Terms and Conditions

These User Terms are important so please read them carefully. They apply to your use of our Online Portal services at www.alraedah.sa (“Online Portal”). You should only use Online Portal if you agree with these User Terms.

When you click to accept the User Terms, you will be legally bound by these User Terms.

We recommend that you print a copy of these User Terms for your records or alternatively you may ask us for a copy of these User Terms at any time.

Alraedah Finance reserves the right to change these terms and conditions at any time, and if we do so, you will be notified of this change in no less than 30 days before it takes effect, if no comments are received by you within 30 days this will be considered an implicit acceptance of the updated terms and conditions.

The user’s continued access and use of the financial services and Online Portal is also considered an implicit acceptance of the updated terms and conditions.

Where We refer to “You” or “Your”, We mean either:

  1. One of Our personal customers if You are using Online Portal in a personal capacity; or
  2. One of Our business customers, You are representing (as applicable):
  3. Your corporate body (for example, establishment or a limited liability Company);
  4. Your unincorporated body (for example, a partnership, club, foundation or charity);
  5. Yourself as a representative

These User Terms govern Your access to our online products and services only. These User Terms are not the terms which apply to the products and services themselves.

Part 1

General

1. Who We Are, What We Do and Contacting Us

  1. We are Alraedah Finance Company with commercial registration number (1010314982/7001691265) and SAMA license number (ASH/201602/43) with a registered address in Riyadh (Al Urubah Road, Laysen Valley Building 9, Riyadh).
  2. We are authorized and regulated by the Saudi Central Bank (SAMA).
  3. If You have any questions about anything in these User Terms or about Alraedah Finance’s services, then just contact Us at any of the following:
    1. In the branch:
      at our registered and head office located on King Khalid Road, Laysen Valley Building 9, Riyadh 12329
    2. Phone:
      (speak to a customer service representative) 8001249000 We may monitor and record phone calls to improve the quality of service.
    3. Online:
      Secure messaging through Online Portal (services may be slow or unavailable during maintenance and updates)
    4. Email:
      care@alraedah.sa

2. Device

      1. You may use the Online Portal on any computer, phone or tablet provided that device meets minimum operating system standards.
      2. We do not guarantee that Online Portal will be compatible with all hardware and software that You may use.

3. Online Portal functionality

      1. You may use Online Portal to (send and receive messages to Us)
      2. The functionality set out in clauses 4 (a) above for the Online Portal is not exhaustive and is subject to change by Us , knowing you may not be able to access all of Our products and services on Online Portal.

4. Your use of Online Portal

a. When using the Online Portal, You agree not to:

      1. attempt to undermine the security or integrity of Online Portal, Our computing systems or networks or those of a third party which host Online Portal. We will report any security breach to the relevant law enforcement authorities and will co-operate with those authorities by disclosing Your identity to them;
      2. use, or misuse, Online Portal in any way which may damage or harm any functionality of Online Portal (and other systems used to deliver Online Portal) or the ability of any other user to use Online Portal or any functionality of the same;
      3. attempt to gain unauthorized access to any materials other than those to which are publicly available;
      4. upload, transmit, or input into Online Portal, any files or data that may damage any other person’s computing devices or software, content that may be offensive, or material or data which is false or fraudulent or in violation of any law (including data, photographs, images or other material protected by copyright or trade secrets which You do not have the right to use);
      5. attempt to modify, copy, adapt, reproduce, disassemble, decompile or reverse engineer any computer programs used:(1) to deliver the services or any functionality of Online Portal; or(2) to operate Online Portal, except as is strictly necessary to use for normal operation and other than as permitted by law;
      6. impersonate any other person while using Online Portal;
      7. conduct Yourself in a vulgar, offensive, harassing or objectionable manner while using Online Portal; or
      8. use Online Portal for any unlawful purpose.

b. Online Portal may contain links to third party websites, software or programs that are not controlled by Us. We are not responsible for the content, terms and conditions, offers or privacy policies of such sites and programs. Your dealings with third party sites are solely between You and the applicable third party and You should read their terms and conditions and policies before using them.

5. Your data

a. Please see Our Personal Data Policy (as applicable) to find out about how We deal with Your data by clicking here.

6. Availability

a. Other than as set out in these User Terms and other than for warranties that are implied by law, the Online Portal is provided on an “as is” and “as available” basis. We make no representations or warranties of any kind, express or implied, as to the operation of the Online Portal or any information, content, materials or products included or referenced on the Online Portal.

b. We do Our best to ensure that the information accessed through the Online Portal is accurate and up to date but cannot guarantee that this will always be the case.

c. We aim to make the Online Portal available to You all the time but sometimes it or any functionality within the same may be unavailable due to Your lack of network connectivity, maintenance or to factors outside of Our control, such as the internet.

d. We follow industry standards and processes to prevent against the introduction of viruses, malware and malicious attacks that may harm the Online Portal or the device that You use to access the Online Portal , but We cannot guarantee that the application will be totally free from viruses and malware.

