The Seller and Buyer Agreement is a fundamental commercial document used in Saudi Arabia to formalize sales transactions between parties. This document is essential for both business-to-business and business-to-consumer transactions, providing a legally binding framework that complies with Saudi Arabian law and Sharia principles. It is particularly important in the Saudi Arabian context where commercial transactions must align with both modern business practices and Islamic legal requirements. The agreement typically includes detailed provisions for the sale of goods or services, payment terms, delivery conditions, warranties, and dispute resolution mechanisms. It serves as a critical tool for risk management and clear documentation of the parties' obligations, while ensuring compliance with local regulations, including the Commercial Courts Law, Anti-Commercial Fraud Law, and relevant consumer protection regulations.
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1. Parties: Identification of seller and buyer with full legal names, addresses, and commercial registration details
2. Background: Context of the transaction and relationship between the parties
3. Definitions: Definitions of key terms used throughout the agreement
4. Subject Matter of Sale: Detailed description of goods or assets being sold
5. Purchase Price and Payment Terms: Price, payment schedule, and method of payment in compliance with Sharia principles
6. Delivery and Transfer of Title: Terms and conditions for delivery, transfer of ownership, and risk
7. Warranties and Representations: Warranties by both parties regarding the transaction, goods, and their authority
8. Inspection and Acceptance: Process and timeframe for inspection and acceptance of goods
9. Term and Termination: Duration of agreement and circumstances for termination
10. Dispute Resolution: Sharia-compliant dispute resolution procedures and jurisdiction
11. Governing Law: Specification of Saudi law and Sharia principles as governing law
12. Execution: Signature blocks and execution requirements
1. Intellectual Property Rights: Required when the sale involves goods with associated intellectual property
2. Confidentiality: Needed when transaction involves sensitive commercial information
3. Insurance: Required for high-value goods or when specific risks need to be covered
4. Force Majeure: Recommended for long-term or complex transactions
5. Export/Import Compliance: Required for international sales or regulated goods
6. After-Sales Service: Needed when ongoing support or maintenance is part of the deal
7. Training and Support: Required when product requires special training or technical support
8. Return and Refund Policy: Important for retail or consumer transactions
1. Product Specifications: Detailed technical specifications of goods being sold
2. Price List: Detailed breakdown of prices for multiple items or pricing structure
3. Delivery Schedule: Timeline and logistics details for delivery of goods
4. Quality Standards: Specific quality requirements and standards to be met
5. Warranty Terms: Detailed warranty conditions and procedures
6. Required Certifications: Copies of necessary certifications and compliance documents
7. Payment Schedule: Detailed payment milestones and terms if involving installments
8. After-Sales Service Terms: Detailed terms of any after-sales service or support
Relevant legal definitions
Clauses
Relevant Industries
Retail
Manufacturing
Technology
Consumer Goods
Industrial Equipment
Automotive
Electronics
Construction Materials
Medical Equipment
Food and Beverage
Textiles
Agriculture
Real Estate
Energy
Telecommunications
Relevant Teams
Legal
Sales
Procurement
Commercial
Operations
Finance
Compliance
Risk Management
Supply Chain
Business Development
Contract Administration
Relevant Roles
Sales Manager
Procurement Manager
Commercial Director
Legal Counsel
Contracts Manager
Business Development Manager
Supply Chain Manager
Operations Manager
Chief Commercial Officer
Compliance Officer
Risk Manager
General Manager
Finance Manager
Managing Director
Project Manager
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