Book traversal links for المادة الثالثة: التزامات رئيس وكُتّاب السجل
Article Three: Obligations of the Head and Clerks of the Register
No: 99/5884 | Date(g): 29/9/2019 | Date(h): 30/1/1441 |
Translated Document
Effective from 2019-09-29 - Sep 28 2019
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The Head and Clerks of the Contract Register must adhere to the following obligations:
- They are to perform their duties at their place of work, and they may also carry out their duties at the lessor's premises, with the lessor bearing the associated costs.
- Verify the identity of the contracting parties or their representatives based on official documents issued by the competent authority for identity verification.
- Verify the eligibility of the contracting parties or their representatives, and their qualifications to enter into contracts.
- Verify the accuracy of the documents and decisions issued in the Arabic language, and it is permissible to authenticate those issued in a foreign language after being translated into Arabic by an approved translator. The authentication should be done by both the original and translated versions together.
- Hold all contract registers necessary to record transactions and classify them according to what is determined by the Saudi Central Bank.
- Seal and link the bonds in the contract register and their counterparts, in a manner that ensures the integrity of their records and prevents any tampering that might affect their credibility or validity.
- Adhere to the ownership document of the real estate, including the original number of the deed or what requires the lineage of documents that are not accepted without it. The use of electronic means for the authentication of documents is permitted.
- Adhere to the Financing Lease Law and its Executive Regulations, and to any instructions issued by the Saudi Central Bank or the relevant authorities in this matter.