[The preamble clause must be completed by the financier to clarify the offer and acceptance for concluding the contract and in accordance with its form]

1.1- The preamble mentioned above in this contract, the summary of the financing contract, the annexes to the contract, and any statements, conditions, or declarations agreed upon by the parties to be attached to this contract, shall be an integral part of the contract.

1.2 Subject to the nature of the license and the activities practiced by the financier, the provisions of the Banking Control Law and its regulations, the Law on the Control of Finance Companies and its executive regulations, and the instructions issued by the Saudi Central Bank shall apply to all matters not stipulated in this contract. In the event of any conflict between the provisions of the contract and the provisions of the laws and instructions, the provisions of the laws and instructions shall prevail over others.

1, 3- The contract enters into force and its term begins from the date ..../ ..../ .... AH corresponding to ..../..../.... AD, and continues until the total amount due to be paid by the beneficiary is fulfilled or the parties agree otherwise.

2, 3- The obligations of each party under this contract remain in effect until they are fulfilled, the contract is terminated, or one party relieves the other.

• 1, 5- Financing Amount:

  • .............................................. Saudi Riyal,

• 2, 5- Deadline Cost (Profit):

  • The deadline cost (profit) is fixed throughout the contract period at ............% of the financing amount, which equals ..................... Saudi Riyal.

• 3 ,5- Administrative Fees (excluding government taxes):

  • ..............................................

• 4, 5- Annual Percentage Rate (APR):

  • ......................................................%.

• 5, 5- Total Amount Due for Repayment by the Beneficiary:

  • .............................................. Saudi Riyal.

• 1, 6- Each installment of the total amount due from the beneficiary shall be payable on the day [Enter today's date] of each Gregorian month or its equivalent in the Hijri date.

• 2, 6- The installment details are as follows:

• Installment amount:

• ................................................ Saudi Riyals.

• Due date of the first installment: ......./......./.......H (corresponding to ......./......./.......G).

• Due date of the last installment: ......./......./.......H (corresponding to ......./......./.......G).

• Included in Annex No. (1) of the contract is a full statement of the monthly installments due from the beneficiary.

• 3, 6- The beneficiary undertakes to pay the installments to the financier regularly and on the agreed dates according to the installment repayment schedule contained in Annex No. (1) of the contract.

• 4, 6- Without prejudice to clause (3, 6) of this article, the financier may remind the beneficiary of the monthly installment payment date before it is due by means of text messages or emails specified in the contact information for notification purposes as stated in the contract preamble, with a further reminder after the installment becomes due.

• 5, 6- If any amount due from the beneficiary under this contract falls on a non-working day, the beneficiary may pay this amount on the next working day immediately following it.

• 6, 6- The financier may deduct the monthly installment amount - if authorized by the beneficiary to do so - on its due date even if it falls on a non-working day.