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403000158830000247111000344,780,000,000
320826/12/195320/4/13733737
www.alahli.com | 920001000 | 135196676778
Clause headings are used for convenience of reference only, and shall
be ignored in the interpretation of this Agreement. In the Agreement
references to clauses are to be construed as references to clauses
of this Agreement; words importing the plural shall, except where
the context otherwise requires, include the singular and vice versa;
and references to personals shall be construed as references to an
body, unincorporated body of persons, and association of trust as the
context may require.
VAT laws and regulations enacted within the Kingdom of Saudi Arabia
shall have the same meaning as in that VAT laws and regulations.
“GAZAT”
Zakat,Tax and customs authority.
“VAT”
Any value added tax or similar additional tax chargeable under the laws
and regulations of the Kingdom of Saudi Arabia for the time being and
any similar additional tax.
“VAT Regulation”
Is the VAT Law enacted by virtue of the Royal Decree No. (M / 113)
dated 2/11/1438H and its implementing regulations issued by GAZAT
and as amended from time to time, and in general, any law or regulation
imposing or relating to the imposition or administration of a value added
tax on goods and services in the Kingdom of Saudi Arabia and any
implementing regulation made under the relevant regulation or law.
“VAT–EXCLUSIVE CONSIDERATION”
“consideration ”in the VAT Regulation, and unless otherwise expressly
amounts to be provided for under or in accordance with this Agreement
are exclusive of any VAT. Furthermore all amounts exclude tax that
would be imposed in the future (including VAT). Upon implementation
of the VAT, SNB will be entitled to recover from the Customer any VAT
that SNB (as “banking service provider”) is required by law to collect.
2. Use of MADA Mark:
1. The Acquiring Bank hereby grants to The Merchant a non-
assignable exclusive license (with no right to sub-license) to
use the MADA Mark, or any other brand or mark that SAMA may
elect to use, from time to time, in connection with such aspects
of the MADA-POS transactions as are, or may be performed or
conducted by The Merchant, in conformity with the requirements
of The Acquiring Bank from time to time. The Merchant agrees
that it will not contest or lay any claim to the exclusive ownership
of the MADA Mark or dispute the validity of the MADA Mark.
2. It is hereby agreed that the MADA Mark, and any other brand or
mark that Saudi Central Bank may elect to use, from time to time,
is the exclusive property of Saudi Central Bank and The Merchant
shall not make any unauthorised use of the same.
3. Installation and Maintenance of
MADA-POS Terminals
1. The Acquiring Bank shall install at The Merchant’s outlet the
MADA-POS Terminal(s) subject to the terms and conditions
contained or made, or to be made, supplemental to the Agreement
as amended from time to time, and subject to any regulations
contained from time to time within the MADA Operating Manuals.
Subject to paragraph (c) of this Clause, the statement of charges
and to paragraph (c) of Clause 19, the cost and maintenance of
the MADA-POS Terminal and providing terminal supplies and
stationery shall be borne by The Acquiring Bank.
2/11/1438113
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3
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