The Loan Agreement Between Family template is specifically designed for use in Saudi Arabia where family members wish to formalize financial lending arrangements while ensuring compliance with both Sharia principles and Saudi civil law. This document is particularly useful when family members need to document substantial loans for purposes such as education, business startup, property purchase, or personal needs. The agreement template includes provisions for interest-free lending (Qard Hasan), clear repayment terms, default provisions, and family-oriented dispute resolution mechanisms. It's structured to maintain the balance between legal enforceability and preserving family relationships, while ensuring alignment with Saudi Arabia's Islamic banking regulations and civil transaction laws. The document can be customized based on the loan amount, purpose, and specific family circumstances, while maintaining its core Sharia-compliant nature.
Your data doesn't train Genie's AI
You keep IP ownership of your information
Thank you! Your submission has been received!
Oops! Something went wrong while submitting the form.
OR
Let Ƶ's market-leading legal AI identify missing terms, unusual language, compliance issues and more - in just seconds.
1. Parties: Identifies the family members involved as lender and borrower, including their full legal names, addresses, and relationship to each other
2. Background: Explains the context of the family loan, the relationship between parties, and confirms the loan is made in good faith and compliance with Sharia principles
3. Definitions: Defines key terms used in the agreement, including 'loan amount', 'repayment date', and any specific terms relevant to the arrangement
4. Loan Details: Specifies the principal amount, purpose of the loan, and confirms it is provided on an interest-free basis (Qard Hasan)
5. Repayment Terms: Details the repayment schedule, method of payment, and any agreed installment amounts
6. Representations and Warranties: Statements by both parties confirming their capacity to enter into the agreement and that the loan is Sharia-compliant
7. Default Provisions: Outlines what constitutes a default and the consequences, while maintaining sensitivity to family relationships
8. Termination: Describes circumstances under which the agreement can be terminated and the process for doing so
1. Security: Optional section for cases where collateral or security is provided for the loan
2. Death or Incapacity: Provisions for handling the loan in case of death or incapacity of either party
3. Gift (Hibah) Provisions: Optional clause allowing for part or all of the loan to be converted to a gift under certain circumstances
4. Witness Requirements: Additional section for including witness details when required for larger loan amounts
5. Family Mediation Process: Detailed procedures for family-based dispute resolution before resorting to legal action
6. Zakat Considerations: Clarifications regarding Zakat obligations related to the loan amount
1. Schedule 1 - Repayment Schedule: Detailed breakdown of repayment dates and amounts if being paid in installments
2. Schedule 2 - Security Details: Description of any assets or securities provided as collateral (if applicable)
3. Appendix A - Family Resolution Committee: List of designated family members who will act as mediators in case of disputes
4. Appendix B - Loan Purpose Documentation: Supporting documents explaining the purpose and intended use of the loan funds
Relevant legal definitions
Clauses
Relevant Industries
Personal Banking
Islamic Finance
Family Business
Private Wealth Management
Real Estate
Education Finance
Healthcare Finance
Small Business
Agricultural Finance
Relevant Teams
Legal
Sharia Compliance
Private Banking
Wealth Management
Risk Management
Document Management
Family Office
Islamic Banking
Personal Banking
Advisory Services
Relevant Roles
Legal Counsel
Sharia Compliance Officer
Family Office Manager
Wealth Manager
Financial Advisor
Islamic Banking Specialist
Personal Banking Manager
Contract Administrator
Risk Management Officer
Family Business Advisor
Private Client Manager
Document Controller
Find the exact document you need
Selling Real Estate Contract
A Saudi Arabian real estate sales contract template compliant with local laws and Sharia principles, facilitating property transfers and ensuring regulatory compliance.
find out more
Wholesaling Real Estate Contract
A Saudi Arabia-compliant wholesale real estate contract governing bulk property transactions under local law and Shariah principles.
find out more
Non Binding Agreement
A non-binding agreement template for use under Saudi Arabian jurisdiction, combining Sharia law principles with modern commercial practices to document parties' intentions without creating legal obligations.
find out more
Non Compete Form
A Saudi Arabian legal document restricting post-employment competitive activities, governed by Saudi Labor Law and Sharia principles.
find out more
Agreement For Job Work
A Saudi Arabian law-governed agreement between client and contractor defining terms and conditions for specific job work or project-based services.
find out more
Non Disclosure Form
Saudi Arabia-compliant Non-Disclosure Agreement template for protecting confidential information exchange under Saudi law and Shariah principles.
find out more
Videography Contract
A Saudi Arabian law-governed agreement for professional videography services, ensuring compliance with local regulations while defining service terms and deliverables.
find out more
Subscription Agreement
A Saudi law-governed agreement establishing terms for subscription-based services, compliant with local regulations and Shariah principles.
find out more
Production Contract
A Saudi Arabian law-governed agreement establishing terms and conditions for manufacturing or production activities, ensuring compliance with local regulations and Sharia principles.
find out more
Novation Agreement (Real Estate)
A Saudi Arabian law-governed agreement transferring real estate contract rights and obligations from one party to another, ensuring compliance with Shariah principles and local property regulations.
find out more
Option Contract (Real Estate)
A Sharia-compliant agreement under Saudi Arabian law granting the right to purchase specified real estate at predetermined terms within an agreed timeframe.
