Introduction
This privacy policy was developed to show you how the Agricultural Development Fund (ADF) collects, uses and protects the personal information provided by the Borrower, based on the Fund's commitment to protect the privacy of its customers and keenness to provide the best from accessing the ADF’s website.
Collecting and using personal information:
The personal information disclosed by the Borrower by his will, choice and knowledge during our provision of the services through the website is used to improve and activate the requested services and also for other related purposes. They include, but aren’t limited to, updating the Borrower's records with the Fund, introducing him to other services he may be interested in, conducting research and analysis of products that may improve our services and techniques, as well as following-up to the requests and other services provided by the website, in addition to the requisites of the concerned authorities and required by the applied laws.
Disclosing information:
We are entitled to disclosing the information collected about our customers, services, the traffic patterns of our website, and other site information to our affiliates or other entities. This disclosure shall be to the extent permitted by laws and regulations. Personal identification data are deemed an exception unless otherwise was stipulated in the Privacy Policy. We may also disclose information that protects our legal rights or permitted to be disclosed by the law.
Information security protection:
The website of the Fund shall take a number of technical measures and security measures to protect the security of personal information from loss, misuse, abuse, modification, corruption or destruction. All employees of the Fund shall adhere to a strict and comprehensive security policy that does not allow access to personal data except for those authorized to do so and committed to maintaining their confidential nature.
Links to other websites on the ADF website:
Please be aware that when you use any link on our website to go to another site, you lose our privacy policy, so we advise visitors to first familiarize themselves with the privacy policy of the site they want to browse before submitting any personal information about their identities.
Adjusting the privacy policy:
We reserve the right to make any changes to the terms and conditions of this Privacy Policy as deemed necessary and appropriate. You will always be informed of the information we collect, how we use it and who you will see it.
Illegal use:
You are prohibited from using the ADF website for any unlawful purposes with the aim of defamation, pornography, threats in general or any illegal or unethical acts.
Additional condition:
All terms and conditions published on this website or in any print publication of the Fund shall be deemed an integral part of this Policy.
Governing Law:
The terms and conditions set forth in this Privacy Policy shall be interpreted and implemented in accordance with the laws and regulations in force in the Kingdom of Saudi Arabia.
- General requirements for acceptance of credit service applications are as follows:
- The minimum age of the Fund's client (for individuals) must be at least 21.
- Credit service applications presented to companies shall be accepted in accordance with their registration criteria.
- The Fund's client applying for a financial credit service is independent, with obligations towards the fund that are based on the received credit services.
- The application for credit services is accepted by applying at the Fund or any of its other approved channels.
- The main center is specialized in studying the loans of specialized agricultural projects and completing all their procedures and then paying for them and following-up their progress.
- The main center is concerned with studying and approving regular loans whose validity exceed the branches.
- Branches and offices are specialized in studying the applications of regular loans, settling them, paying for them and following-up their progress based on the validity.
- The Center is responsible for studying, approving and following up the implementation of all the loans of the Fund's employees and the loans of first degree relatives for branch and office managers.
- Investment cost analysis of the three pillars is estimated.
- For specialized projects in accordance with the credit regulations.
- For the conditions set out in the collateral instructions.
- Guarantees shall be met in accordance with the provisions of the Credit Risk Report, including operational indicators and risks.
- Credit services are provided by the Fund based on its approved financing activities, in line with the credit risk requirements on which the credit decision is based, taking into account the following:
- Credit services are approved after the basic requirements of each financing activity of the Fund's activities are fulfilled.
- A pledge is made by the Fund's Client, making him non-entitled to receiving a refund of the fees he paid in the case of the expiry of the period of the validity of the technical examination.
- The credit service application whose technical examination was conducted over one year ago -for regular loans- and over two years -for the loans of specialized projects- shall be eliminated..
- The customer shall be notified at least twice a year to complete the application procedures electronically.
- After the scheduled legal period for the technical examination passes, new fees shall be collected from the Fund’s client.
