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Form (2) Procedures for Waiver of Agricultural Certificates

No: 161000000582 Date(g): 12/3/1996 | Date(h): 22/10/1416

Translated Document

The procedure is as follows:

  1. The farmer submits the original certificate to the bank along with a copy of his 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. After verifying the certificate data, the bank provides the farmer with the first degree waiver document (Farmer Form 2-6) to fill it out and then verify the data contained therein based on the documents provided.
  4. The bank certifies the signatures of the waiver, after which the bank employee will issue a receipt to receive the new notice.
  5. At the end of the day, the bank employee fills out the statement of the relinquished farmers' certificates (Farmer Form 3-2), along with the originals of the certificates and all the 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 indicating the date of receipt of the new certificates.
  6. On the date of receipt of the new notice, the bank employee will receive the original audit receipt and 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 new notice will be delivered to the new owner.

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