Article Seven
| No: 42039135 | Date(g): 25/1/2021 | Date(h): 12/6/1442 | Status: In-Force |
Translated Document
Upon receiving the lessor’s request for the issuance of the extract of the enforcement instrument for the recovery of the movable asset, and verifying the lessor’s right to do so, the contract registration company shall carry out the following procedures:
1. Issue the extract of the enforcement instrument, including the contract number and date, place of payment, place of issuance, date of the extract, name of the lessor, name of the lessee, amount due, and current installments.
2. Notify one of the specialized companies – chosen by the lessor – of the lessee’s breach of contract terms and the lessor’s desire to recover the movable asset, providing it with all the details of the movable asset according to the form approved by the contract registration company.