7. Our rights and obligations

a. We may change, modify, amend or remove some or all the functionality or content on the Online Portal at any time, including adding access to new or additional products or services

b. We and/or Our licensors are the owners of the Online Portal , which includes (but without limitation) any functionality, software, applications and domains made available through it.

c. All intellectual property rights in the Online Portal , and the content (except the personal information of You and other users any photographs or images which You take and upload or submit to the  Online Portal), video, audio, graphics, logos, icons and service names which appear on the Online Portal belong, or are licensed, to Us or Our third party licensors. No ownership rights to the intellectual property rights in any part or functionality of the Online Portal of any kind are transferred under these User Terms. You do not have any rights to such intellectual property except as expressly set out in these User Terms.

8. Liability

a. These User Terms do not exclude or limit Our liability (if any) for:

i. fraud;

ii. fraudulent misrepresentation

b. If You are using the Online Portal We exclude to the fullest extent permitted by law: all liability to You for any loss, damages, fines, costs or expenses of any kind that You may suffer, including any fines or penalties of any kind or any loss of profit, loss of business, loss of time or loss of data, whether direct or indirect, as a result of Your use of the Online Portal (including but not limited to loss of profits, contracts, goodwill or opportunity).

PART 2

1. Complaints

If You feel that We have not provided the standard of service You expect, or if we make a mistake, please let Us know. If You have a complaint, We aim to deal with it as quickly as possible to Your satisfaction. The easiest way to raise Your complaint with Us is by contacting us:

i. In the branch

at our registered and head office located on King Khalid Road, Laysen Valley Building 9, Riyadh 12329

ii. Phone

(speak to a customer service representative) 8001249000

We may monitor and record phone calls to improve the quality of service.

iii. Online

Secure messaging through the Alraedah Website www.alraedah.sa (services may be slow or unavailable during maintenance and updates)

iv. Email
complaints@alraedah.sa

If you are not satisfied with the resolution of your complaint, we give you the possibility to escalate your complaint by contacting us via the above contacting options.

If you are still not satisfied with the resolution of your complaint after the escalation, you can raise the complaint to the Central Bank of Saudi Arabia (SAMA).

PART 3

1. All employees of AlRaedah Company who are working for the company – except for the employees of the sales department – are eligible to enter the program.
2. AlRaedah welcomes its employees through a welcome message by registered e-mail to the employee, including a link containing a promotional code for the employee, and Al-Raeda has the absolute right to add employees with the appropriate mechanism and time.
3. In order for the employee to benefit from the program, he must share his link granted by AlRaedah Company to the applicant – the beneficiary – who in turn registers through the link sent to him by the employee.
4. The promo code link does not grant creditworthiness to customers requesting financing – beneficiaries – registered through it, and all beneficiaries are subject to credit study after providing all documents and requirements for it.
5. In case that AlRaedah Company agrees to grant the beneficiary one of the financing products, after registering through the link granted to the customer, the employee is entitled to a compensation of up to (1. 5% of the value of the finance amount not exceeding (1000) Saudi riyals called the referral Compensation).
6. The referral compensation is applied by transferring it to the employee’s bank account registered with AlRaedah.
7. The employee’s entitlement to the referral compensation shall be within 90 days of disbursement of the financing amount to the beneficiary.
8. The beneficiary is granted a discount of up to 10% of the value of the administrative fees up to a maximum of SAR 1,000, and this is included with the quotation letter by mentioning the discount percentage.
9. All terms and conditions related to the referral program are subject to the relevant regulations and instructions issued by the Saudi Central Bank and the relevant authorities.
10. Registration in the referral program is not a guarantee of financing from AlRaedah but is subject to the company’s absolute approval.
11. AlRaeda reserves the right, without giving reasons and at any time, to suspend or terminate the referral program or to disqualify any employee or beneficiary without the need for notice or warning.
12. In the event that AlRaedah Company discovers the existence of manipulation, fraud or violation of these terms and conditions, the violating employee or beneficiary shall be immediately disqualified, and the provisions of Article (80) of the Labor Law shall be applied to the employee and the authorized authorities shall be provided with the violation.
13. The Company reserves the right to make any amendments to these Terms or the Referral Program at any time and such modifications shall be effective immediately upon posting.
14. The Referral Program does not establish between the employee and AlRaedah a relationship of agency, legal representation, joint venture or partnership, and each agrees that he is not entitled to create a contract, agreement, provide a guarantee, pledge or create an obligation, express or implied on behalf of the other party.
15. The referred customer should not be a refinancing application. In case the referred customer has previously submitted a financing request in the system, the duration between their previous and latest referral should not exceed 3 months.