1. General Terms and Conditions

Saudi Fransi Leasing Finance Company shall be committed to waiving all the customer's financial obligations in the event of death or permanent disability, God forbid, in accordance with the controls, procedures and instructions of the Central Bank (SAMA). VAT is applied to financing services at a rate of 15% according to the regulations of the Zakat, Tax and Customs Authority

2. Amendment to Terms and Conditions

The Company shall be entitled to amend these terms and conditions at any time and notify the Client of this change within a period of not less than 30 days from the effective date of the amendment, through one of the Company's approved digital channels or through a text message to his/her mobile phone. The Company shall allow the Customer to object in the event that the Customer does not agree to this change after receiving the notification through one of the approved digital channels, and due diligence shall be done in responding to customer objections.

3. Financing pledges and installment payment methods

The Client shall undertake to pay the monthly installments shown in the installment payment schedule contained in Appendix (1) of the unified contract issued by the Saudi Central Bank (SAMA) on time. The Client shall undertake to issue a promissory note in favor of Saudi Fransi Lease Finance Company, provided that it is only executed at maturity.

The Client has the following options in paying the financing installments:

o SADAD service

o Quick transfer to the finance account

o Payment at one of the company's branches (POS)

4. Annual Percentage Rate

The discount rate at which the present value of all installments and other payments due from the beneficiary, which represents the total amount payable by the beneficiary, shall be equal to the present value of the installments of the financing amount available to the beneficiary on the date on which the financing amount (or the first payment thereof) is available to the beneficiary, which is calculated according to the formula stipulated in the instructions of the Saudi Central Bank (SAMA)

5. Financial Responsibility

The Client shall undertake to ensure the ability to bear all current and future financial obligations before applying for financing. Failure to do so may result in a negative credit history in his/her name and may affect the possibility of applying for any of the financing products with Saudi Fransi Leasing Finance Company or any other financing entity.

6. Failure to fulfil financial obligations:

If the Client fails in fulfilling his/her financial obligations based on the installment payment schedule contained in Appendix (1) of the unified contract issued by the Saudi Central Bank (SAMA), the Company shall be entitled to take legal action as it deems appropriate and in accordance with the laws and regulations of the Kingdom of Saudi Arabia.

7. Early settlement

The Client shall be entitled to apply at any time for early repayment during the financing period, and the Client must pay all the remaining amounts of the original funding and early settlement fees within (7) working days from the date of being notified of it. When calculating the full amount of early repayment, the remaining original funding amount shall be calculated with the profits of the next 90 days, plus any cost incurred by the Company to a third party if any.

8. Finance Amount

The financing amount of the Client shall be calculated based on the total monthly income, the Client's current obligations, the status of the credit history with SIMAH, and the deduction percentage from the salary, provided that the deduction percentage does not exceed 33% of the monthly income based on the instructions of the Saudi Central Bank (SAMA)

9. Termination of financing

The Client shall be entitled to terminate the financing contract if the deposited finance amount is returned in full and an application is created within 10 days from the date of the financing contract, except in case any amount of the finance amount is withdrawn or used.

10. Delay or defaulting

If the Client delays or defaults in paying the monthly installments (based on the signed payment schedule) with the Company demanding to pay by notifying him/her of that delay and the Client does not correct such a delay or default within the notice period, all installments shall become due immediately without adhering to their due dates and without the need for an alert or warning, and the arrears shall be submitted to SAMA, which may harm the Clients record.Credit. The Company shall reserve the right to fulfill its rights in accordance with the regulations and laws in the Kingdom of Saudi Arabia and the controls and instructions of the Saudi Central Bank (SAMA).