The Standby Credit Agreement serves as a fundamental document in Saudi Arabian banking and commercial transactions, providing a Sharia-compliant mechanism for securing various commercial obligations. It is typically used when a party requires a standby credit as security for performance obligations, payment guarantees, or other commercial undertakings. The agreement must navigate the complex intersection of international banking practices (such as UCP 600 and ISP98) while ensuring compliance with Saudi Arabian law and Sharia principles. The document establishes the relationship between the issuing bank, applicant, and beneficiary, detailing the conditions for issuance and drawing, fee structures (avoiding conventional interest), and related obligations. It is particularly crucial in international trade, project finance, and large commercial transactions where Saudi Arabian entities are involved.
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: Identification of the credit provider (bank), the applicant, and the beneficiary
2. Background: Context of the agreement and relationship between parties
3. Definitions: Key terms used throughout the agreement, including banking and Sharia-compliant terminology
4. Facility Details: Core terms of the standby credit, including amount, purpose, and validity period
5. Issuance Conditions: Prerequisites and conditions for issuing the standby credit
6. Draw-down Conditions: Terms and procedures for beneficiary to draw on the standby credit
7. Fees and Charges: Sharia-compliant fee structure and charges (avoiding interest-based elements)
8. Representations and Warranties: Standard and Sharia-specific representations by the applicant
9. Covenants: Ongoing obligations of the applicant
10. Events of Default: Circumstances constituting default and consequences
11. Indemnity: Applicant's indemnification obligations to the bank
12. Communications: Methods and requirements for formal communications
13. Governing Law and Jurisdiction: Application of Saudi law and jurisdiction of Saudi courts
14. Execution: Signature blocks and execution requirements
1. Security Arrangements: Required when specific collateral or security is provided for the standby credit
2. Counter-Indemnity: Used when additional parties provide backing or support
3. Special Drawing Conditions: Included when there are complex or unusual drawing mechanisms
4. Sharia Board Approval: Required when specific Sharia compliance confirmation is needed
5. Assignment Provisions: Included when transfer rights are contemplated
6. Multiple Currency Provisions: Required for standby credits available in multiple currencies
7. Force Majeure: Detailed force majeure provisions beyond standard terms
8. Anti-Money Laundering: Enhanced AML provisions for high-risk transactions
1. Form of Standby Credit: Template of the actual standby credit to be issued
2. Fee Schedule: Detailed breakdown of all applicable fees and charges
3. Drawing Documents: Forms and requirements for drawing under the standby credit
4. Security Details: Specific details of any security or collateral arrangements
5. Authorized Signatories: List of authorized persons and specimen signatures
6. Sharia Compliance Certificate: Confirmation of Sharia compliance from relevant authorities
7. Form of Draw-down Request: Template for beneficiary's drawing request
8. Conditions Precedent Documents: List of required documents prior to effectiveness
Relevant legal definitions
Clauses
Relevant Industries
Banking & Financial Services
International Trade
Construction & Infrastructure
Energy & Resources
Manufacturing
Real Estate & Development
Telecommunications
Healthcare
Retail & Consumer Goods
Transportation & Logistics
Relevant Teams
Legal
Finance
Treasury
Trade Finance
Compliance
Risk Management
Corporate Banking
Islamic Banking
Credit Administration
Documentation
Commercial Banking
International Banking
Relevant Roles
Chief Financial Officer
Treasury Manager
Trade Finance Manager
Corporate Banking Officer
Legal Counsel
Compliance Officer
Risk Manager
Credit Officer
Islamic Banking Specialist
Documentary Credits Manager
Commercial Finance Director
Project Finance Manager
Transaction Banking Head
Senior Relationship Manager
Find the exact document you need
Standby Letter Of Credit Agreement
A Saudi Arabian law-governed agreement establishing terms for issuing a standby letter of credit, compliant with SAMA regulations and Shariah principles.
Download
Simple Money Lending Agreement
A Sharia-compliant lending agreement under Saudi Arabian law, documenting loan terms and conditions in accordance with Islamic finance principles.
Download
Money Lending Agreement
A Sharia-compliant lending agreement under Saudi Arabian law that establishes terms for loans, including profit structure, repayment, and security arrangements.
Download
Home Equity Line Of Credit Agreement
A Shariah-compliant agreement under Saudi Arabian law enabling property owners to access credit against their home equity, structured according to Islamic banking principles.
Download
Home Equity Line Agreement
A Shariah-compliant home equity financing agreement under Saudi Arabian law, enabling property owners to access financing against their existing property equity while adhering to Islamic banking principles.
Download
Company Credit Card Agreement
A Saudi Arabian law-governed agreement establishing terms for corporate credit card services, incorporating Shariah-compliant principles and SAMA regulations.
Download
Home Credit Agreement
A Shariah-compliant Home Credit Agreement under Saudi Arabian law for residential property financing, meeting Islamic principles and SAMA regulations.
Download
Customer Credit Agreement
A Sharia-compliant credit agreement under Saudi Arabian law establishing terms for providing credit facilities to customers in accordance with Islamic finance principles and SAMA regulations.
Download
Pro Forma Credit Agreement
A Sharia-compliant credit agreement template for Saudi Arabian financial institutions, establishing standardized terms for credit facilities under Saudi law.
