Document background
The Simple Agreement of Sale is designed for use in the Saudi Arabian market where commercial transactions must comply with both modern business practices and Islamic Sharia principles. This document type is particularly suitable for straightforward commercial transactions where one party (the seller) agrees to transfer ownership of specific goods or services to another party (the buyer) for an agreed monetary consideration. The agreement incorporates essential elements required under Saudi commercial law, including clear identification of the subject matter, price, payment terms, and delivery arrangements. It is commonly used for both domestic and international transactions where at least one party is operating in Saudi Arabia, and can be adapted for various sectors while maintaining compliance with local regulations. The Simple Agreement of Sale is structured to provide adequate protection for both parties while avoiding unnecessary complexity.
