Rabab Syed — 24 June 2026
DATED 24 June 2026
BETWEEN:
(1) INBUSINESS ADVISORY DMCC
-and-
(2) Rabab Syed
ENGAGEMENT AGREEMENT
This Engagement Agreement ("Agreement") is made between:
Rabab Syed (the "Client"), a company established in DMCC and registered address Dubai, UAE; and
INBUSINESS ADVISORY DMCC, a company incorporated in Dubai Multi Commodities Centre with License No. DMCC-830288 and registered address at Unit No: UT-11-CO-155, DMCC Business Centre Level No 11, JLT, Dubai, UAE, ("InBusiness").
The Client and InBusiness hereafter shall be collectively referred to as "Parties" and individually as "Party".
WHEREAS:
PARTIES HEREBY AGREED THAT:
1. TERMS AND CONDITIONS APPLICABILITY
1.1 InBusiness has agreed to provide the services to the Client in accordance with and subject to the General Terms and Conditions (the "Terms" attached to this Agreement as Annex III), which shall be deemed incorporated into this Agreement.
1.2 All capitalised terms used in this Agreement and not otherwise defined herein shall have the meanings assigned to them in the Terms.
1.3 In case of any inconsistencies between the Terms and this Agreement, the latter shall prevail over the Terms.
2. VALIDITY OF THE AGREEMENT
2.1 This Agreement shall commence on 24 June 2026 (Effective date) and shall continue until terminated by either Party by giving not less than 60 days' written notice. Termination shall not affect any fees, expenses or obligations accrued before the effective termination date.
3. SERVICES
3.1 InBusiness shall, during the term of this Agreement, provide the Client with the Services set out in Annex II.
3.2 InBusiness shall carry out all of the Services, its duties and responsibilities diligently, efficiently, and faithfully with due care and skill and notify the Client as soon as it becomes aware of any obstacles to the due performance of the Services.
3.3 Any other specific services or advice requiring additional and substantial scope of assistance are explicitly excluded from the Scope of Services and are subject to a separate assessment by InBusiness. After evaluation of the specific request, InBusiness shall provide to the Client the expected time frame to complete the Services, the applicable Service Fee, and other details (if applicable) in writing.
4. COOPERATION FROM THE CLIENT
4.1 The Client agrees and undertakes to co-operate with InBusiness to the fullest extent in connection with all matters related to the provision of the Services and fully and accurately disclose to InBusiness all facts and circumstances that may be relevant to the provision of the Services.
4.2 The Parties should follow procedures and terms specified in the Annex IV.
4.3 The Client undertakes to keep InBusiness timely informed of any changes in the Client's addresses, contacts, any changes in the ownership or management structure of the Client and its Group Member(s) (if applicable), any changes of the Authorised Contact Persons.
4.4 The Client expressly agrees that InBusiness may rely upon and act in accordance with any instruction or other communication which may from time to time be or purport to be given by letter, telephone, facsimile, or email by the Client or its Authorised Contact Person.
5. SERVICE FEES AND BILLING ARRANGEMENTS
5.1 In consideration for the Services under this Agreement, the Client shall pay InBusiness a fixed monthly Service Fee of 1,500 USD, plus VAT (or in AED, equivalent as per the UAE Central Bank exchange rate at the date of payment). The above Service Fee includes the scope mentioned in the Annex II, part 1.
Any extra services are subject to a preliminary agreement between the Parties. Should Client's business activity level exceed the volume of work agreed in the Annex II, additional charges as per the Annex II can be charged, or Parties should agree on upgrading the current package of services by signing an amendment to the Agreement.
The service fee should be payable monthly in advance and is chargeable from 01 July 2026.
5.2 The Service Fee may be revised by InBusiness at any time subject to 60 (sixty) days prior notice to the Client.
5. SERVICE FEES AND BILLING ARRANGEMENTS
5.3 The Service Fee is exclusive of actual expenses, and disbursements incurred in the context of the provision of Services, including but not limited to traveling, accommodation, courier, charges payable to the governmental authorities, and all other miscellaneous expenses.
