UAE Commercial Transactions Law — Article 96 — Article (96)
Book Two: Commercial Obligations and Contracts · Part Two: Commercial Sale · Chapter One: General Provisions: Article (93)
The two contracting parties may agree to delegate a third party to fix the price of the item being sold. However, if such party fails to fix the price within the prescribed time limit or within a convenient time if no prescribed term was stipulated, then the current market price at the time and place where the contract is concluded shall be adopted.
Interpretation and application must be checked against the official text and current version.
