Car Loan Security Agreement Template for Saudi Arabia

1. Co-Borrower Provisions: Additional terms when there is a co-borrower or guarantor

2. Commercial Use Provisions: Additional terms if the vehicle is for commercial/business use

3. Cross-Default Provisions: Links to other financing agreements with the same lender

4. Special Purpose Vehicle Use: Additional restrictions for specific vehicle types or uses

5. Islamic Finance Structure Details: Detailed explanation of the specific Islamic finance structure used (e.g., Murabaha)

6. Assignment and Transfer: Terms allowing the lender to assign or transfer its rights

7. Electronic Communications: Terms governing electronic notices and communications

1. Vehicle Specification Schedule: Detailed technical specifications and condition report of the vehicle

2. Payment Schedule: Detailed breakdown of payment amounts and due dates

3. Insurance Requirements Schedule: Specific insurance coverage requirements and minimum terms

4. Vehicle Registration Documents: Copies of registration cards and ownership documents

5. Required Authorizations: List of required permits and authorizations for vehicle operation

6. Property Insurance Certificate: Copy of valid insurance certificate and policy details

7. Shariah Approval: Confirmation of Shariah compliance from authorized scholars

8. Power of Attorney: Standard form of power of attorney for vehicle-related matters