The Client, where required, authorizes InBusiness to make payments on their behalf in relation to actual expenses and disbursements mentioned in the clause 5.3.
5.4 The Service Fees can be paid to InBusiness by wire transfer, online payment, or cash. However, the amount paid by cash should not be above USD $ 10,000 as per the UAE Central Bank Regulations.
5.5 If paid Service Fees are subject to any deduction or withholding in respect of tax in any jurisdiction, InBusiness reserves the right to charge the Client an additional amount which will, after such deduction or withholding has been made, leave InBusiness with the same amount it would have received in the absence of such deduction or withholding.
5.6 For any additional Services the Client may request, and which are out of the scope of this Agreement, InBusiness shall offer the Service Fee after examining the nature of requested Services.
5.7 For any additional Services the Parties will make an additional agreement with price agreed by both parties.
5.8 Invoices issued by InBusiness for the Services, which include any actual expenses and disbursements incurred on behalf of the Client in the course of providing the Services, must be settled by the Client promptly but in any case, not later than 10 (ten) Business Days of the receipt of invoice(s).
5.9 InBusiness notifies the Client about the third-party fees before executing the Services. The Client acknowledges that third-party fees may be subject to adjustments by relevant third-party service providers at their absolute discretion. The Client shall be promptly notified by InBusiness of any fee adjustments by such third parties.
6. APPLICABLE LAW AND JURISDICTION
6.1 The Agreement shall be governed by the laws of the United Arab Emirates as applicable in the Emirate of Dubai.
6.2 Any dispute arising out of the formation, performance, interpretation, nullification, termination, or invalidation of the Agreement or arising therefrom or related thereto in any manner whatsoever shall be settled by arbitration in accordance with the provisions set forth under the Rules of Commercial Conciliation and Arbitration ("Rules") of the Dubai Chamber of Commerce & Industry, by one or more arbitrators appointed in compliance with the Rules.
7. COUNTERPARTS AND SIGNATURE
This Agreement may be executed in one or more counterparts, each of which constitutes an original and all of which taken together constitutes the same Agreement. Each Party may sign this Agreement using an electronic or handwritten signature, which is of equal effect, whether on original or on electronic copies.
8. GENERAL PROVISIONS
8.1 Annex I (Authorized Contact Persons), Annex II (Scope of Services), Annex III (General Terms and Conditions), and Annex IV Cooperation under the Contract in relation to Accounting & Bookkeeping Services) shall constitute an integral part of this Agreement.
8.2 All amendments and modifications to this Agreement shall be in writing and shall be valid only if executed by the authorised representatives of the Parties.
IN WITNESS WHEREOF THIS AGREEMENT has been signed by or for and on behalf of the Parties hereto the day and year first before written.
Rabab Syed
Name: Rabab Syed
Title: Authorized Signatory
Date: 24 June 2026
INBUSINESS ADVISORY DMCC
Name: Madinakhon Rustamzoda
Title: General Manager
Date: 24 June 2026
Annex I
AUTHORISED CONTACT PERSONS
The Parties agree that the authorized contact person(s) and/or authorized representative(s) of the Client for the purposes of this Agreement, including providing instructions to InBusiness, approving documents, communications, and coordination in relation to the Services, shall be agreed separately by the Parties in writing from time to time.
The Client may update or replace any authorized contact person by providing prior written notice to InBusiness.
InBusiness shall be entitled to rely on any instructions, approvals, confirmations, or communications received from the authorized contact person(s) most recently designated by the Client in writing.
Annex II
Part 1 – THE SCOPE OF SERVICES COVERED BY THE FIXED FEE IN THE CLAUSE 5.1
Accounting Services
| Service | Quantity / Frequency (maximum) |
|---|---|
| Financial Statements | Annually |
| Bookkeeping | 12 times/year |
| VAT Return Filing | 4 times/year |
* Shall the volume of work exceed the above scope, the fee will be renegotiated.
