Skip to main content

Form (1) Procedures for Selling Agricultural Certificates

Effective from Jan 30 2025 - Mar 11 1996
To view other versions open the versions tab on the right

The procedure is as follows:

  1. The farmer submits the original certificate to the bank along with a copy of the ID and the original for verification.
  2. The certificate holder fills out the Farmer Data Form (Form No. 2-5) himself, and the bank must ensure that the farmer's data is correct and matches the certificate.
  3. When the farmer agrees to the bank's price offer, he must fill out the sales contract (Farmer Form 2-4) and make sure that the data contained therein is correct according to the documents provided.
  4. After the contract is signed by the farmer, the bank employee verifies his signature and certifies it in the specified box, after which the bank employee issues a receipt to the farmer to receive his dues.
  5. At the end of the day, the bank employee fills out the list of farmers' certificates purchased by the banks (Farmer Form 2-3), along with the originals of the certificates and all contracts and forms that were filled out, in addition to copies of the sellers' IDs, and then delivers it to the Saudi Share Registration Company, which in turn signs it and hands the bank representative a copy of the statement showing the date of receipt of the new notices.
  6. The farmer must visit the bank according to the specified date to receive the value of the sale of the certificate, and the original receipt must be presented to the bank employee to confirm the identity of the recipient, in case there are no notes on the certificate by the Saudi Share Registration Company.
  7. Upon completion of the above steps, the agreed value will be delivered to the new owner.

(Note that the Saudi Share Registration Company charges a sum of one hundred riyals (100 riyals) from the buyer for each ownership transfer).