Payment Terms Agreement Template for Saudi Arabia

1. Electronic Payment Provisions: Specific terms for electronic payment methods, used when parties agree to use digital payment systems

2. Currency Exchange: Terms for handling multiple currencies, included when international payments are involved

3. Security Provisions: Terms for payment security or guarantees, used when additional payment security is required

4. Volume Discounts: Terms for volume-based payment adjustments, included when applicable to the business relationship

5. Payment Priorities: Hierarchy of payment application, used when multiple payment obligations exist

6. Force Majeure: Provisions for payment obligations during unexpected events, included when specific risks need addressing

7. Advance Payment Terms: Conditions for advance payments, used when prepayments are part of the arrangement

8. Third-Party Payments: Terms for accepting payments from or making payments to third parties, when relevant

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

2. Price List: Itemized list of prices or rates applicable to the agreement

3. Bank Account Details: Banking information for approved payment methods

4. Invoice Template: Standard format for invoices including required information

5. VAT Requirements: Detailed VAT compliance requirements and procedures

6. Authorized Signatories: List of persons authorized to approve payments or payment changes

7. Service Level Agreement: Performance metrics affecting payment terms, if applicable