The Rent Guarantor Form is a crucial document in Saudi Arabian real estate transactions, providing security for landlords while facilitating rental agreements for tenants who may need additional financial backing. This document is commonly used when a tenant's financial credentials alone don't meet the landlord's requirements, or in corporate housing scenarios. The form must comply with both Saudi civil law and Sharia principles, particularly regarding Kafalah (guarantorship). It typically includes the guarantor's personal or corporate details, the scope of guaranteed obligations, enforcement mechanisms, and specific provisions required by Saudi authorities. The document becomes especially important in major cities like Riyadh, Jeddah, and Dammam, where rental markets are highly active and landlords often require additional security.
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1. Parties: Details of the Landlord, Tenant, and Guarantor including full legal names, national ID numbers/CR numbers, and contact information
2. Background: Brief context about the underlying tenancy agreement and the need for a guarantor
3. Definitions: Key terms used in the document including 'Guaranteed Obligations', 'Tenancy Agreement', 'Rental Period'
4. Guarantee: Core section detailing the scope and nature of the guarantee being provided
5. Guarantor's Obligations: Specific financial and performance obligations the guarantor is undertaking
6. Duration: Term of the guarantee, including start date and conditions for termination
7. Payment Terms: Details of when and how the guarantor must make payments upon default by the tenant
8. Declarations: Guarantor's confirmations regarding financial capacity and understanding of obligations
9. Enforcement: Procedures for enforcing the guarantee and applicable notice requirements
10. Governing Law: Confirmation of Saudi law and Sharia principles governing the agreement
1. Corporate Authority: Required only when the guarantor is a company, detailing corporate approvals and authority to provide the guarantee
2. Multiple Guarantors: Additional provisions required when there is more than one guarantor, defining joint and several liability
3. Guarantee Limit: Optional cap on the guarantor's liability, if agreed between the parties
4. Property Description: Detailed property information, required only if the guarantee is specific to certain premises
5. Islamic Finance Compliance: Additional provisions ensuring explicit compliance with Islamic finance principles, particularly relevant for corporate or institutional arrangements
1. Tenancy Agreement Details: Copy or key details of the underlying tenancy agreement being guaranteed
2. Property Details: Full description and documentation of the rental property
3. Required Documents: List of supporting documents provided by the guarantor (ID copies, financial statements, etc.)
4. Payment Schedule: If applicable, schedule of rental payments being guaranteed
5. Authentication Documents: Required legal authentication and certification documents under Saudi law
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