Annex III
GENERAL TERMS AND CONDITIONS
1. DEFINITIONS AND INTERPRETATION
1.1. The definition and rules of interpretation in this paragraph 1 apply in these Terms and Conditions and any Agreement unless the context requires otherwise:
Agreement means any agreement between the Client and/or any of its Group Member(s) and InBusiness (including, without limitation, these Terms; the Offer accepted by the Client by a mode specified in the Offer; and the Engagement Agreement);
Applicable Law means the law governing these Terms as well as any public or internal policies, codes, professional rules applicable to InBusiness or the Services;
Authorised Contact Person means an authorized representative appointed by the Client, whose details are set out in the Agreement or in any Annex thereto;
Business Day means any day that is not Saturday, Sunday, or a declared public holiday in the Emirate of Dubai, United Arab Emirates.
Client means a natural person, company, corporation, trust, foundation, any other form of a legal entity, partnership, or unincorporated business set up to which InBusiness provides any Service;
Compliance Rules means the legal and regulatory framework applicable under the UAE Federal AML, CTF, and CPF legislation, including but not limited to any act, regulation, procedure, and policy governing directly or indirectly (e.g., through a regulatory body) the provision of Services to the Client, any internal compliance policy & procedure and any mandatory disclosure, automatic exchange of information, conflict of interest, anti-money laundering or (counter) terrorist financing act or countering proliferation financing or similar regulation and as such legal and regulatory framework may vary from time to time;
Confidential Information has the meaning provided in paragraph 13;
Director(s) means the member(s) of any corporate body of the Client, other than the shareholder, but including the liquidator;
Engagement Agreement means a customized Agreement between Client and InBusiness for providing of specific Services to the Client on a continuous basis;
Group Member(s) means (i) UBO (ultimate beneficial owner), or parent company (and any subsidiary thereof), branch of the company, and (ii) any of their directors, authorized signatories, board members, officers, contractors, delegates, sub-delegates, agents, shareholders or representatives;
Offer means an offer from InBusiness to the Client containing, in particular, specific Services the Client requested or may be interested in, the price for each particular Service or a complex of Services (whichever is applicable);
Parties mean the Client and InBusiness altogether, each of them separately – a Party;
Sanctions mean economic or financial sanctions, any sanction laws or regulations, restrictive measures, or other similar instruments as amended from time to time, which restrict dealings with certain countries or individuals by the Sanctions authority;
Sanctions authority means US Department of Treasury's Office of Foreign Assets Control (OFAC), the United Nations, the European Union, Her Majesty's Treasury, or any other relevant government authority in any applicable jurisdiction, each foresaid sanctions authority as supplemented or substituted from time to time;
Service(s) means corporate, immigration, compliance, administrative, advisory, and other business-related services rendered by InBusiness to the Client under or in connection with any Agreement;
Service Fees means fees for the Services indicated in the Agreement; and
Terms mean these terms and conditions.
References to a person include natural person, company, partnership, joint venture, association, government, governmental or state agencies, foundation and trust (in each case whether or not having separate legal personality and irrespective of the jurisdiction in or under the law of which it was incorporated or exists) or other entity and that person's successors in title and permitted assigns; (a) References to "in writing" shall be construed as written or represented by any means reproducible in writing, including any form of print, email, facsimile, or photograph or represented by any other substitute or format for storage or transmission for writing or partly one and partly another; (b) References to any party to these Terms shall include references to such party's successors.
2. APPLICABILITY
2.1 These terms and conditions (the Terms) apply to and govern each engagement between the Client and InBusiness, including whenever the Client: (a) requests or receives any Services, (b) signs or otherwise enters into any proposal, engagement letter or agreement with InBusiness (each an Agreement), or (c) pays any invoice issued by InBusiness. The Client's payment of an invoice shall constitute the Client's acceptance of these Terms for the relevant Services and, where applicable, for any ongoing or future Services.
3. DUTIES, RESPONSIBILITIES AND WARRANTIES
3.1. InBusiness and Client shall agree on the scope of Services and the applicable Service Fee at the outset of each matter on which InBusiness performs the Services.
