1. Definitions:
The phrases and terms set out in these terms and conditions shall have the meaning assigned in this article (1) unless the context requires otherwise: (a) “Portal” means the Small and Medium Enterprises Bank (the "SME Bank") electronic portal, which aims to facilitate access for entrepreneurs and small and medium enterprises to financing and investment opportunities by providing a channel that enables them to view the data and services of financing and investment entities, communicate with them, and submit financing and investment requests to them. (b) “Beneficiary(ies)” means entrepreneurs or owners of small and medium enterprises registered and using the portal and its services, or any person authorized by the beneficiary to electronically log into their account on the portal to use the portal and its services. (c) “Beneficiary Account” means the beneficiary’s page on the portal, which contains their private information and data, (d) “Registration Information” means the information related to the beneficiary for the purpose of logging in to their account on the portal, including the username and password and the relevant data. (e) “Financiers” means the banks or financing entities licensed by the Saudi Central Bank to practice financing activity who are included in the portal to show their data and services to beneficiaries through their accounts on the portal. (f) “Investors” means establishments or individuals included in the portal to show their data and investment services to the beneficiaries through their accounts on the portal. (g) “Portal Partners” means the entities providing services related to the portal, including financiers, investors, entities providing support services such as the Saudi Credit Bureau (SIMAH), the Ministry of Commerce and Investment, the Ministry of Labor, Development and Social Affairs and the General Authority of Zakat and Tax (GAZT). (h) “Finance” means granting credit under contracts for activities stipulated in the Law on Supervision of Finance Companies promulgated by royal decree No. M/51 dated 13/8/1433 H (02/07/2012 AD). It includes the activity of financing small and medium enterprises or any other financing activity approved by the Saudi Central Bank. (i) “Finance Application(s)” means applications submitted by beneficiaries to the financiers listed in the portal by filling out and submitting the financing application form and the required documents and papers through the financiers’ accounts on the portal. (j) “Investment Application(s)” means the applications submitted by the beneficiaries to the investors listed in the portal by filling out and submitting the investment application form and the required documents and papers via Investors’ accounts on the portal.
2. Acceptance of Terms and Conditions:
1.2. The beneficiary hereby consents to the terms and conditions herein, and affirms their diligent perusal of said terms prior to granting their consent thereto.SME Bank shall have the right to amend these terms and conditions at any time without prior notice.
3. Obligations of SME Bank:
1.3. SME Bank shall make the portal services available for the use of beneficiaries during all days of the week, including official holidays, except for temporarily disabling some portal services for conducting maintenance or other necessary reasons.
2.3. SME Bank shall provide all instructions related to portal services in an automated manner that is easy for the beneficiary to understand and follow.
3.3. SME Bank shall provide its contact information and a mechanism for submitting complaints and suggestions via the portal.
4. Obligations of Beneficiary:
1.4. The beneficiary shall only use the portal and its services for the purposes designated therefor.
2.4. The beneficiary authorizes SME Bank to obtain any information or data relating to the beneficiary or partners with any of the portal’s partners, credit information companies, or any other relevant party for the purpose of enabling the beneficiary use the portal and its services.
3.4. The beneficiary, acting as a representative of the partners, hereby grants authorization to SME Bank to request, disclose, and exchange data, commercial information, financial statements, and other pertinent information, obtained from authorized sources, with all current and/or potential members of credit information companies.
4.4. The beneficiary is obligated to uphold the confidentiality of all information pertaining to their account on the portal, encompassing registration details..
5.4. The beneficiary is required to confirm that the browser address commences with (http) and verify presence of security symbol resembling a lock.
6.4. The beneficiary is prohibited from accessing the portal through unverified networks or devices.
7.4. The beneficiary must log in to the portal through the official portal address on the Internet, which is (https://tamweel.smebank.gov.sa) and may not log in through any other links.
8.4. I acknowledge, the status of the financing opportunity will be determined inactive if no offer is issued by the Financial Institutions after 30 working days
5. Confidentiality of Information:
5.1 SME Bank shall take requisite measures to safeguard the beneficiary's confidential information and refrain from disclosing it to any third party, except in the following circumstances:
a. For the purpose of enabling the portal partners to access information and data pertaining to the beneficiary, allowing them to utilize the portal and its services,
b. As required by the regulations in the Kingdom of Saudi Arabia, or
c. in compliance with a judicial order issued by any competent judicial authority within the Kingdom of Saudi Arabia.
5.2 SME Bank shall make the necessary actions to maintain the confidentiality of the data and information included in the beneficiary’s account and shall enable the beneficiary to show that data to financiers and investors chosen by the beneficiary.The beneficiary acknowledges that executing any request to change or update the list of financiers and investors to whom the beneficiary data is shown may take three business days.
