Saudi Arabia has been working for a long while on diversifying the sources of national income through several means. Export is one of the significant national income sources, as it is an effective and growing sector. Thus, the importance of this sector stems from its great capability to create new job opportunities for the youth, and to attract more national and foreign private investments, which will consequently result in real and constant growth rates. Theref...
The Saudi economic indicators exhibit tangible and spectacular success in which the private sector actively participated. This sector includes companies, institutions, and businessmen with various names, sizes, and capitals. The roles of other sectors in the state should not be overlooked; neither is their quest for reinforcing our national economy and achieving positive results in economic and development fields.
Based on such significance, the efforts...
In the event it was agreed to sell the product between the seller (the exporter) and the buyer (importer), the seller must issue a commercial invoice issued as part of the sale process. The commercial invoice is a document issued by the seller to the buyer stating the name, type, quantity and value of the items sold.
The issuance of the certificate of origin
After the agreement on the sale and issuance of the commercia...
Export Credit Insurance and Guarantee Services are intended to support Saudi exporters by reducing their risk of not getting paid for their exports whether such default is due to commercial or political risks.
Further, the service gives additional security to commercial banks and reduces their risk when financing exports by assigning policyholders rights to a commercial bank. Banks, also, can benefit from the L/C confirmation guarantees that can help ex...
Basic Requirements to obtain Financing Facilities:
- The goods and/or services to be exported shall be of Saudi origin.
- The local added value of the goods or services to be exported shall not be less than 25%.
- SEP does not finance the exports of crude oil.
- The minimum value of a transaction to be financed by SEP is SR100,000 (or its equivalent in US Dollars).
- SEP may finance up to 100% o...