find out more
Labor Contract
A Saudi Arabian employment agreement that establishes terms and conditions of employment while ensuring compliance with Saudi Labor Law and regulations.
find out more
Franchise Agreement
A Saudi Arabian law-governed agreement establishing a franchise relationship, granting business operational rights while ensuring compliance with local regulations and Sharia principles.
find out more
Common Agreement
A general-purpose legal agreement template compliant with Saudi Arabian law and Sharia principles, suitable for establishing business relationships in Saudi Arabia.
find out more
Barter Agreement
A Saudi Arabian law-governed agreement facilitating the direct exchange of goods/services between parties, structured to comply with both Sharia and commercial law requirements.
find out more
Unregistered Sale Agreement With Possession
A Saudi Arabian agreement facilitating property sale and possession transfer without immediate registration, compliant with local law and Sharia principles.
find out more
Master Contract
A Saudi law-governed framework agreement establishing terms for ongoing business relationships, compliant with Shariah principles and local regulations.
find out more
Notarial Contract
A legally authenticated contract under Saudi Arabian law, officially verified and certified by a licensed notary public, providing enhanced legal security and evidential value.
find out more
House Rent Agreement Form
A Saudi Arabian residential lease agreement that establishes rental terms between landlord and tenant, compliant with local laws and Ejar system requirements.
find out more
Partnership Agreement Form
A Saudi Arabian law-governed agreement establishing and regulating a business partnership, ensuring compliance with local regulations and Sharia principles.
find out more
Landscape Contract
A Saudi Arabian law-governed contract for landscape construction and maintenance services, including works specifications and environmental compliance requirements.
find out more
Guarantee Contract
A Saudi Arabian law-governed contract where a guarantor assumes responsibility for another party's obligations to a beneficiary, structured in compliance with Sharia principles and local commercial laws.
find out more
Tenancy Agreement Form
A Saudi Arabian lease agreement template that establishes property rental terms between landlord and tenant, compliant with Saudi Tenancy Law and Sharia principles.
find out more
Simple Rental Agreement Form
A Saudi Arabia-compliant rental agreement template for residential and commercial properties, incorporating local legal requirements and Shariah principles.
find out more
Money Agreement Between Two Parties
A Sharia-compliant money agreement under Saudi Arabian law establishing financial arrangements between two parties with specific terms and conditions.
find out more
Side Agreement
A supplementary agreement under Saudi Arabian law that modifies or adds to the terms of a primary agreement while ensuring Shariah compliance.
find out more
Novation Contract
A Saudi Arabian law-governed agreement transferring contractual rights and obligations from one party to another, with consent of all parties involved.
find out more
Mutual Agreement Between Two Parties
A bilateral agreement template compliant with Saudi Arabian law and Sharia principles, establishing mutual rights and obligations between two contracting parties.
find out more
Contract For Selling A Car
A Saudi Arabian law-compliant agreement for the sale and transfer of vehicle ownership, incorporating local regulatory requirements and Sharia principles.
find out more
Business Transfer Agreement
A Saudi law-governed agreement for transferring business ownership, including assets, liabilities, and operational elements from one entity to another.
find out more
Tooling Agreement
A Saudi Arabian law-governed agreement establishing terms for industrial tooling supply, ownership, and usage, compliant with local commercial and Sharia law requirements.
find out more
Representation Agreement
A Saudi law-governed agreement establishing the terms and conditions for commercial representation between a principal company and its Saudi representative.
find out more
Notary Rent Agreement
A notarized rental agreement compliant with Saudi Arabian law and Ejar system requirements, establishing terms for property lease.
find out more
Non Compete Agreement Between Companies
A Saudi Arabian law-compliant agreement restricting competitive activities between companies within specified parameters and timeframes.
find out more
Land Agreement Between Two Parties
A Saudi Arabian land agreement document that formalizes property rights transfer between two parties, compliant with Sharia law and local regulations.
find out more
Buyer Agency Agreement
A Saudi Arabian law-governed agreement establishing the relationship between a property buyer and their real estate agent, outlining services, obligations, and compensation terms.
find out more
Commercial Lease Form
A Saudi Arabian commercial lease agreement template that establishes terms for leasing business properties, compliant with local laws and Shariah principles.
find out more
Vending Machine Contract
A Saudi Arabia-governed agreement for vending machine installation and operation, compliant with local commercial law and Sharia principles.
find out more
Contra Agreement
A Saudi Arabian law-governed agreement facilitating the exchange of goods/services between parties without primary monetary consideration, compliant with Sharia and local commercial regulations.
find out more
Catering Contract
A Saudi Arabian law-governed agreement establishing terms for catering services provision, incorporating local regulatory requirements and Halal compliance.
find out more
ұԾ’s Security Promise
Genie is the safest place to draft. Here’s how we prioritise your privacy and security.
Your documents are private:
We do not train on your data; ұԾ’s AI improves independently
All data stored on Genie is private to your organisation
Your documents are protected:
Your documents are protected by ultra-secure 256-bit encryption
We are ISO27001 certified, so your data is secure
Organizational security:
You retain IP ownership of your documents and their information
You have full control over your data and who gets to see it
.png)