3.2. The Client agrees and shall ensure that its Group Members shall explicitly agree that InBusiness may outsource (in any part or in whole) any Services to third parties while remaining liable to the Client for the actions of the availed third parties as for its own.
3.3. InBusiness shall provide the Services and shall implement in an efficient manner all reasonable instructions received from the Client provided that they are not unlawful and/or do not require InBusiness to act in breach of the Applicable Law. InBusiness shall not be responsible for any decisions taken in respect of the Client by any authority, institution, or organisation (including, without limitation, government authorities and banks). The Service Fees paid to InBusiness are not refundable.
3.4. In respect of accounting services to be provided by InBusiness at the request of the Client, it is agreed as follows.
3.4.1. The Client is fully responsible for the completeness and authenticity of data and documents provided to InBusiness. InBusiness shall not be responsible for any error, delay or omission to the extent caused by inaccurate, incomplete, misleading or late information supplied by or on behalf of the Client.
3.4.2. The Client takes the responsibility for the correctness of opening balances provided at the handover date.
3.4.3. InBusiness cannot be responsible for any errors/mistakes in relation to the period preceding the handover date.
3.4.4. InBusiness cannot be responsible for the breach of statutory or internal deadlines if the data is not provided to InBusiness on time.
3.4.5. InBusiness shall immediately stop provision of services if there is a reasonable ground to believe, that there is a fraud committed by the Client or the Client intentionally distorts and provides false, misleading or fraudulent information, or requests or pressures InBusiness to prepare, alter or present records in a manner that InBusiness reasonably considers unlawful, misleading or professionally inappropriate.
3.4.6. The Client shall be solely responsible for providing all documents, information, and materials required for the performance of the Services in a timely, complete, and accurate manner. InBusiness shall not be obligated to issue reminders, follow-ups, or repeated requests for any such documents or information, whether prior to or after the initial request.
3.4.7. InBusiness reserves the right to process any documents received within up to five (5) working days from the date of receipt. Any delays in the provision of required documents by the Client may result in corresponding delays in the delivery of the Services, for which InBusiness shall bear no responsibility.
3.5. Notwithstanding duties and responsibilities of InBusiness in relation to the Services, the Client acknowledges that the Client shall retain responsibility and accountability for:
4. COMPLIANCE WITH LAWS AND REGULATIONS
4.1. The Client accepts and shall ensure that it and its Group Members shall accept that InBusiness may take whatever steps InBusiness considers appropriate to comply with the UAE Federal Regulatory Compliance Framework, Sanctions, and the Compliance Rules.
4.2. The Client accepts and shall ensure that it and its Group Members shall accept and commit to providing InBusiness from time to time with all documents and information with respect to the Client or any of its Group Members that InBusiness is or may be required to collect, maintain, update or use to satisfy the relevant obligations in connection with the Services provided under any Agreement or to satisfy the requirements of the Compliance Rules and the Sanctions.
4.3. InBusiness may request from the Client at any time and retain information and documentation relating to the Client's identity and the identity of certain individuals within its Group Members, including but not limited to authorized representatives, directors, and ultimate beneficial owners.Each of InBusiness and the Client, the latter also on behalf of its Group Members, hereby represents, warrants and covenants, that it shall not at any time engage in (i) any act or practice that would, directly or indirectly, contravene any anti-corruption act or regulation or any similar law applicable in any jurisdiction in which it engages in any activity, that prohibits bribery, money laundering or payments to public officials or private individuals, including, without limitation, any policies of any governmental or quasi-governmental agency implementing or enforcing the foregoing nor (ii) in any other unlawful activity.
4.4. The Client further warrants and undertakes that, immediately upon becoming aware thereof, it shall notify InBusiness of (a) any event which could be reasonably foreseen to have a material effect on the Client or its assets; and (b) any actual or threatened litigation in any jurisdiction or any actual or threatened investigation by any judicial or regulatory authority and any progress thereof, and it shall promptly provide such information as InBusiness may, at its discretion, require in respect thereof.
