The Employee Promissory Note is a critical document in Saudi Arabian employment relationships where employers provide financial benefits or investments in their employees. This document is commonly used when companies offer advanced salary payments, expensive training programs, or educational sponsorships, requiring security for their investment. The promissory note must comply with Saudi Labor Law, Commercial Papers Law, and Sharia principles, making it enforceable in Saudi courts. It includes specific details about the amount owed, payment terms, and conditions, while ensuring the employee's rights are protected under local labor regulations. The document serves as a legally binding commitment that balances the employer's need for financial security with fair treatment of employees under Saudi law.
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1. Header Information: Date, location, and document title in both Arabic and English
2. Party Details: Full legal name, ID/Iqama number, and address of both the employee (promisor) and employer (promisee)
3. Amount Declaration: Clear statement of the promised amount in both numbers and words, in Saudi Riyals
4. Payment Terms: Specific date or conditions when the amount becomes due and payable
5. Purpose Statement: Clear description of why the promissory note is being issued (e.g., advance salary, training costs)
6. Unconditional Promise: Unequivocal statement of promise to pay as required by Saudi Commercial Papers Law
7. Enforcement Rights: Statement of the employer's rights to enforce the promissory note
8. Signature Block: Space for employee signature, witness signatures, and official stamps if required
1. Installment Schedule: Include when the amount is to be repaid in installments rather than as a lump sum
2. Early Payment Provisions: Include when early repayment options are to be specifically allowed
3. Place of Payment: Include when payment must be made at a specific location or through specific means
4. Cross-Default Provisions: Include when the note should be linked to other employment obligations
5. Governing Language: Include when the document is bilingual to specify which language prevails
1. Payment Schedule: Detailed breakdown of installment amounts and due dates, if applicable
2. Calculation of Amount: Breakdown of how the total amount was calculated (e.g., training costs, advances)
3. Related Employment Agreement References: References to relevant sections of the employment contract or other related documents
Relevant legal definitions
Clauses
Relevant Industries
Banking & Financial Services
Manufacturing
Healthcare
Technology
Construction
Oil & Gas
Education
Retail
Professional Services
Telecommunications
Hospitality
Aviation
Relevant Teams
Human Resources
Legal
Finance
Compliance
Employee Relations
Talent Development
Payroll
Corporate Governance
Relevant Roles
HR Manager
Legal Counsel
Finance Manager
HR Director
Compliance Officer
Employee Relations Manager
Talent Development Manager
Training Manager
Recruitment Manager
Payroll Manager
General Counsel
Chief Human Resources Officer
Finance Director
Chief Financial Officer
Company Secretary
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