The financing company wishing to purchase the debt must inform the customer of the fees and costs associated with the process of purchasing consumer financing debts from individuals.

The financing company wishing to purchase the debt must disclose to the customer the details and costs of the new financing before purchasing the debt and obtain the customer’s documented consent for this.

The financing company wishing to purchase the debt must prepare a specific form for requesting the purchase of consumer financing debts. This form must include all necessary customer data, the date of the request, and all relevant documents and information, including: (proof of the final total amount of the debt issued by the financing company selling the debt, the customer’s acknowledgment, the necessary approvals from all parties for the debt purchase request, clarification of the terms of debt purchase and details of executing the process, requirements for contracting with the customer to grant the financing, including updating data in credit records after the customer’s approval), and any other details necessary for purchasing the debt.

The financing company wishing to purchase the debt must use the Saudi Rapid Payments System ("Sarie") to settle existing debts. The payment made through the "Sarie" system must include, at a minimum, the following information:

The financing company wishing to purchase the debt must provide the customer with the reference number of the payment transaction to facilitate the completion of procedures with the financing company selling the debt.

The financing company wishing to purchase the debt may not charge the customer any costs or fees for transferring the debt, except for early repayment fees or administrative fees.

The financing company wishing to purchase the debt may not allow the customer to use the remaining amount of the financing—after the debt has been purchased—until it has received a release letter from the financing company selling the debt and obtained sufficient guarantees for granting the financing, along with any other regulatory and operational requirements, as applicable. These details must be clarified to the customer before proceeding with the debt purchase, as required by Article (7) of these instructions.