Your access and use of SAMA Regulatory Rulebook and its content is considered as an acceptance and approval of commitment by you without any limitation or condition to the following:
SAMA Regulatory Rulebook is a platform that aims to assist the regulated entities to access SAMA regulatory content adeptly and efficiently.
SAMA Regulatory Rulebook is still on its development and soft launch stage. SAMA is not liable for its contents and does not warrant or represent that (the Services related to the platform, information or material presented in the platform) is displayed free of any inaccuracies, omissions, or errors (“Faults”). SAMA accepts no liability for any loss, claim or damage resulting from any use of the platform, and any decisions made, or actions taken based on the information contained in or generated by the platform.
SAMA Regulatory Rulebook has no legal effect and it does not aim to amend or revoke any legal provisions. The Rulebook still Contains some documents under review, including translated versions. Therefore, SAMA Regulatory content circulated through SAMA official channels remains in force.
Without prejudice to the terms of use of SAMA website Hereby, you acknowledge that any illegal, unauthorized use and/or any breach of any of these provisions may result in legal actions against you.
Article 4: Financing Contracts and Guarantee Agreements
No: 351000116619
Date(g): 7/7/2014 | Date(h): 10/9/1435
Status: In-Force
A Financing Contract or Guarantee Agreement must be in the form of-
a written contract document signed by the Borrower or Guarantor and the Creditor; or
a written contract document signed by the Creditor and constituting an offer to the Borrower that is accepted in writing by the Borrower.
All Financing Contracts, application forms, Guarantee Agreements, repayment schedules, Borrower acknowledgement letter and other documentation related to Consumer Financing must be in Arabic and if the Borrower requests that documentation be prepared in English, the documentation shall be prepared in both languages. The Creditor must provide copies thereof to the Borrower. In the event of a divergence between the Arabic and the English text of any such document, the Arabic text prevails.
Each contracting party must receive a copy of the Financing Contract or Guarantee Agreement (as the case may be).
