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The Certificate of Deposit Agreement is a crucial banking document used in Saudi Arabia when a depositor wishes to place funds with a bank for a fixed term under Shariah-compliant conditions. This agreement is essential for both retail and corporate banking relationships, providing clarity on the deposit terms, profit-sharing arrangements, and the rights and obligations of both parties. The document must align with Saudi Arabian banking regulations, particularly those issued by the Saudi Central Bank (SAMA), and strictly adhere to Islamic banking principles. It's commonly used for managing excess liquidity, investment planning, and securing predetermined profit rates for fixed periods. The agreement includes specific provisions for profit calculation, early withdrawal conditions, and maturity options, while ensuring transparency and compliance with both regulatory requirements and religious principles.

1. Parties: Identification of the Bank and the Depositor with full legal names and addresses

2. Background: Context of the agreement and statement of intent to enter into a Shariah-compliant deposit arrangement

3. Definitions: Key terms used throughout the agreement including 'Deposit Amount', 'Term', 'Profit Rate', and 'Maturity Date'

4. Deposit Terms: Core terms including deposit amount, currency, term duration, and profit calculation methodology

5. Shariah Compliance: Declaration of Shariah compliance and underlying Islamic banking principles applied

6. Profit Distribution: Method and timing of profit calculation and distribution in accordance with Shariah principles

7. Term and Maturity: Duration of the deposit, maturity conditions, and renewal options

8. Early Withdrawal: Conditions and consequences of early withdrawal, including any applicable penalties

9. Bank's Rights and Obligations: The bank's responsibilities regarding safekeeping and managing the deposit

10. Depositor's Rights and Obligations: The depositor's responsibilities and rights regarding the deposit

11. Representations and Warranties: Standard declarations by both parties regarding their capacity and authority

12. Governing Law and Jurisdiction: Application of Saudi Arabian law and jurisdiction for dispute resolution

13. Notices: Methods and requirements for formal communications between parties

14. Termination: Circumstances and procedures for terminating the agreement