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An Affidavit and Indemnity Agreement combines two crucial legal tools in Saudi business transactions. It pairs a sworn statement (affidavit) with a promise to protect against losses (indemnity), creating a powerful safeguard in situations like lost documents, property transfers, or disputed claims.

Under Saudi commercial law, these agreements help businesses manage risk and resolve common challenges. For example, when a company loses original trade documents, they can use this agreement to continue operations while protecting other parties from potential future claims. Banks and financial institutions in the Kingdom often require these agreements before processing certain transactions or releasing assets.

You need an Affidavit and Indemnity Agreement when dealing with lost or damaged original documents in Saudi business operations. Common scenarios include misplaced share certificates, destroyed commercial licenses, or missing customs documentation. This agreement lets you proceed with urgent transactions while protecting all parties involved.

Saudi banks typically require these agreements for processing replacements of lost bank guarantees or handling inheritance matters. They're also essential when transferring property rights without complete documentation, restructuring business ownership, or resolving disputes over missing trade documents. The agreement becomes particularly valuable during mergers and acquisitions when original corporate records are incomplete.

• Basic Lost Document Agreement: Covers straightforward cases of missing paperwork, with standard indemnity provisions under Saudi commercial law
• Corporate Transaction Indemnity: Features expanded protection clauses for complex business deals and ownership transfers
• Banking and Financial Services Version: Contains specific provisions required by Saudi banks for lost financial instruments or guarantees
• Property Transfer Variation: Includes additional clauses for real estate transactions and title transfers in the Kingdom
• Inheritance-Related Agreement: Specialized format addressing missing documentation in Shariah-compliant estate settlements

• Corporate Legal Departments: Draft and review these agreements to protect company interests during document loss or business transfers
• Banks and Financial Institutions: Require these agreements when processing replacement documents or handling lost financial instruments
• Business Owners: Sign as primary parties when dealing with lost corporate documents or ownership transfers
• Licensed Saudi Lawyers: Prepare and validate agreements to ensure compliance with local regulations
• Government Authorities: Accept these agreements as supporting documentation for administrative procedures and regulatory compliance
• Corporate Shareholders: Execute these agreements during ownership restructuring or lost share certificate cases

• Document Details: Gather specifics about the lost or missing document, including reference numbers, dates, and original issuing authority
• Party Information: Collect full legal names, addresses, and commercial registration numbers of all involved parties
• Loss Circumstances: Document clear details about how and when the original document was lost or destroyed
• Indemnity Scope: Define exactly what losses or damages will be covered under Saudi law
• Supporting Evidence: Prepare any available proof of original document existence, like copies or related correspondence
• Authentication Plan: Arrange for proper notarization and attestation by authorized Saudi authorities

• Party Identification: Complete legal names and details of all parties, including commercial registration numbers under Saudi law
• Document Description: Precise details of the lost/missing document and circumstances of loss
• Sworn Statement: Clear affidavit section declaring facts under oath, compliant with Shariah principles
• Indemnity Terms: Specific protection promises and compensation scope
• Duration Clause: Clear timeframe for the agreement's validity
• Governing Law: Express reference to Saudi law and jurisdiction
• Authentication Section: Space for official stamps and notary attestation
• Signature Block: Properly formatted areas for all required signatories

While both documents deal with legal protection, an Affidavit and Indemnity Agreement differs significantly from a simple Affidavit. Here are the key distinctions:

• Legal Scope: An Affidavit alone is just a sworn statement of facts, while an Affidavit and Indemnity Agreement combines this with protective promises for future claims
• Purpose: A standard Affidavit provides testimony about past events, but doesn't offer protection against future issues. The combined agreement actively shields parties from potential losses
• Business Application: Affidavits are used broadly for factual declarations in Saudi courts, while Affidavit and Indemnity Agreements specifically handle commercial document losses and business transfers
• Enforcement Power: The combined agreement carries stronger legal weight in Saudi commercial dealings, especially with banks and government authorities