6. Retention of Data:
The beneficiary agrees that SME Bank shall have the right to retain and process all its data and information using the technical means it deems appropriate.
7. Intellectual Property:
The beneficiary acknowledges that all trademarks, slogans, designs and logos that appear on the portal shall be deemed rights protected under the relevant intellectual property laws in the Kingdom of Saudi Arabia and are property of SME Bank or the property of a third party, whether they registered or not.
8. License to use:
The beneficiary acknowledges that viewing, printing, or downloading any content, chart, form, or document from the portal shall be deemed a license for personal use only for the purpose of benefiting from the portal and its services and not for other purposes such as copying, distribution, relicensing to others, selling, preparing similar works, or other uses.
9. Cancellation of Account
9.1 SME Bank shall have the right to terminate the beneficiary's account without advance notice should the beneficiary engage in improper use of the portal or its associated services.
9.2. The beneficiary shall have the right to cancel their account on the portal through the available mechanisms approved by SME Bank.
10. Limitation of Liability
10.1. The beneficiary acknowledges that registering on the Portal does not guarantee obtaining financing or investment opportunities from financers or investors.
10.2. The beneficiary acknowledges that the inclusion of financiers or investors by SME Bank on the portal and the presentation of their financial and investment services shall not, under any circumstances, be deemed as mediation, endorsement, or promotion by SME Bank for financiers, investors, or their services.
10.3. SME Bank absolves itself of responsibility for links to other websites included in the portal by financiers and investors, as well as for the content of those websites and the information or data contained therein.
10.4. SME Bank is not responsible for any loss, damage or claim that arises from the breach by the beneficiary to any of these terms and conditions.
10.5. The beneficiary acknowledges that their acceptance of the financing offer is considered preliminary, as the offer is preliminary based on the information provided by the beneficiary, and it does not entail any obligations. The offer is considered to be final after fulfilling all requirements.
11. Waiver
Any default or delay by SME Bank in exercising any of its rights or powers shall not be deemed as waiver of that right.
12. Applicable Law and Jurisdiction:
These terms and conditions are subject to and are interpreted in accordance with the laws of the Kingdom of Saudi Arabia. Should any disagreement or dispute arise, it shall be settled by the courts of competent jurisdiction in the Kingdom of Saudi Arabia.
• Declaration for Kafalah Program (Guarantee for financing of SME)
“I, the beneficiary, acknowledge my full legal capacity and consent to provide the Kafalah Program for financing SME with any information required to open and/or audit my credit facilities and that Kafalah Program will make all the required credit studies for the enterprise as per the work of the program. Moreover, I authorize Kafalah Program for financing SME to collect and review any necessary data related to me, my establishment, or any subsequent facilities from the Saudi Credit Bureau (SIMAH) and access such information. Moreover, I hereby approve that Saudi Credit Bureau (SIMAH) discloses and shares my information and details with all its current and possible members (under the information sharing agreement) or with any entity approved by Saudi Central Bank. Moreover, I approve that Kafalah Program for financing SME reviews the financial statements of the enterprise in “Qawaem” Program and reviews the credit reports and financial statements in Bayan Credit Bureau.”
•Declaration for SME Bank:
“I, the beneficiary, acknowledge my full legal capacity and that I agree on providing SME Bank with any information required to open and/or audit my credit facilities and that SME Bank will make all the required credit studies for the enterprise as per the work of SME Bank.
Moreover, I hereby approve that SME Bank discloses and shares my information and details with all its current and possible members (under the information sharing agreement) or with any entity approved by Saudi Central Bank.
Moreover, I authorize SME Bank to collect and peruse any of my details and details of the establishment or of any subsequent facilities from Saudi Credit Bureau (SIMAH) and share them with all current and possible members (by virtue of information sharing agreements) or with any entity approved by Saudi Central Bank.
Moreover, I authorize SME Bank to collect and review any data related to me, my establishment, or any subsequent facilities from Bayan Credit Bureau and share them with all current and possible members (by virtue of information sharing agreements) or with any entity approved by Saudi Central Bank.”
• Declaration for Saudi Credit Bureau (SIMAH)
“I, the Beneficiary, having full legal capacity, hereby declare that I agree on providing SME Bank with any information required to open, review and/or manage my account with the Company. I hereby authorize the Company to collect any required or necessary information related to me, to the said account or any other account that may belong to the Company from Saudi Credit Bureau (SIMAH).
Moreover, I agree that the Company discloses and shares any information related to me and my said account or any other account of the authorized to Saudi Credit Bureau (SIMAH) by virtue of a membership agreement concluded and prescribed work rules of exchanging information and/or to any other entity approved by Saudi Central Bank (SAMA).
