This Financial Agreement Between Two Parties serves as a foundational document for establishing formal financial arrangements in Saudi Arabia. It is specifically designed for use when two parties need to document financial obligations, payment terms, and related conditions in compliance with both Saudi law and Sharia principles. The document is commonly used for various financial transactions including investments, profit-sharing arrangements, asset purchases, and financing agreements. It incorporates essential elements required by Saudi Arabian banking regulations, the Commercial Courts Law, and Islamic financial principles, making it suitable for both domestic and international parties operating within Saudi jurisdiction. The agreement includes comprehensive provisions for financial terms, risk management, dispute resolution, and regulatory compliance, while maintaining flexibility to accommodate specific transaction requirements.
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1. Parties: Full legal identification of both parties, including registration details and addresses
2. Background: Context of the agreement and relationship between parties
3. Definitions: Key terms used throughout the agreement, including financial and technical terms
4. Purpose and Scope: Clear statement of the financial arrangement's purpose and scope
5. Financial Terms: Core financial obligations, payment terms, and Sharia-compliant profit arrangements
6. Payment Mechanics: Detailed process for making and receiving payments, including timing and method
7. Representations and Warranties: Statements of fact and assurances from both parties
8. Covenants: Ongoing obligations of both parties during the agreement term
9. Events of Default: Circumstances constituting default and consequences
10. Termination: Conditions and process for ending the agreement
11. Governing Law and Jurisdiction: Explicit reference to Saudi law and Sharia principles
12. Notices: Communication procedures between parties
13. Counterparts and Execution: Signing requirements and validity of copies
1. Security and Collateral: Include when the agreement involves pledged assets or security
2. Islamic Finance Compliance Statement: Detailed section needed when agreement requires explicit Sharia compliance verification
3. Third Party Rights: Include when other parties have rights under the agreement
4. Assignment and Transfer: Include when rights/obligations may be transferred
5. Force Majeure: Include for long-term financial commitments
6. Confidentiality: Include when sensitive financial information is involved
7. Tax Provisions: Include when tax implications need specific addressing
8. Currency Provisions: Include for cross-border transactions or multiple currency handling
1. Schedule 1 - Payment Terms: Detailed breakdown of payment amounts, dates, and calculation methods
2. Schedule 2 - Form of Notice: Template forms for various notices under the agreement
3. Schedule 3 - Security Details: Details of any collateral or security arrangements
4. Schedule 4 - Conditions Precedent: List of documents and conditions required before agreement becomes effective
5. Schedule 5 - Calculation Methods: Detailed methodology for calculating profits, payments, or adjustments
6. Appendix A - Required Documents: List of supporting documents from both parties
7. Appendix B - Compliance Certificates: Templates for periodic compliance certification
8. Appendix C - Shariah Approval: Relevant Shariah board approvals or certifications
Relevant legal definitions
Clauses
Relevant Industries
Banking
Financial Services
Real Estate
Manufacturing
Trading
Construction
Technology
Healthcare
Energy
Retail
Professional Services
Transportation
Agriculture
Mining
Relevant Teams
Legal
Finance
Compliance
Treasury
Risk Management
Commercial Operations
Corporate Affairs
Investment
Business Development
Operations
Contracts Administration
Islamic Banking
Account Management
Relevant Roles
Chief Financial Officer
Finance Director
Legal Counsel
Compliance Officer
Treasury Manager
Investment Manager
Commercial Director
Contract Manager
Risk Manager
Financial Controller
Business Development Manager
Corporate Lawyer
Sharia Compliance Officer
Account Manager
Operations Director
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