"SAUDI COMMERCIAL AGENCY REGULATIONS"

Remarks of Abdul W. Wohabe, Wohabe Law Offices, at the World Trade Center, New Orleans, Louisiana June 25, 1997.

OUTLINE

• AN INTRODUCTION TO THE SAUDI COMMERCIAL AGENCY REGULATIONS.
• REGULATIONS NOT APPLICABLE TO DIRECT SALES.
• POLICY CONSIDERATIONS BEHIND THE AGENCY REGULATIONS.
• DESCRIPTION OF A COMMERCIAL AGENT AND DISTRIBUTOR.
• THE MODEL AGENCY AGREEMENT.
• THE TWO PARTS OF THE AGENCY AGREEMENT -- ONE PART FOR PUBLIC REGISTRATION, AND ONE PART FOR CONFIDENTIAL TERMS.
• TYPICAL TERMS OF THE AGENCY AGREEMENT.
• EXCLUSIVITY.
• PROTECTION OF INTELLECTUAL PROPERTY.
• TERMINATION.
• CONCLUSION.
• QUESTIONS AND ANSWERS.

INTRODUCTION

YOU HAVE HEARD FROM SEVERAL SPEAKERS TODAY ABOUT THE COMMERCIAL OPPORTUNITIES TO SELL PRODUCTS AND SERVICES FROM LOUISIANA INTO THE SAUDI ARABIAN MARKET. I WILL BE DISCUSSING A SET OF SAUDI LAWS KNOWN AS THE "COMMERCIAL AGENCY REGULATIONS" THAT APPLY TO THE SALE, MARKETING AND DISTRIBUTION OF FOREIGN GOODS IN THE KINGDOM. AS THE NAME MIGHT IMPLY, THESE REGULATIONS REQUIRE FOREIGN SUPPLIERS OF GOODS TO APPOINT A SAUDI AGENT OR DISTRIBUTOR TO PERFORM CERTAIN IN-KINGDOM SALES AND MARKETING ACTIVITIES.

SAUDI COMMERCIAL AGENCY REGULATIONS - REGULATIONS NOT APPLICABLE TO DIRECT SALES

BUT BEFORE I DESCRIBE THESE REGULATIONS, I SHOULD FIRST TELL YOU WHEN THEY DON'T APPLY. SPECIFICALLY, THE COMMERCIAL AGENCY REGULATIONS ARE NOT APPLICABLE TO THE DIRECT SALE OF PRODUCTS BY A FOREIGN SUPPLIER TO A CUSTOMER IN SAUDI ARABIA, FOR EXAMPLE ON AN F.O.B. OR C.I.F. BASIS. FOR THE FOREIGN SUPPLIER MAKING ONLY OCCASIONAL SALES DIRECTLY TO CUSTOMERS IN SAUDI ARABIA THAT IS NOT LOOKING TO EXPAND THE MARKET FOR ITS PRODUCTS THROUGH IN-KINGDOM SALES AND MARKETING ACTIVITIES, THERE WOULD BE NO NEED TO APPOINT A SAUDI COMMERCIAL AGENT.

WHERE THE AGENCY REGULATIONS ARE APPLICABLE

BUT FOR A U.S. COMPANY THAT WANTS TO PARTICIPATE DIRECTLY IN ONGOING SALES OR MARKETING ACTIVITIES WITHIN SAUDI ARABIA, SAUDI LAW REQUIRES SUCH ACTIVITIES TO BE UNDERTAKEN IN CONJUNCTION WITH A LOCAL PERSON OR COMPANY KNOWN AS AN "AGENT" OR A "DISTRIBUTOR" PURSUANT TO THE COMMERCIAL AGENCY REGULATIONS. SO, FOR EXAMPLE, IF A FOREIGN SUPPLIER WISHES TO PROMOTE ITS PRODUCTS THROUGH OR IN CONJUNCTION WITH A LOCAL SALES OFFICE, OR TO HAVE A REPRESENTATIVE SOLICIT ORDERS FOR ITS PRODUCTS IN SAUDI ARABIA, IT MUST DO SO THROUGH A SAUDI AGENT. SIMILARLY, A FOREIGN SUPPLIER MUST ALSO USE A LOCAL AGENT TO PERFORM CUSTOMS CLEARANCE FUNCTIONS, TO TRANSPORT OR STORE GOODS, OR TO PROVIDE ONGOING TECHNICAL AND AFTER-SALES SUPPORT SERVICES IN SAUDI ARABIA. SO FOR A COMPANY THAT WISHES TO FULLY EXPLOIT THE SALES OPPORTUNITIES OF THAT MARKET THROUGH SALES AND MARKETING ACTIVITIES, ITS ONLY OPTION IS TO ENTER INTO A CONTRACTUAL RELATIONSHIP WITH A SAUDI COMMERCIAL AGENT FOR THIS PURPOSE.

