandum of Association (MOR)

COMMERCIAL LAW ACT, 2015, UAE

LIMITED LIABILITY COMPANIES

MEMORANDUM OF ASSOCIATION

OF

SILVER TRADING L.L.C

  1. The company’s name is silver trading L.L.C Company.
  2. The officially registered and recognized office of the company will be located in Abu Dhabi.
  • The company is established under the following main objects:

MAIN OBJECTS TO BE OBSERVED ON THE COMMENCEMENT OF THE COMPANY

  1. To carry out the business of manufacturing, exporting, importing, being not only agents, but also dealers in each and every tool in pertinent to machinery and electrical equipment. Practically, the company would use legal tools in all their endeavors to make sure that they comply with the law in each and every strategy they undertake.
  2. The company is established in order to smooth the progress of the society with electrical equipment as well as other materials such as motor machinery, in order to curb the shortage of these items in the country. Additionally, the company aims at nurturing good relationships with other countries through the export and import transactions.
  3. To provide global networks which include but not limited to; acquiring well trained and professional employees and most importantly putting the country on the global map in the manufacturing sector.
THE OBJECTS INCIDENTAL OR ANCILLARY TO THE ATTAINMENT OF MAIN OBJECTS
  1. To indulge into contracts and agreements with local and foreign companies with the ultimate purpose of attainment of its objects.
  2. To advertise the business in any form provided that it is legal; this includes posting bill-boards and visualizing the company in the mass media.
  3. To change the name of the company, acquiring and developing new products as well as patenting them. Basically, this is meant for the collective advantage of the company.
  4. The liability of all the shareholders should be equal.
  5. Any foreign person may not acquire shares exceeding 49% of the whole company.
  6. In any case thereof, the number of shareholders in the company may or must, not exceed 50 at any given time. Additionally, shares are open for pledging; however, the pledge should be registered in the commercial register (Jones, 2011).

Operation Business UAE | Selling and Operational Adaptation in UAE

 POWERS

    • For effective and efficient application of the aforementioned objects, the company has the power to conduct a general meeting with all the shareholders in order to discuss the way forward.
Policies to be Applied for Formation and Breach of Contract

A contract contains the mutual agreement between the employer which is the company and another party which may be the supplier, the customer or else the employee. Essentially, no party should abrogate the contract without prior knowledge of the other party. Therefore once a promise in the contract is broken, the perpetrated party should take legal steps.  In our case, Silver trading company has its own policies in pertinent to the formation and breach of contracts in its transactions.Order Now

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