Document background
This Cost Fixed Fee Contract template is designed for use in the Saudi Arabian market where parties wish to establish a clear, predetermined payment structure for well-defined services or projects. The document is particularly suitable for situations where the scope of work can be clearly defined and quantified, allowing for accurate cost estimation. It incorporates essential elements required under Saudi law and Sharia principles, including provisions for dispute resolution, force majeure, and payment terms that comply with Islamic financing principles. The contract addresses key considerations such as local content requirements, Saudization policies, and the need for Arabic language versions where required by law. This template is structured to protect both parties' interests while ensuring enforceability under Saudi jurisdiction, making it suitable for both domestic and international business relationships.
