An Acknowledgment of Debt Agreement is a crucial document used in Saudi Arabia when one party needs to formally recognize and document a debt obligation to another party. This agreement is particularly important in the Saudi Arabian context as it must comply with both civil law requirements and Islamic Sharia principles, which prohibit the charging of interest (riba) and require clear documentation of legitimate debt obligations. The document is commonly used in various scenarios including business transactions, personal loans, settlement of outstanding payments, or restructuring of existing debts. It provides clear evidence of the debt that can be used in Saudi courts and includes essential elements such as the debt amount, payment schedule, and parties' obligations. The agreement should be drafted to ensure enforceability under Saudi law while maintaining Sharia compliance.
Your data doesn't train Genie's AI
You keep IP ownership of your information
Thank you! Your submission has been received!
Oops! Something went wrong while submitting the form.
OR
Let Genie AI's market-leading legal AI identify missing terms, unusual language, compliance issues and more - in just seconds.
1. Parties: Identification of the creditor and debtor with full legal names, addresses, and identification numbers
2. Background: Context of how the debt arose and confirmation that it is legitimate under Sharia law
3. Definitions: Key terms used in the agreement, including 'Debt Amount', 'Payment Date', and other relevant terminology
4. Acknowledgment of Debt: Clear statement of the debt amount and confirmation by the debtor of the obligation to pay
5. Payment Terms: Details of how and when the debt will be repaid, including payment schedule and method
6. Debtor's Warranties: Confirmations from the debtor regarding capacity, authority, and legitimacy of the debt
7. Default Provisions: Consequences of failing to pay as agreed, compliant with Sharia and Saudi law
8. Notices: How formal communications between parties should be made and delivered
9. Governing Law and Jurisdiction: Confirmation of Saudi law application and jurisdiction of Saudi courts
10. Execution: Signature blocks and execution requirements
1. Security: Details of any collateral or security provided for the debt - include if there is security for the debt
2. Guarantee: Terms of any guarantee provided - include if there is a guarantor
3. Early Payment Provisions: Terms for early repayment of the debt - include if early repayment is permitted
4. Assignment: Rights to assign the debt to third parties - include if assignment is to be permitted
5. Costs and Expenses: Allocation of costs related to the agreement - include if specific cost arrangements are needed
6. Force Majeure: Provisions for unforeseen circumstances affecting payment - include if required for longer-term payment arrangements
1. Payment Schedule: Detailed breakdown of payment dates and amounts
2. Original Debt Documentation: Copies of original contracts or documents evidencing the debt
3. Security Details: Details of any security or collateral provided (if applicable)
4. Guarantee Document: Copy of guarantee agreement (if applicable)
5. Powers of Attorney: Copies of powers of attorney if parties are acting through representatives
Authors
Relevant legal definitions
Clauses
Relevant Industries
Banking & Financial Services
Real Estate
Construction
Manufacturing
Trading & Commerce
Professional Services
Healthcare
Education
Retail
Technology
Transport & Logistics
Energy & Resources
Relevant Teams
Legal
Finance
Treasury
Credit Control
Accounts Receivable
Risk Management
Compliance
Commercial Operations
Corporate Secretarial
Collections
Relevant Roles
Chief Financial Officer
Finance Director
Legal Counsel
Corporate Lawyer
Credit Manager
Collections Manager
Accounts Receivable Manager
Treasury Manager
Risk Manager
Commercial Director
Business Development Manager
Contract Administrator
Financial Controller
Compliance Officer
Company Secretary
Find the exact document you need
Partial Payment Acknowledgement Receipt
A Saudi Arabian law-compliant document acknowledging partial payment of a debt while maintaining the creditor's rights to the remaining balance.
find out more
Acknowledgement Receipt Of Cheque
A Saudi Arabian legal document acknowledging the receipt of a cheque, providing formal proof of transfer and compliance with local banking regulations.
find out more
Acknowledgement Receipt For Partial Payment Of Land
A Saudi Arabian legal document acknowledging partial payment received for land purchase, including transaction details and parties involved.
find out more
Employee Acknowledgement
A Saudi Arabian law-compliant document recording an employee's formal acknowledgment of company policies and workplace obligations.
find out more
Employee Handbook Acknowledgement
A Saudi Arabia-compliant document confirming employee receipt and understanding of company policies and procedures as detailed in the employee handbook.
find out more
Acknowledgement Receipt
A formal document under Saudi Arabian law confirming receipt of goods, services, documents, or payments, serving as legal evidence of transfer.
find out more
Cash Payment Acknowledgement Receipt
A Saudi Arabian-compliant legal document acknowledging the receipt of cash payment between parties, serving as official proof of transaction.
find out more
Acknowledgement Receipt For House And Lot Payment
A legal document under Saudi law acknowledging receipt of payment for a house and lot purchase, prepared in compliance with local real estate regulations and Islamic principles.
find out more
Acknowledgement Receipt For Down Payment
A Saudi Arabian legal document confirming receipt of down payment and outlining basic transaction terms, compliant with local commercial law and Sharia principles.
find out more
Affidavit Of Acknowledgement Of Payment
A notarized legal document under Saudi Arabian law that formally acknowledges receipt of payment for a debt or obligation.