- If the Fund’s client submitted an application to complete the credit service procedures, it must be re-examined.
- Adherence to the technical requirements for the licensed credit services by the Ministry of Environment, Water and Agriculture is necessary.
- The Fund's clients may not sell, grant or lease to the lending areas except with the approval of the Fund.
- The client shall provide the Fund with any changes in the position of the credit services provided to him during the submission of the application, the study, the signing of the contract, the payment and the payment period.
- The Fund must explain its stance from providing the credit service and financing activities it supports based on its strategy in the event of the client applying for the credit service.
- The credit decision depends on clients’ credit worthiness and ability to pay in the case of facing challenges during implementation and operation.
- The client of the foreign fund (independent investor or partner) is subject to the same things the Saudi client is subject to in terms of the specialized projects’ loans, with the condition of completing the documents and conditions of foreign investors.
- The specialized projects implemented within two years receive an approval on their funding from the credit vice head on the condition that the Fund’s client presents the implementation contracts and bills.
- The follow-up and assessment fees are refunded for the remaining period of the contract if the Fund’s client paid the entire value of the contract when it is still in force.
Long term credit services (direct loans):
Submitting applications for financing new specialized projects, expansions and rehabilitations, all of which requires determining the repayment period for credit services, based on cash flows, analysis of feasibility studies, project study, and credit analysis.
- The conditions of lending specialized projects:
- An electronic copy of a feasibility study with the technical specifications and financial and marketing study of the project acceptable by the Fund must be provided..
- A ministerial license for the establishment of the project from the Ministry of Environment, Water and Agriculture and the Ministry of Trade and Investment with the provision of a license from the municipality in case the site is within the urban scope.
- An agricultural record issued by the Ministry of Environment.
- A copy of the national ID in case the applicant was Saudi.
- The borrower must be at least 21 years of age.
- A land possession document (ownership deed), a government lease contract fit for the funding period, and a lease contract containing the Fund’s conditions, taking into account the following:
- The title deed must fulfill all the legal procedures.
- The deeds issued from the notaries to empty part of the described land, either with a deed issued by the court or a deed that is part of another deed with a notary, making sure that the basis it is based on is known.
- The lease must have a deed issued for it either from a notary or a specialized court. A copy must be attached to it, with a title deed or one that fulfills all the legal procedures proving the ownership of the land for which the loan is made. The period must not be less than 15 years, with the approval of the lessor to mortgage the land in exchange for the loan.
- A space survey of the project must be conducted by an approved engineering office, and any updates must be shown.
- A legal agency meeting the conditions of the Fund, according to the following text, and the agent shall have the right to borrow from ADF through signing the contract to receive the loans, as well as sign everything that requires attendance at the ADF, alongside with solidarity with the guarantors in full payment before signing the contract.
- Presenting what proves the client’s financial solvency, a bank statement of the past six months, properties or real estate, and shares portfolio.
- Signing the form of acknowledgment and a pledge to approve the query on the customer's credit report.
- Identical copies of the documents.
- Repaying the installments owed by the Fund's client or his guarantors if there was a previous dealing with the Fund
- Providing the necessary guarantees given that there must be not dues owed to the Fund by the guarantors.
- Paying the fees of the examination.
- Integrated engineering plans for the project.
- Additional conditions:
- For projects of air-conditioned greenhouses, a certificate issued by one of the licensed laboratories must be submitted to ensure the validity of the water and the quantity of production, or a certificate from the Ministry of Environment, Water and Agriculture shall be attached to the quantity and validity of the water and the project shall be far from the sources of pollution.
- For poultry projects of all types, it is important to adhere to the distances specified by the Ministry of Environment, Water and Agriculture additionally, the contract must be submitted with a slaughterhouse for poultry projects.
- Calves insurance contract for calves fattening.
- For companies’ applications, it is important to provide a identical copies of each of the following:
- Establishment contract.
- Commercial Register.
- The last three annual budgets of the existing companies and projects.
- A record of the board members.
