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The Safe Deposit Box Rental Agreement is essential for financial institutions operating in Saudi Arabia that offer secure storage facilities to their customers. This document is used when a customer wishes to rent a safe deposit box for storing valuable items, documents, or other permitted possessions. The agreement must comply with Saudi Arabian banking regulations, including the Banking Control Law and SAMA guidelines, while adhering to Sharia principles. It establishes the rights and obligations of both the bank and the renter, covering crucial aspects such as access procedures, security measures, rental fees, and liability limitations. The document is particularly important in the Saudi Arabian context due to specific local regulatory requirements and the need to balance modern banking practices with Islamic banking principles.

1. Parties: Identification of the bank and the renter(s), including full legal names, addresses, and identification numbers

2. Background: Brief context explaining the purpose of the agreement and the service being provided

3. Definitions: Key terms used throughout the agreement, including 'Safe Deposit Box', 'Access Hours', 'Authorized Users', etc.

4. Box Details and Rental Terms: Specific details of the safe deposit box, including box number, size, location, and rental period

5. Rental Fees and Charges: Details of rental fees, payment schedule, late payment penalties, and other applicable charges

6. Access and Security: Rules and procedures for accessing the box, including identification requirements and access hours

7. Keys and Security Measures: Provisions regarding key handling, lost keys, and security protocols

8. Prohibited Items: List of items that may not be stored in the safe deposit box

9. Bank's Rights and Limitations of Liability: Scope of bank's responsibilities and limitations on liability

10. Customer Obligations: Renter's responsibilities and obligations regarding box usage and maintenance

11. Term and Termination: Duration of agreement, renewal terms, and termination conditions

12. Governing Law and Jurisdiction: Specification of Saudi law as governing law and relevant jurisdiction for disputes