We are a development company in the United States of America and working with a lender (Al-Zayed Capital) in Bahrain (see info below) who is willing to finance us. They are requesting us to have a surety bond with MAFIZ INSURANCE COMPANY (see info below) in Dubai. They are saying that the insurance council has brought to their notice of the insurance regulation where it was stated that a 40% commitment of the 1% of their premium has to be advanced before closing .

This new law governs the entire Gulf region, for more details on this new regulation, Please see page 49, addendum 3, Section 6 ( Premium Commitment for Alien Companies) of the attached document.

We are not comfortable on giving an upfront fees and would like to have an attorney in Dubai to verify this and to check the closing documents and to ensure the funding.

The closing will be in Dubai.

Is this something that you can help us with and how much will it cost?

Thanks!
Gilles Ouellette, CFO
Lake Charles Resort
Tel: 1-40