Document background
This 30 Day Credit Agreement is designed for use in commercial transactions within Saudi Arabia where one party wishes to extend short-term credit facilities to another. The document is particularly relevant for business-to-business transactions requiring payment terms of 30 days. It ensures compliance with Saudi Arabian law, including both Sharia principles and commercial regulations, while protecting the interests of both the credit provider and the recipient. The agreement includes essential provisions for credit limits, payment obligations, default consequences, and dispute resolution mechanisms. It is structured to meet the requirements of the Saudi Arabian Monetary Authority (SAMA) and incorporates necessary provisions from the Commercial Courts Law and Islamic finance principles. This template is suitable for various commercial sectors and can be customized based on specific business requirements while maintaining its core Sharia-compliant nature.
