UAE Civil Transactions Law

Article 341

Book One: Obligations · Section Two: Effects of the Obligation · Chapter Two: Means of Performance · Part Four: Means of Securing the Performance of the Obligation · First: Security of the Debtor's Assets for Performance

1. All of the debtor's assets constitute a security for the performance of their debts. 2. All creditors are equal in this security, except those who have a right of priority according to the law. 3. The creditors may agree to determine the order of priority in the satisfaction of debts, provided that this does not conflict with the law.

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