Contract Agreement Payment Terms Template for Saudi Arabia

1. Force Majeure: Used when parties want to address payment obligations during extraordinary circumstances

2. Currency Exchange: Include when payments involve multiple currencies

3. Third-Party Payments: Required when payments may be made by or to third parties

4. Security Provisions: Include when payment security or guarantees are required

5. Electronic Payment Systems: Detailed when specific electronic payment platforms or systems are mandated

6. Advance Payments: Include when the agreement involves upfront or advance payments

7. Set-off Rights: Used when parties want to establish rights to set off mutual payment obligations

8. Performance Guarantees: Include when payment is linked to performance guarantees or bonds

1. Payment Schedule: Detailed breakdown of payment amounts, dates, and milestones

2. Bank Account Details: Complete banking information for all parties

3. Invoice Template: Standard format for invoices including required fields

4. Tax Forms: Required tax documentation and forms

5. Performance Metrics: If payments are linked to performance, detailed metrics and measurement criteria

6. Currency Exchange Mechanisms: Where applicable, detailed procedures for currency conversion

7. Required Documentation: List of documents required for payment processing

8. Authorized Signatories: List of persons authorized to approve payments and payment-related documents