- A letter from the Board of Directors of the company requesting the loan with an authorization of the representative who would review the fund and conclude the contract.
- Saudization certificate.
- Letter from the General Authority Zakat and Income.
- A license for practicing the activity issued by the General Authority for Investment for foreign companies, accompanied by a photocopy of the passport for non-Saudi partners. All the conditions applied on foreign investors are also applicable on this case. These conditions are issued by the General Authority for Investment or other competent authorities.
- For the applications of cooperative associations, it is important to provide a identical copies of each of the following:
- The last two reports of the meeting of the General Assembly.
- The report of the meeting of the board of directors of the association including the loan application, and the authorization of the representatives acting on behalf of the members of the association in terms of reviewing the request and signing the contract.
- A copy of the assembly’s internal system, an establishment contract and the internal regulations of the association.
- A certificate of registration of the association at the Ministry of Labor and Social Affairs.
- A statement of the company's capital and its assets, explaining the activity of the association in the previous period.
- Letter of support from the Ministry of Environment, Water and Agriculture and the Council of Cooperative Societies.
- The last three budgets approved by an accounting office.
- The conditions of lending short-term specialized projects:
- The Ministerial license for the establishment of the project, by the Ministry of Environment, Water and Agriculture and the Ministry of Trade and Investment.
- With a license from the municipality in the case of the site being within the urban scope.
- An agricultural record issued by the Ministry of Environment.
- A copy of the national ID in case the applicant was Saudi.
- The borrower must be at least 21 years of age.
- A land possession document ownership deed, a government lease contract fit for the funding period, and a lease contract containing the Fund’s conditions, taking into account the following:
- The title deed must fulfill all the legal procedures.
- The deeds issued from the notaries by emptying part of the described land, either with a deed issued by the court or a deed that is part of another deed with a notary, making sure that the basis it is based on is known.
- Knowing the foundations they were based on.
- The lease must have a deed issued for it either from a notary or a specialized court. A copy must be attached to it, with a title deed or one that fulfills all the legal procedures proving the ownership of the land for which the loan is made. The period must not be less than 15 years, with the approval of the lessor to mortgage the land in exchange for the loan.
- A space survey of the project must be conducted by an approved engineering office, and any updates must be shown.
- A legal agency meeting the conditions of the Fund, according to the following text, and the agent shall have the right to borrow from ADF through signing the contract to receive the loans, as well as sign everything that requires attendance at the ADF, alongside with solidarity with the guarantors in full payment before signing the contract.
- Identical copies of the documents, either from the issuance body or the Fund.
- Repaying the installments owed by the Fund's client or his guarantors if there was a previous dealing with the Fund
- Providing the necessary guarantees given that there must be not dues owed to the Fund by the guarantors.
- Presenting what proves the client’s financial solvency, a bank statement of the past six months, properties or real estate, and shares portfolio.
- Signing the form of acknowledgment and a pledge to approve the query on the customer's credit report.
- Paying the fees of the examination.
- For companies’ applications, it is important to provide a identical copies of each of the following:
- Establishment contract.
- Commercial Register.
- The last three annual budgets of the existing companies and projects.
- A record of the board members.
- A letter from the Board of Directors of the company requesting the loan with an authorization of the representative who would review the fund and conclude the contract.
- Saudization certificate.
- Letter from the General Authority Zakat and Income.
- A license for practicing the activity issued by the General Authority for Investment for foreign companies, accompanied by a photocopy of the passport for non-Saudi partners. All the conditions applied on foreign investors are also applicable on this case. These conditions are issued by the General Authority for Investment or other competent authorities.
- For the applications of cooperative associations, it is important to provide a identical copies of each of the following:
- The last two reports of the meeting of the General Assembly.
- The report of the meeting of the board of directors of the association including the loan application, and the authorization of representatives on behalf of the members of the association in reviewing the request and signing the contract.
- A copy of the assembly’s internal system, an establishment contract and the internal regulations of the association.
- A certificate of registration of the association at the Ministry of Labor and Social Affairs.
