General Terms and Conditions of Credit Sale

1. Scope and Application

These Terms and Conditions apply to all sales of goods and/or services supplied on credit by [Company/Seller Name] (hereinafter referred to as the "Seller") to the buyer (hereinafter referred to as the "Buyer"). The issuance of a purchase order or the acceptance/receipt of goods constitutes the Buyer's full, irrevocable, and unconditional acceptance of these terms.

2. Credit Facilities and Limits

• Credit limits and extended payment terms are granted at the sole discretion of the Seller, subject to satisfactory financial evaluation and credit assessments.
• The Seller reserves the absolute right to revise, reduce, suspend, or revoke credit facilities at any time without prior notice.

3. Payment Terms

• The Buyer shall pay the total invoice amount in full within [ 30  days] from the invoice or delivery date (whichever is earlier), without any deduction, withholding, set-off, or counterclaim unless agreed in writing.
• Payments must be made via direct bank transfer to the Seller's designated account. Invoices are deemed settled only upon cleared funds received in the Seller's account.

4. Retention of Title and Passing of Risk

• Transfer of Risk: Risk of loss or damage to the goods transfers to the Buyer upon delivery in accordance with the agreed Incoterms.
• Retention of Title: Title and ownership of the goods remain with the Seller until full payment of the purchase price and any associated charges is received. The Seller retains the right to repossess any goods if the Buyer fails to make payment when due.

5. Default and Remedies

• If the Buyer fails to pay any amount by the due date, the Seller may immediately and without prior legal notice:
  1. Suspend or cancel pending orders or future deliveries.
  2. Declare all outstanding deferred balances and unbilled amounts immediately due and payable.
  3. Claim reasonable collection expenses, legal fees, and statutory court costs incurred to recover overdue amounts.
• In adherence to the applicable laws of the Kingdom of Saudi Arabia and Sharia principles, interest/usury will not be charged; remedies are restricted to actual proven losses, collection costs, and litigation expenses.

6. Collateral and Security

The Seller may require security instruments before extending credit or dispatching goods, including but not limited to enforceable Promissory Notes under the Saudi Enforcement Law, unconditional Bank Guarantees, or Corporate/Personal Guarantees.

7. Inspection and Claims

The Buyer must inspect the goods immediately upon receipt. Any patent defects, damages, or discrepancies must be notified to the Seller in writing within [e.g., 5 to 7 business days] of delivery. Failure to give notice constitutes deemed acceptance of the goods as delivered, and does not relieve the Buyer of the duty to make payment on time.

8. Force Majeure

Neither party shall be liable for failure or delay in performing its obligations if such failure arises from events beyond its reasonable control, including acts of God, war, labor disputes, trade embargos, epidemics, or regulatory/governmental orders.

9. Governing Law and Dispute Resolution

These Terms and Conditions shall be governed by, construed, and enforced in accordance with the laws and regulations of the Kingdom of Saudi Arabia (including the Civil Transactions Law and Commercial Courts Law). Any dispute arising out of or in connection with these terms shall be subject to the exclusive jurisdiction of the Commercial Courts of [City, e.g., Riyadh], Saudi Arabia.