The following terms and phrases, wherever mentioned herein, shall have the meanings assigned thereto unless the context otherwise requires:

SAMA : Saudi Central Bank.

Instructions: Instructions for Handling Promissory Notes.

Financing Entity: Banks, and financing companies are subject to supervision and regulation of SAMA.

Customer: An individual or legal entity receiving a financing product from a financing entity.

Default: The failure of the customer to pay the agreed-upon monthly installments in the financing contract for three consecutive months, or for more than five non-consecutive months during the financing period, or as stipulated in the financing contract for non-monthly payments.

Third Party: An entity contracted to perform services on behalf of the financing entity that were previously carried out by the financing entity or to provide a new service intended for implementation. This may be a unit within the financing entity, an affiliated company, or an independent company.

Documented Communication: A recorded means of communication that can be verified and retrieved in written or electronic form.

2.1. These instructions aim to set the minimum requirements that financing entities must adhere to when handling promissory notes.

2.2. These instructions shall not prejudice the provisions set forth in related instructions, including but not limited to the following:

- Debt Collection Regulations and Procedures for Individual Customers issued under SAMA Circular No. (39100008334) dated 26/07/1439H*.

- Model Contract of the Financial Lease of Vehicles for Individuals issued under SAMA Circular No. (41038534) dated 01/06/1441 H.

- Mortgage Finance Model Contract for Individuals in Murabaha and Ejarah issued under SAMA Circular No. (41038504) dated 01/06/1441 H.

-Rules on Outsourcing for Finance Companies issued under SAMA Circular No. (65338/99) dated 07/05/1440 H.

- First Update to the Instructions for Rules on Outsourcing issued under SAMA Circular No. (41027017) dated 18/04/1441 H.

- Controls on the Signatures of Customer on the Bonds of the Order Without Data (Blank) in Exchange for Access to Banking Facilities  issued under SAMA Circular No. (271000000743) dated 19/12/1427 H.

- SAMA Circular No. (41044391) dated 25/06/1441 H concerning the "Nafith" Electronic Platform Approved by the Ministry of Justice.

- SAMA Circular No. (41045412) dated 01/07/1441 H concerning the "Nafith" Electronic Platform Approved by the Ministry of Justice.

*These regulations have been replaced by the updated Debt Collection Regulations and Procedures for Individual Customers in accordance with circular No. (106889333), dated 06/09/1446H, corresponding to 05/03/2025G.