Chapter Five: Final Provisions
Article Nineteen
The Contract Registration Company must record and file all requests received from lessors regarding requests for issuing extract of executive document and the outcomes thereof, in an organized manner.
Article Twenty
The lessor must develop internal policies and procedures that align with these regulations and procedures, and that do not conflict with the applicable laws and instructions.
Article Twenty-One
The lessor and Contract Registration Companies must fully comply with these regulations and procedures, in addition to the applicable laws, regulations, and instructions issued by relevant authorities. Neither the lessor nor the Contract Registration Company is exempt from compliance in case of non-adherence.
Article Twenty-Two
These regulations and procedures are subject to updates and amendments as needed.
Article Twenty-Three
These regulations and procedures invalidate the lessor’s right to recover movable assets in financing lease contracts issued by SAMA under Circular No. 99/9926 dated 16/2/1441 H.