The Financial Responsibility Form is a crucial document used in Saudi Arabia to establish clear financial obligations and commitments between parties. It is commonly required in various situations such as opening bank accounts, securing loans, establishing business relationships, or undertaking financial commitments in compliance with Saudi Arabian law and Sharia principles. The document must align with regulations set by the Saudi Arabian Monetary Authority (SAMA) and include specific declarations, payment terms, and compliance statements. It can be used by both individuals and corporate entities, requiring different levels of documentation and verification depending on the signatory's status and the nature of the financial responsibility being undertaken. The form typically includes supporting schedules and appendices to ensure comprehensive documentation of the financial obligation and the parties involved.
Thank you! Your submission has been received!
Oops! Something went wrong while submitting the form.
Your data doesn't train Genie's AI
You keep IP ownership聽of your docs
1. Identification Details: Full legal name, national ID/Iqama number, contact information, and address of the responsible party
2. Financial Obligation Declaration: Clear statement of the financial responsibilities being undertaken, including specific amounts or obligations
3. Terms of Responsibility: Detailed conditions under which the financial responsibility applies, including duration and scope
4. Payment Terms: Specification of payment methods, schedules, and conditions in compliance with Sharia principles
5. Default Provisions: Consequences of failing to meet financial obligations and remedial procedures
6. Compliance Statement: Declaration of compliance with Saudi Arabian laws and Sharia principles
7. Governing Law: Explicit statement that the form is governed by Saudi Arabian law and Sharia principles
8. Signature Block: Space for official signatures, witnesses, and dates
1. Corporate Authorization: Required when the responsible party is a corporate entity, including board resolutions and authorized signatory details
2. Guarantor Information: Used when a guarantor is required to support the financial responsibility
3. Asset Declaration: Optional section for listing relevant assets or collateral when required for specific financial responsibilities
4. Related Party Disclosures: Required when there are multiple parties or entities involved in the financial responsibility arrangement
5. Special Conditions: Used when specific conditions or circumstances apply to the financial responsibility
1. Schedule A - Income Verification: Documentation of income sources and financial capacity
2. Schedule B - Supporting Documents: List of required supporting documents such as bank statements, salary certificates, or commercial registration
3. Schedule C - Payment Schedule: Detailed breakdown of payment obligations and timelines if applicable
4. Appendix 1 - Identification Documents: Copies of required identification documents
5. Appendix 2 - Authorization Documents: Corporate or legal authorization documents where applicable
6. Appendix 3 - Terms and Conditions: Detailed terms and conditions of the financial responsibility agreement
Find the exact document you need
Consortium Agreement Form
A Saudi Arabian law-governed agreement establishing a consortium arrangement between multiple parties, defining their rights, obligations, and operational framework.
Download
Financial Responsibility Agreement
A Sharia-compliant Financial Responsibility Agreement under Saudi Arabian law establishing financial obligations and payment terms between parties.
Download
Financial Obligation Agreement
A Sharia-compliant agreement under Saudi law establishing financial obligations between parties, detailing payment terms and security arrangements.
Download
Financial Responsibility Form
A Saudi Arabian legal document that establishes financial obligations and responsibilities between parties, governed by local law and Sharia principles.
Download
骋别苍颈别鈥檚 Security Promise
Genie is the safest place to draft. Here鈥檚 how we prioritise your privacy and security.
Your documents are private:
We do not train on your data; 骋别苍颈别鈥檚 AI improves independently
All data stored on Genie is private to your organisation
Your documents are protected:
Your documents are protected by ultra-secure 256-bit encryption
We are ISO27001 certified, so your data is secure
Organizational security:
You retain IP ownership of your documents and their information
You have full control over your data and who gets to see it
.png)