Document background
This Contract Vehicle Leasing agreement is designed for use in Saudi Arabia when establishing formal vehicle leasing arrangements between lessors and lessees, whether corporate or individual. The document ensures compliance with Saudi Arabian law, including traffic regulations, SAMA guidelines, and Sharia principles governing financial transactions. It is particularly relevant for businesses establishing fleet leasing arrangements, as well as individuals seeking long-term vehicle leases. The agreement includes comprehensive provisions for vehicle specifications, maintenance responsibilities, insurance requirements, and payment terms structured in a Sharia-compliant manner. It addresses key risk areas such as vehicle condition, usage restrictions, and early termination scenarios, while providing clarity on obligations and remedies for all parties involved.
