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The Agreement To Repay Debt is a crucial document used in Saudi Arabia when formalizing arrangements for debt repayment between parties. It is commonly employed in situations where an existing debt needs to be formally acknowledged and structured repayment terms need to be established. The agreement must comply with both Saudi civil law and Sharia principles, particularly avoiding any interest-bearing elements. It includes essential details such as the principal amount, payment schedule, default provisions, and any security arrangements. This document is particularly important in the Saudi context as it provides a legally enforceable framework while respecting Islamic financial principles. It can be used for both commercial and personal debts, and is often required by Saudi courts as evidence of the debt obligation in case of future disputes.

1. Parties: Identification of the creditor and debtor with full legal names and addresses

2. Background: Context of the debt creation, original transaction or circumstances leading to the debt

3. Definitions: Key terms used throughout the agreement including 'Debt Amount', 'Payment Date', 'Default Event'

4. Acknowledgment of Debt: Clear statement of the debt amount and debtor's acknowledgment of the obligation

5. Repayment Terms: Detailed payment schedule, installment amounts, and payment methods

6. Payment Mechanics: Specific details about how payments will be made, including bank account details and payment verification process

7. Default Provisions: Consequences of missing payments and remedies available to the creditor (ensuring Sharia compliance)

8. Representations and Warranties: Debtor's confirmations regarding their ability to pay and the legitimacy of the debt

9. Governing Law and Jurisdiction: Confirmation of Saudi law application and relevant court jurisdiction

10. Notices: How formal communications between parties should be made and delivered

11. Execution: Signature blocks and execution requirements