5. REMUNERATION
5.1 The Client agrees that all invoices shall be deemed to be accepted unless such is disputed in writing within 5 (five) Business Days from the invoice date. Payment of any invoice shall be due within 10 (ten) Business Days of the date on which the Client has received it.
5.2 If any invoices are not paid in full in accordance with the terms herein, InBusiness reserves the right to:
5.3 In the event of continued default of payment by the Client, all costs of collection, both judicial and other third party costs, shall be for the account of the Client. InBusiness is entitled to outsource the collection of its receivables to a third party or debt collection agency, whether or not located in the jurisdiction of the Applicable Law.
6. ELECTRONIC COMMUNICATION AND SOFTWARE APPLICATIONS
InBusiness may conduct electronic communications and use software applications (including but not limited to electronic/digital signature applications) and the internet to provide the Services. There is no guarantee that electronic communications between InBusiness and the Client shall be secure, not-intercepted, virus-free, timely, or successfully delivered. InBusiness shall not incur any liability resulting from or in connection with use of email, software applications, or facsimile communication, and shall not be liable to the Client if, due to circumstances beyond InBusiness's reasonable control, such electronic communications or software applications are intercepted, delayed, lost, destroyed, corrupted, not received or received by persons other than the intended addressees.
7. FILES AND DOCUMENTS
7.1 The Client agrees that InBusiness may keep the original or copy of any documents, papers, or other materials and, in particular, any documentation required under Compliance Rules (in either physical or electronic form) in relation to any Services for archival purposes under applicable professional standards and in accordance with the Applicable Law.
8. INDEMNITY
The Client shall fully indemnify InBusiness and hold InBusiness harmless, to the fullest extent permitted by the Applicable Law, from and against any threatened, past, pending, or future claims, whether contractual or pursuant to a wrongful act, dispute, or controversy of any nature instigated by any person other than the Client arising, directly or indirectly, in connection with the performance by or on behalf of InBusiness of the rights and obligations under any Agreement or the rendering of any Service, except for any claims resulting from actual fraud, gross negligence or willful misconduct by InBusiness.
9. LIABILITY OF INBUSINESS
9.1 InBusiness shall not be liable for any error of judgment or damage, loss, claims, proceedings, demands, liabilities, costs or expenses whatsoever or howsoever suffered or incurred by the Client or any of its Group Members or any other person at any time as a result of, or directly or indirectly in connection with, the Agreement or the provision of Services by InBusiness under these Terms, unless caused by the actual fraud, gross negligence or willful misconduct by InBusiness as determined by the final judgment of a competent court.
9.2 To the maximum extent permitted by Applicable Law, the aggregate liability of InBusiness arising out of or in connection with this Agreement, whether in contract, negligence or otherwise, shall not exceed an amount equal to two months of Service Fees paid by the Client immediately preceding the event giving rise to the claim.
9.3 Neither the Client nor any of its Group Members shall, in any event, be entitled to claim for any punitive, special, indirect, or consequential damages or loss of profit or for any loss of goodwill or possible business, whether actual or prospective, as a result of or in connection with the Agreement or the Services.
10. PROCEDURE FOR RESOLVING CLAIMS
Any claim by either the Client or InBusiness under these Terms or in connection with any Agreement shall be notified in writing. In case of a claim between the Client and InBusiness, the Parties shall first attempt to resolve the claim amicably.
11. CONFIDENTIALITY
Each Party shall maintain the confidentiality of Confidential Information throughout the term of this Agreement and for three years following its termination. Obligations relating to trade secrets shall continue for so long as such information remains a trade secret.
12. CIRCUMSTANCES BEYOND CONTROL
12.1 A Party shall not be liable for the non-performance or improper performance of its contractual obligations under the Agreement if the performance was impossible or impracticable as a result of the occurrence of extraordinary (force-majeure) circumstances, provided that such Party informs the other Party in writing of such circumstances within 5 (five) Business Days following the date when such circumstances have occurred. If force-majeure circumstances occur, the term for carrying out obligations under the Agreement shall be extended commensurate to the duration of force-majeure circumstances and their consequences. Either Party may send the other Party notification in order to determine a mutually acceptable solution for the performance of the contractual obligations under the Agreement or the termination thereof.
