This Evergreen Agreement template is designed for businesses seeking to establish long-term, automatically renewing commercial relationships under Saudi Arabian jurisdiction. It provides a comprehensive framework that complies with both Sharia law principles and Saudi commercial regulations, making it suitable for various business arrangements from service provisions to supply relationships. The document is structured to address the specific requirements of Saudi commercial law while incorporating international best practices for perpetual agreements. It includes essential provisions for automatic renewal, termination rights, performance monitoring, and dispute resolution mechanisms that align with Saudi legal requirements. This template is particularly valuable for businesses seeking to establish stable, ongoing commercial relationships in Saudi Arabia while ensuring proper risk allocation and regulatory compliance.
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1. Parties: Identification of the contracting parties, including full legal names, commercial registration numbers, and authorized representatives
2. Background: Context of the agreement and general objectives of the parties
3. Definitions: Key terms used throughout the agreement, including specific Saudi law terminology where relevant
4. Scope of Agreement: Detailed description of services/products/obligations covered by the agreement
5. Term and Renewal: Initial term and automatic renewal provisions, including specific renewal periods
6. Payment Terms: Financial obligations, payment schedules, and currency specifications
7. Performance Obligations: Detailed responsibilities and obligations of each party
8. Termination Rights: Grounds and procedures for termination, including notice periods and consequences
9. Confidentiality: Protection of confidential information and trade secrets
10. Compliance with Laws: Obligation to comply with Saudi laws and Sharia principles
11. Dispute Resolution: Process for resolving disputes under Saudi law, including jurisdiction and applicable courts
12. Notices: Communication procedures and contact details for official notices
13. General Provisions: Standard boilerplate clauses adapted for Saudi law requirements
1. Force Majeure: Include when parties want specific provisions for unforeseen circumstances, particularly relevant for long-term relationships
2. Intellectual Property: Include when the agreement involves IP rights, technology transfer, or licensing
3. Data Protection: Include when personal data processing is involved, ensuring compliance with Saudi data protection regulations
4. Insurance: Include when specific insurance requirements are necessary for the ongoing relationship
5. Change Control: Include when the agreement might require formal procedures for making changes to services/products
6. Service Levels: Include when specific performance metrics need to be maintained throughout the term
7. Audit Rights: Include when ongoing monitoring and verification of compliance is required
8. Local Content Requirements: Include when Saudi local content requirements apply to the subject matter
1. Schedule 1 - Services/Products Description: Detailed specification of services or products covered by the agreement
2. Schedule 2 - Pricing and Payment Terms: Detailed pricing structure, payment schedules, and any price adjustment mechanisms
3. Schedule 3 - Service Levels and KPIs: Performance metrics and measurement criteria
4. Schedule 4 - Contact Details: Key personnel and official contact information for both parties
5. Schedule 5 - Compliance Requirements: Specific Saudi regulatory requirements applicable to the agreement
6. Appendix A - Required Forms: Standard forms for notices, service requests, or other routine communications
7. Appendix B - Technical Specifications: Detailed technical requirements or specifications if applicable
Relevant legal definitions
Clauses
Relevant Industries
Technology
Manufacturing
Healthcare
Professional Services
Energy
Telecommunications
Construction
Retail
Financial Services
Logistics
Education
Defense
Agriculture
Mining
Relevant Teams
Legal
Procurement
Commercial
Finance
Operations
Compliance
Risk Management
Business Development
Supply Chain
Project Management
Contract Administration
Corporate Affairs
Relevant Roles
Legal Counsel
Contract Manager
Commercial Director
Chief Executive Officer
Chief Financial Officer
Procurement Manager
Business Development Manager
Operations Director
Compliance Officer
Risk Manager
General Manager
Country Manager
Supply Chain Manager
Project Manager
Legal Operations Manager
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