Deputy Governor

No.: 6876/BC/213

Date: 9-6-1410 H

Circular to all Banks Operating in the Kingdom

Greetings,

Reference our circular No. 15361/BC/307 dated 19-11-1405 H (5-8-1985A.D) regarding the samples of bill of exchange and promissory notes prepared by the Ministry of Commerce for guidance.

The Ministry of Commerce has noticed that the bills of exchange and promissory notes used by banks do not fulfill the conditions stated in the Commercial Papers Law, and, as a result, the banks are loosing cases connected with such Commercial Papers. The Ministry, therefore, has prepared two forms for bills of exchange and promissory notes and recommended their use.

We attach herewith copy of the bill of exchange and promissory note for guidance.

Regards,

Deputy Governor

J. A. Al-Suhaimi

Kingdom of Saudi Arabia

Ministry of Commerce

Bill of Exchange

Place and date of issue_______________________amount______________ to_________________ Drawee____________________

Address______________________________________________________________

Pay by this promissory note to(beneficiary) The above sum of on______________ (maturity date) Bearer has the right of recourse free of expenses and protest

Drawer's signature:_______________________________

Name:______________________________

Address:_________

Accepted as provisional guarantee

Name of guarantor______________________signature______________________

Address_______________________________

Promissory Note

Place and date of issue_________________________________amount ______________

I hereby undertake to pay by this promissory note to _______________________________(beneficiary) the above sum of_________________________

on ______________________(maturity date) Bearer has the right of recourse free of expenses and protest

Drawer's signature:.__________________________________

Name:___________________________________

Address:_____________________________

Signature of Issuer:_____________________

Name:_____________________

Address:_____________________

Accepted as provisional guarantee

Name of guarantor______________ signature___________________

Address _________________