- A statement of the company's capital and its assets, explaining the activity of the association in the previous period.
- Letter of support from the Ministry of Environment, Water and Agriculture and the Council of Cooperative Societies.
- The last three budgets approved by an accounting office.
- The loaning conditions to fund indirect capital:
- Filling in the application form, with the required credit facilitations and their purpose explained.
- Presenting an overview on the activity desired to be funded.
- Signing the form of acknowledgment and a pledge to approve the query on the customer's credit report through a feature.
- A copy of the national ID in case the applicant was Saudi.
- A commercial register with the activity desired to be funded explained.
- Presenting guarantees in exchange for credit services/
- The last three annual budgets of the existing companies and projects.
- Presenting the prices or outstanding invoices of the product to be imported.
- Contract agreements with suppliers and local distributors to distribute the product if applicable.
- Adding some conditions to the general requirements for the credit services provided, such as:
- Before considering a credit application, the indebtedness of the troubled companies must be settled in the case of one of the partners whose ownership exceeds 5% apply for a credit service.
- The fixed costs of long-term investment credit services are estimated based on price offers, execution contracts and invoices, except for buildings and operating costs based on the lending rates of the Fund.
- Credit lending areas for long-term investment include all investment costs of the project components.
The stage of submitting the application for regular loans:
- A pledge by the client to approve the query by the Saudi company on the the credit data.
- The Fund's client must provide the proof documents of the national identity and official records.
- The Fund’s client must provide the licenses of practicing an activity if required later.
- There must be a legitimate agency with the right to borrow from the Fund under the name of the owner, as well as sign the contract, receive the loans and waiver and sign all that requires the presence of the agent of the Fund.
- The Fund’s client must provide a land possession document in accordance with the following:
- A title deed that meets all the legal and systematic procedures for the land that requires the borrowing.
- The deeds issued from the notaries to empty part of the described land, either with a deed issued by the court or a deed that is part of another deed with a notary, making sure that its basis is known. If it was based on a title deed that meets all the legal and systematic procedures or based on a notary or a a grant order of systems and instructions, the borrowing shall take place, given that a report must be issued according to the notary or court that issued the deed.
- If the deed presented to the Fund was a replacement for a lost or ruined deed, it shall be approved by the court or the notary.
- In all the cases above, the origin of the ownership documents must be examined.
- The deeds issued from notaries and submitted on applying for new loans must be updated and electronic.
- A distribution decision issued by the Ministry of Environment.
- Temporary documents according to generalization no. 2755, dated 24/4/1437AH.
- A government lease contract.
- The Fund's client provides guarantees in exchange for credit services, alongside with creditworthiness proof.
- The stage of presenting credit services for funding working capital of regular operating loans.
- A pledge by the client to approve the query by the Saudi company on the the credit data.
- The Fund's client must provide the proof documents of the national identity and official records.
- There must be a legitimate agency that includes the right of the agent to borrow from the Fund under the name of the owner, sign the contract, receive the loans and waiver and sign all that requires the presence of the agent related to the Fund.
- The Fund’s client provides a land possession document in accordance with the following:
- A title deed that meets all the legal and systematic procedures for the land that requires the borrowing.
- The deeds issued from the notaries to empty part of the described land, either with a deed issued by the court or a deed that is part of another deed with a notary, making sure that its basis is known. If it was based on a title deed that meets all the legal and systematic procedures or based on a notary or a a grant order of systems and instructions, the borrowing shall take place, given that a report must be issued according to the notary or court that issued the deed.
- If the deed presented to the Fund was a replacement for a lost or ruined deed, it shall be approved by the court or the notary.
- For generalization of the contract lease according to 946/T/5 ion 13/2/1430AH.
- In all the cases above, the origin of the ownership documents must be examined.
- A distribution decision issued by the Ministry of Environment.
- Temporary documents according to generalization no. 2755, dated 24/4/1437AH.
- A government lease contract.
- The Fund's client provides guarantees in exchange for credit services, alongside with creditworthiness proof.