Download
Promissory Note Credit Agreement
A Saudi Arabian law-governed credit agreement incorporating a promissory note structure, combining conventional banking practices with Islamic finance principles.
Download
Simple Loan Note Agreement
A Shariah-compliant loan agreement governed by Saudi Arabian law, establishing terms for lending and repayment between parties.
Download
30 Day Credit Agreement
A Sharia-compliant 30-day credit agreement under Saudi Arabian law, establishing terms for short-term business credit facilities.
Download
Credit Term Agreement
A Shariah-compliant Credit Term Agreement under Saudi Arabian law establishing credit facility terms between financial institutions and borrowers.
Download
Credit Default Swap Agreement
A Shariah-compliant Credit Default Swap Agreement under Saudi Arabian law, facilitating credit risk transfer between parties while adhering to Islamic finance principles.
Download
Standby Credit Agreement
A Saudi Arabian law-governed standby credit agreement establishing terms for issuing Sharia-compliant standby credits, compliant with SAMA regulations and Islamic banking principles.
Download
Revolving Credit Facility Agreement
A Shariah-compliant revolving credit facility agreement under Saudi Arabian law, enabling flexible borrowing within an approved limit while maintaining Islamic finance principles.
Download
Term Loan Credit Agreement
A Shariah-compliant term loan agreement under Saudi Arabian law establishing terms for a fixed-term financing facility.
Download
Supplier Credit Agreement
A Shariah-compliant agreement under Saudi Arabian law establishing terms for supplier-extended credit in commercial transactions.
Download
Revolving Credit Promissory Note
A Shariah-compliant promissory note under Saudi law evidencing a revolving credit facility, structured to meet both Islamic finance principles and Saudi banking regulations.
Download
Business Credit Agreement
A Sharia-compliant business credit facility agreement under Saudi Arabian law, establishing terms for commercial financing between a financial institution and a business borrower.
Download
Letter Of Credit Contract
A Sharia-compliant Letter of Credit Contract under Saudi Arabian law, facilitating secure international trade transactions through regulated banking channels.
Download
Creditor Agreement
A Sharia-compliant agreement under Saudi Arabian law establishing the terms and conditions between creditor and debtor, including financing terms, security arrangements, and enforcement mechanisms.
Download
Credit Note Agreement
A Shariah-compliant legal document under Saudi Arabian law establishing terms for issuing a credit note, including payment terms and tax implications.
Download
Credit Application Agreement
A Shariah-compliant credit facility agreement under Saudi Arabian law, establishing terms and conditions between a financial institution and credit applicant.
Download
Revolving Promissory Note
A Saudi Arabian law-governed negotiable instrument evidencing a revolving debt obligation that complies with both Commercial Papers Regulation and Sharia principles.
Download
Credit Purchase Agreement
A Sharia-compliant agreement under Saudi Arabian law governing credit purchase arrangements between financial institutions and purchasers.
Download
Consumer Credit Contract
A Sharia-compliant consumer credit agreement under Saudi Arabian law establishing terms for consumer financing in accordance with SAMA regulations and Islamic principles.
Download
Debt Forgiveness Agreement
A Saudi Arabian law-governed agreement documenting the voluntary forgiveness of debt obligations in compliance with both civil and Sharia law requirements.
Download
Letter Of Credit Agreement
A Saudi Arabian law-governed agreement establishing terms for issuing a letter of credit, compliant with both Sharia and international banking standards.
Download
Credit Support Agreement
A Saudi Arabian law-governed agreement establishing credit support arrangements in compliance with local regulations and Shariah principles.
Download
Consumer Credit Agreement
Saudi Arabian consumer credit agreement compliant with SAMA regulations and Sharia principles, establishing terms for consumer lending.
Download
Credit Facility Letter
A Shariah-compliant credit facility offer document under Saudi Arabian law, outlining financing terms and conditions in accordance with Islamic banking principles and SAMA regulations.
Download
Credit Facilities Agreement
A Shariah-compliant credit facilities agreement under Saudi Arabian law, establishing terms for financing arrangements between lenders and borrowers.
Download
Senior Facilities Agreement
A Shariah-compliant Senior Facilities Agreement governed by Saudi Arabian law, establishing terms for senior debt financing with Islamic finance principles.
Download
Revolving Credit Loan Agreement
A Saudi Arabian law-governed Shariah-compliant revolving credit facility agreement allowing flexible drawdown and repayment of funds under Islamic financing principles.
Download
Line Of Credit Agreement
A Shariah-compliant Line of Credit Agreement under Saudi Arabian law establishing a revolving credit facility between a financial institution and borrower, detailing terms, conditions, and Islamic financing principles.
Download
Credit Loan Agreement
A Shariah-compliant credit loan agreement under Saudi Arabian law, establishing terms and conditions for financing between lender and borrower.
Download
Revolving Credit Agreement
A Shariah-compliant Revolving Credit Agreement under Saudi Arabian law, providing flexible financing through Islamic banking structures while ensuring compliance with local regulations and religious principles.
Download
Credit Sale Agreement
A Shariah-compliant credit sale agreement under Saudi Arabian law, establishing terms for asset sale with deferred payment structure.
Download
Credit Assignment Agreement
A Shariah-compliant agreement under Saudi Arabian law for transferring credit rights from an Assignor to an Assignee, including all associated rights and obligations.
Download
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)