TERMS AND CONDITIONS

Acceptance of Bidaya Finance Company Terms and Conditions for Financing Products

I, the client (undersigned?), hereby declare and agree to the following:

• That the information and particulars given in this application are accurate, true, and complete in all respects and I have not withheld any information.
• I confirm that I have read the Terms and Conditions of Bidaya Finance Company, and I agree to be bound by all its amendments.
• I will advise Bidaya Finance Company in writing in the event of any change regarding the information provided in the period between the finance application and the date of opening the finance account.
• I declare and confirm that all financial responsibilities and agreements, if any, involving other banks or financial institutions have been fully disclosed and I understand that Bidaya Finance Company has the right to reject any request without giving justification.
• I acknowledge and agree that the insurance policy is subject to the acceptance and the criteria for the relevant insurance company that will provide such policy for Bidaya Finance Company.
• I acknowledge and consent to Bidaya Finance Company collecting, using, and disclosing my personal data as necessary for the purposes of assessing my credit eligibility and providing financial services. This may include sharing my information with credit bureaus, or other third parties as required by regulations or for the purpose of fulfilling contractual obligations. It is also understood that a copy of this form will also serve as authorization.
• I authorize Bidaya Finance Company to share my personal data with other institutions or entities as necessary for the purpose of providing financial services or complying with legal requirements. These entities may use or disclose my information in accordance with their own privacy policies and applicable laws.
• I hereby consent to Bidaya Finance Company selling or transferring the principle of the financing and the rights derived from it to a third-party financial institution in the Kingdom (KSA) and agree to provide any necessary documentation or information required to facilitate such transfer.
• I authorize Bidaya Finance Company to verify my past and present employment earnings records, bank accounts, stock holdings, and any other financial information that is needed to process my loan application. This information will be collected and used in compliance with the Personal Data Protection Law (PDPL).
• In the case of two or more applicants, we acknowledge and agree that we are both/all liable and responsible to repay the full outstanding finance amount as well as any fees, charges, or commissions that may be applied by Bidaya Finance Company or other third-party company/agency working on behalf of Bidaya Finance Company. In the case where the application form has been completed by our nominated broker, intermediary, or Lease Adviser, I declare and confirm all the given details and information.
• I pay management and evaluation fees. I acknowledge that I am not entitled to a refund of management fees and evaluation fees if the financing is not completed based on my request. If the financing request is rejected by Bidaya Finance Company, the management fees and evaluation fees will be refundable by submitting a fee refund request through approved channels. This includes the event that the property seller does not pay the real estate transaction tax stipulated in Royal Order No. (A/84) dated (02/14/1442 H) and any updates that may occur to it.