Damage Settlement Agreement Template for Saudi Arabia

1. Non-Admission of Liability: Statement that settlement does not constitute admission of fault or liability

2. Insurance Provisions: Include when insurance companies are involved in the settlement

3. Third Party Rights: Required when the settlement affects rights of parties not directly involved in the agreement

4. Future Claims: Provisions regarding potential future claims related to the same incident

5. Tax Implications: Include when settlement amount has significant tax consequences

6. Dispute Resolution: Alternative dispute resolution mechanisms if parties wish to specify alternatives to court proceedings

1. Schedule 1 - Damage Assessment Report: Detailed documentation of damages including photos, expert reports, and valuations

2. Schedule 2 - Payment Schedule: Detailed payment terms if installment payments are agreed

3. Schedule 3 - Supporting Documents: Copies of relevant documents such as accident reports, police reports, or medical reports

4. Schedule 4 - Insurance Documentation: Relevant insurance policies and correspondence if insurance is involved

5. Appendix A - Power of Attorney: If any party is acting through an authorized representative

6. Appendix B - Corporate Authorizations: Required corporate approvals if any party is a corporate entity