Document background
The Business Relationship Agreement is a fundamental document used to establish and govern commercial relationships between parties operating in Saudi Arabia. It serves as a master agreement that defines the framework for ongoing business interactions, ensuring compliance with Saudi Arabian laws, including Shariah principles and commercial regulations. This document is particularly important given Saudi Arabia's evolving business landscape under Vision 2030, where new business relationships are forming across various sectors. The agreement typically covers essential aspects such as scope of cooperation, financial terms, compliance requirements, risk allocation, and dispute resolution mechanisms, while remaining flexible enough to accommodate specific business needs through schedules and appendices. It's designed to provide legal certainty while facilitating business operations in accordance with Saudi Arabian commercial practices and regulatory requirements.
