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The Cash Payment Agreement is utilized in Saudi Arabia when parties need to formalize substantial cash transactions in compliance with local laws and regulations. This document is essential for businesses and individuals conducting significant cash-based transactions, particularly where regular or structured cash payments are involved. The agreement must align with Saudi Arabian law, including Sharia principles, SAMA regulations, and anti-money laundering requirements. It typically includes detailed payment terms, compliance procedures, and documentation requirements to ensure transparency and regulatory adherence. This type of agreement is particularly relevant in contexts where electronic payment methods are not preferred or practical, or where traditional cash transactions are common business practice.

1. Parties: Identification of all parties involved in the agreement, including full legal names, addresses, and registration details

2. Background: Context of the agreement, including the purpose of the cash payment arrangement and relationship between parties

3. Definitions: Definitions of key terms used throughout the agreement

4. Payment Terms: Detailed description of payment amount, currency, and timing of payments

5. Method of Payment: Specified means of cash payment, handling procedures, and delivery requirements

6. Acknowledgment of Receipt: Procedures for confirming receipt of payments and required documentation

7. Compliance Requirements: Anti-money laundering compliance, SAMA regulations, and documentation requirements

8. Tax Obligations: VAT and other tax-related obligations, including documentation requirements

9. Representations and Warranties: Statements of fact and assurances from both parties regarding their capacity and compliance

10. Termination: Conditions and procedures for terminating the agreement

11. Governing Law and Jurisdiction: Confirmation of Saudi law application and jurisdiction for disputes

12. Execution: Signature blocks and execution requirements