12.2 Force-majeure shall mean extraordinary and unpreventable circumstances such as war, natural disasters, strikes, acts, regulations, or laws of any government, loss or malfunctions of communications or computer (software and hardware) services or any other circumstance beyond the reasonable control of the affected Party which prevents the fulfillment of its obligations under the Agreement provided that the occurrence of such circumstance is not caused by any action or inaction of the affected Party.
13. NOTICES
13.1 Any notice given by either Party to the other Party under the Agreement shall be in writing and shall be directed to that Party to the address, or email stated in the Offer or the Engagement Agreement or such other address as may be notified by a Party to the other Party in accordance with this paragraph 13.
14. ENTIRE AGREEMENT
14.1 The Agreement constitutes the entire Agreement between the Parties and supersedes and extinguishes all previous agreements, promises, assurances, warranties, representations, and understandings between them, whether written or oral, relating to its subject matter.
15. WAIVER
No failure or delay by a Party to exercise any right or remedy provided under the Agreement or by the Applicable Law shall constitute a waiver of that or any other right or remedy, nor shall it prevent or restrict the further exercise of that or any other right or remedy. No single or partial exercise of such right or remedy shall prevent or restrict the further exercise of that or any other right or remedy. Any waiver of either Party shall be in writing.
16. DATA PROTECTION
Each Party shall process personal data received in connection with this Agreement in accordance with Applicable Law. InBusiness may process and transfer personal data to its employees, subcontractors, professional advisers, software providers and competent authorities where reasonably necessary for the provision of the Services or compliance with legal obligations. Each Party shall implement appropriate measures to protect such personal data against unauthorised access, loss or disclosure.
Annex IV
COOPERATION UNDER THE CONTRACT IN RELATION TO ACCOUNTING & BOOKKEEPING SERVICES
In respect of accounting services to be provided by InBusiness at the request of the Client, it is agreed as follows.
1. SERVICE FEES
1.1 InBusiness should provide accounting services from the Signature Date (hereinafter – the Handover Date).
1.2 If InBusiness' support is required with accounting/ audit/ or other services for the period before the handover date, a separate fee will be charged.
1.3 A collection of documents and verification of accounting records for the period preceding the handover date is chargeable separately.
2. WORK FLOW
2.1 The Client should provide documents to InBusiness at least once a month, but not later than the 5th working day of the following month. It is a responsibility of the Client to provide a full set of documents on time.
2.2 The Client provides scanned copies of documents by e-mail or other means as agreed by the Parties. InBusiness does not keep hard copies of documents unless specifically agreed in writing.
2.3 The documents for UAE entities should contain an English translation. It is a responsibility of the Client if the documents provided do not meet the requirements of the UAE Law.
2.4 The Client is fully responsible for the completeness and authenticity of data and documents provided to InBusiness. InBusiness cannot be liable for any errors caused by incorrectly provided data.
2.5 Should InBusiness require any explanations of the content of documents, transactions or request additional documents, the Client shall cooperate accordingly.
3. DEADLINES
3.1 Should the Client have internal deadlines for provision of any kind of reports within the scope of the Agreement, the Parties should agree on such dates in writing.
3.2 InBusiness cannot be responsible for the breach of statutory or internal deadlines if documents and required comments are not provided to InBusiness on time.
3.3 InBusiness cannot be responsible for a breach of statutory of internal deadlines for the period from the Handover Date to the effective date of the Agreement.
3.4 Should the Client delay provision of documents and/or required clarifications, the deadline can be renegotiated.
4. TERMINATION
InBusiness will immediately terminate the Agreement if there is a reasonable ground to believe, that there is a fraud committed by the Client or the Client intentionally distorts and provides ingenuine data, and/or if the Client intimidates InBusiness to distort the reported figures.