The idea of a financial lease contract has appeared as a solution to old problems in an attempt to support contractors as well as other project achievers. This type of contract is required when there is a demand to possess the machineries they need to accomplish the projects they are in charge of. Indeed, such type of contract is in favor of both the lessee and the lessor. It is in favor of the lessee since he can benefit of equipment owned by others for payments less than those he should pay if he decides to buy these machineries. Moreover, it gives the lessee enough time to check and verify these machineries and think carefully about their feasibility before he makes the purchase as he is going to use them for somehow a long time. Besides, leasing these machineries shall no place much burden on the lessee’s budget.As for the lessor, i.e. the owner, he shall retain the ownership of the leased equipment or properties, and he can get them back if the lessee procrastinates in payment or in other obligations as per the contract, such as the normal use of the leased item and maintaining it.1The Federal Law No. 08 of 2018 has been issued in the United Arab Emirates, and it is relatively a new law,which has attempted to make use of past laws and experiences. Accordingly, the scope of our study shall focus only on this law, adopting an analytic methodology, and comparative sometimes.

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