find out more
Tenant Key Receipt Acknowledgement Form
A Saudi Arabian legal document recording the handover of property keys and access devices from landlord to tenant, establishing transfer of responsibility and access rights.
find out more
Tenant Acknowledgement Receipt
A Saudi Arabian legal document confirming a tenant's receipt of property-related items and documentation, compliant with REGA regulations.
find out more
Signature Acknowledgement Form
A legal document under Saudi Arabian law that officially verifies and authenticates an individual's signature on a specified document through notarial certification.
find out more
Service Acknowledgement Receipt
A Saudi Arabia-compliant document that formally acknowledges the receipt and acceptance of services, meeting local commercial and tax requirements.
find out more
Seller Acknowledgement Form
A Saudi Arabian legal document where sellers formally acknowledge their compliance with local laws and marketplace requirements.
find out more
Salary Acknowledgement Receipt
A mandatory salary payment confirmation document under Saudi Arabian labor law that serves as official proof of wage payment and complies with WPS regulations.
find out more
User Acknowledgement Form
A Saudi Arabian law-compliant document capturing user's explicit acknowledgment and consent to specific terms or conditions.
find out more
Uniform Acknowledgement Form
A standardized legal document for formal acknowledgments in Saudi Arabia, authenticated by authorized personnel and complying with Saudi law and Shariah principles.
find out more
Safety Training Acknowledgement Form
A Saudi Arabian compliance document that records employee acknowledgment of completed safety training, meeting local labor law requirements.
find out more
Petty Cash Acknowledgement Form
A Saudi Arabian compliant form establishing petty cash custody terms, responsibilities, and handling procedures within an organization.
find out more
Parent Acknowledgement Form
A Saudi Arabian legal document capturing parental consent and acknowledgment for educational institutions, aligned with local laws and Islamic principles.
find out more
Order Acknowledgement Form
A Saudi law-compliant document confirming receipt and acceptance of a purchase order, specifying agreed terms and conditions of sale.
find out more
Meeting Acknowledgement Form
A Saudi Arabian law-compliant form documenting meeting attendance, discussions, and acknowledgments in accordance with local corporate governance requirements.
find out more
Loan Acknowledgement Receipt
A Saudi Arabian legal document confirming loan receipt and debt acknowledgment, compliant with both commercial and Sharia law requirements.
find out more
Safety Acknowledgement Form
A Saudi Arabian legal document recording employee acknowledgment of workplace safety policies and procedures, in compliance with Saudi Labor Law and safety regulations.
find out more
Risk Assessment Acknowledgement Form
A Saudi Arabian legal document that records an individual's acknowledgment and understanding of workplace risks and safety measures, complying with local labor and safety regulations.
find out more
Policy Acknowledgement Form
A Saudi Arabian compliant document that formally records an employee's acknowledgment and acceptance of company policies and procedures.
find out more
Laptop Acknowledgement Form
A Saudi Arabian law-compliant document establishing terms and conditions for company-issued laptop usage, including employee responsibilities and security requirements.
find out more
Individual Acknowledgment Form
A Saudi Arabian legal document capturing an individual's formal acknowledgment or declaration of specific facts or obligations.
find out more
Gift Card Acknowledgement Form
A Saudi Arabia-compliant form documenting the issuance and acceptance of a gift card, including recipient details and terms of use under SAMA regulations.
find out more
Employee Safety Training Acknowledgement Form
A Saudi Arabian law-compliant form documenting employee receipt and acknowledgment of mandatory safety training, including training details and commitment to safety procedures.
find out more
Employee Ppe Acknowledgement Form
A Saudi Arabia-compliant form documenting the provision of PPE to employees and their acknowledgment of responsibilities regarding PPE use and maintenance.
find out more
General Acknowledgement Form
A formal legal document under Saudi Arabian law used to officially acknowledge or confirm specific facts or circumstances, complying with local legal requirements and Sharia principles.
find out more
Employee Acknowledgement Form
A Saudi Arabian labor law-compliant form documenting employee receipt and understanding of company policies and procedures.
find out more
Driver Responsibility Acknowledgement Form
A Saudi Arabian legal document outlining professional drivers' responsibilities and obligations, ensuring compliance with local traffic laws and company policies.
find out more
Document Acknowledgement Form
A Saudi Arabian legal document confirming receipt and understanding of specified documents or policies, compliant with local law and Sharia principles.
find out more
Deposit Acknowledgement Receipt
A Saudi Arabian banking document that officially acknowledges the receipt of deposits, compliant with local banking regulations and Shariah law.
find out more
Delivery Acknowledgement Form
A Saudi Arabian law-compliant document that formally acknowledges the receipt of delivered goods, serving as legal proof of transfer between parties.
find out more
Customer Acknowledgement Receipt
A Saudi Arabian legal document confirming customer receipt and satisfaction with goods or services, serving as proof of transaction completion.
find out more
Corporate Credit Card Acknowledgement Form
A Shariah-compliant corporate credit card acknowledgment form for use in Saudi Arabia, establishing terms and responsibilities for corporate card usage.
find out more
ұԾ’s Security Promise
Genie is the safest place to draft. Here’s how we prioritise your privacy and security.
Your documents are private:
We do not train on your data; ұԾ’s 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)