Document background
The Contract For Vehicle Sale With Payments is essential for transactions involving the sale of vehicles with deferred payment arrangements in Saudi Arabia. This document type is particularly relevant when parties wish to structure a vehicle sale with installment payments while ensuring compliance with both Saudi civil law and Islamic finance principles. It addresses various scenarios from individual consumer purchases to commercial fleet acquisitions, incorporating necessary provisions for vehicle registration, ownership transfer, and payment security. The agreement is designed to protect both seller and buyer interests while meeting the requirements of Saudi traffic authorities, SAMA regulations, and Shariah guidelines on financial transactions. It includes comprehensive details about the vehicle, payment terms, warranties, and maintenance obligations, making it suitable for both private and commercial vehicle sales with extended payment periods.
