The Guarantee And Indemnity Agreement is a crucial document in Saudi Arabian commercial and financial transactions, used when one party (the guarantor) agrees to secure the obligations of another party (the principal debtor) to a third party (the beneficiary). This document is essential in various commercial contexts, from securing bank facilities to supporting commercial contracts, and must be structured to comply with Islamic Sharia principles and Saudi Arabian law. The agreement includes detailed provisions on the scope of the guarantee, demand mechanisms, and enforcement procedures, all aligned with Saudi Arabian regulatory requirements and market practice. It's particularly important in project finance, commercial lending, and large-scale commercial transactions where additional security is required to support primary obligations.
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. Parties: Identification of the Guarantor(s), Principal Debtor, and Beneficiary with full legal names and addresses
2. Background: Context of the underlying obligation and relationship between parties, including reference to the principal agreement being guaranteed
3. Definitions: Key terms used throughout the agreement, including 'Guaranteed Obligations', 'Principal Agreement', and Islamic finance-specific terms
4. Guarantee and Indemnity: Core provisions detailing the scope of the guarantee and indemnity obligations, structured to comply with Sharia principles
5. Representations and Warranties: Guarantor's confirmations regarding capacity, authority, and Sharia compliance
6. Nature of Guarantee: Specification that the guarantee is primary, independent, and continuing, with provisions for Islamic finance compliance
7. Demands and Payments: Process for making demands under the guarantee and payment mechanisms compliant with Islamic finance principles
8. Preservation of Rights: Beneficiary's rights preservation and the continuing nature of the guarantee
9. Discharge and Release: Conditions for discharge of the guarantee and release of the guarantor
10. Expenses and Taxes: Allocation of costs, expenses, and taxes related to the guarantee
11. Notices: Communication procedures between parties
12. Governing Law and Jurisdiction: Confirmation of Saudi law governance and jurisdiction of Saudi courts/committees
13. Execution: Signature blocks and execution formalities
1. Multiple Guarantors: Additional provisions for cases involving more than one guarantor, including joint and several liability
2. Currency Provisions: For cross-border transactions, provisions dealing with currency conversion and payment
3. Security: Where additional security is provided to support the guarantee
4. Assignment and Transfer: Provisions regarding the ability to transfer or assign rights under the guarantee
5. Power of Attorney: Where specific powers need to be granted to the Beneficiary
6. Amendments to Principal Agreement: Provisions dealing with the impact of amendments to the underlying agreement
7. Partial Invalidity: Severability provisions in case certain terms are found to be invalid
8. Language: For bilingual agreements, provisions regarding the prevailing language
1. Form of Demand: Template for making formal demands under the guarantee
2. Principal Agreement: Copy or summary of the underlying agreement being guaranteed
3. Guarantor Board Resolutions: Corporate authorizations for the guarantee
4. Specimen Signatures: Authorized signatures for making and accepting demands
5. Sharia Board Approval: Where required, confirmation of Sharia compliance from relevant Sharia board
6. Security Documents: If applicable, details of any additional security provided
7. Payment Schedule: If applicable, schedule of guaranteed payments or obligations
Find the exact document you need
Guaranty Of Lease Agreement
A Saudi Arabian law-compliant agreement where a guarantor secures a tenant's lease obligations, incorporating both civil and Sharia law requirements.
Download
Performance Guarantee Agreement
A Saudi law-governed agreement where a Guarantor provides assurance of a Principal's performance obligations to a Beneficiary, structured in compliance with Sharia principles.
Download
Performance Bond Agreement
A Saudi Arabia-governed guarantee agreement where a bank ensures a contractor's performance of contractual obligations to a project owner.
Download
Loan Guarantee Agreement
A Saudi Arabian law-governed agreement where a Guarantor secures the payment obligations of a Principal Debtor to a Lender, structured in compliance with Shariah principles.
Download
Lease Guarantee Agreement
A Saudi Arabian law-governed agreement where a guarantor undertakes to fulfill a tenant's lease obligations in case of default, structured in compliance with Sharia principles.
Download
Guarantee Rental Agreement
A Saudi Arabian law-compliant agreement where a guarantor secures a tenant's rental obligations under Shariah principles.
Download
Guarantor Contract
A Saudi Arabian law-governed guarantee agreement where a guarantor assumes responsibility for another party's obligations, structured in compliance with Sharia principles.
Download
Loan Guarantee Form
A Sharia-compliant guarantee agreement under Saudi Arabian law where a guarantor secures the loan obligations of a borrower to a lender.
Download
Guarantor Tenancy Agreement
A Saudi Arabian law-governed agreement establishing a tenancy arrangement with guarantor provisions, compliant with Sharia principles and local regulations.
Download
Rent Guarantee Agreement
A Sharia-compliant guarantee agreement under Saudi Arabian law where a guarantor secures a tenant's rental obligations to a landlord.
Download
Loan Personal Guarantee Form
A Sharia-compliant personal guarantee agreement under Saudi Arabian law, establishing a guarantor's commitment to secure a third party's loan obligations.
Download
Investment Guarantee Agreement
A Saudi Arabian law-governed agreement establishing investment protection terms and guarantees for investors while ensuring compliance with local regulations and Sharia principles.
Download
Guarantee And Indemnity Agreement
A Saudi Arabian law-governed guarantee agreement providing Sharia-compliant security for commercial obligations.
Download
Contract Of Indemnity And Guarantee
A Saudi Arabian law-governed agreement establishing guarantee and indemnity obligations between parties, structured in compliance with Shariah principles and local commercial regulations.
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)