POLICY CONSIDERATIONS

BEFORE I TURN TO THE SPECIFIC PROVISIONS OF THE COMMERCIAL AGENCY REGULATIONS, IT IS WORTH SPENDING A MINUTE TALKING ABOUT THE PUBLIC POLICY CONSIDERATIONS THAT UNDERLIE THESE REGULATIONS. HISTORICALLY, THE SAUDI MARKET HAS BEEN HIGHLY DEPENDENT ON FOREIGN SOURCES OF GOODS AND SERVICES. WHILE THIS HISTORICAL DEPENDENCE HAS MADE SAUDI ARABIA AN ATTRACTIVE MARKET FOR FOREIGN SUPPLIERS, IT HAS ALSO HURT SAUDI CONSUMERS IN SEVERAL WAYS. SPECIFICALLY, IT HAS IN THE PAST LED TO FAILURE TO HONOR WARRANTY SERVICES AND HAS LED TO SHORTAGES OF SPARE PARTS AND EQUIPMENT, AND THE SUDDEN WITHDRAWAL FROM THE MARKET BY SUPPLIERS. AS I'LL DISCUSS IN MORE DETAIL, BY MAKING THE LOCAL AGENT RESPONSIBLE TO PROVIDE AFTER-SALE WARRANTY SERVICING AND TO MAINTAIN AN INVENTORY OF SPARE PARTS, THE AGENCY REGULATIONS ARE INTENDED TO PROTECT THE LOCAL MARKET AGAINST THESE CONSUMER ABUSES.

DESCRIPTION OF A COMMERCIAL AGENT

SO WHAT IS A COMMERCIAL AGENT? A COMMERCIAL AGENT IS A SAUDI PERSON OR COMPANY APPOINTED UNDER A WRITTEN AGREEMENT BY A FOREIGN SUPPLIER OF GOODS TO PERFORM CERTAIN SERVICES RELATING TO THE PROMOTION, MARKETING, SELLING, AND SERVICING OF THE SUPPLIER'S PRODUCT OR PRODUCTS IN SAUDI ARABIA. I SHOULD MENTION THAT A COMMERCIAL AGENT IS NOT GENERALLY A LEGAL AGENT IN THE AMERICAN SENSE OF THE WORD; THAT IS, AN AGENT WITH THE POWER TO ACT FOR AND ENGAGE OBLIGATIONS ON BEHALF OF THE PRINCIPAL.

THE AGENT GENERALLY ENJOYS CERTAIN OTHER IMPORTANT RIGHTS, SUCH AS THE EXCLUSIVE RIGHT TO MARKET THE SUBJECT PRODUCT WITHIN ALL OR A DEFINED PORTION OF SAUDI ARABIA. UNDER SAUDI LAW, THE AGENT ALSO HAS THE RIGHT TO CLAIM COMPENSATION FROM THE PRINCIPAL IN THE EVENT THAT THE AGENCY RELATIONSHIP IS TERMINATED OR NOT RENEWED DUE TO NO FAULT ON THE PART OF THE AGENT.

THE MOST DOMINANT FORM OF AGENCY IS THAT OF DISTRIBUTORSHIP AND AGENCY RELATIONSHIP. A DISTRIBUTOR BUYS THE SUPPLIER'S PRODUCTS FOR HIS OWN ACCOUNT AT A DISCOUNT AND RESELLS THEM IN THE SAUDI MARKET AT A MARK-UP (THIS CONTRAST WITH AN AGENT, WHICH ACTS AS A BROKER FOR THE SALE OF THE SUPPLIER'S PRODUCT IN RESPECT OF A SALES COMMISSION). BUT THE REGULATIONS WE ARE DISCUSSING APPLY TO BOTH AGENTS AND DISTRIBUTORS, AND FOR SIMPLICITY'S SAKE, WHEN I REFER TO AGENTS, IT SHOULD BE UNDERSTOOD THAT THE REGULATIONS ALSO APPLY TO DISTRIBUTORS.

THE MODEL AGENCY AGREEMENT

IT IS IMPORTANT THAT THE AGENCY AGREEMENT THAT DEFINES THE RELATIONSHIP BETWEEN THE PRINCIPAL AND AGENT BE CAREFULLY DRAFTED TO DESCRIBE THE RESPECTIVE RIGHTS AND DUTIES OF THE AGENT AND THE PRINCIPAL. SO LET ME TELL YOU A BIT ABOUT THE AGENCY AGREEMENT.

THE SAUDI MINISTRY OF COMMERCE HAS ISSUED A MODEL COMMERCIAL AGENCY AGREEMENT FOR USE BY PARTIES ENTERING INTO A COMMERCIAL AGENCY RELATIONSHIP. PURSUANT TO THE REGULATIONS, THE AGENCY AGREEMENT MUST ADDRESS CERTAIN TERMS OF THE AGENCY RELATIONSHIP, SUCH AS: THE IDENTITY AND NATIONALITY OF THE PARTIES; THE TERRITORY AND PRODUCTS COVERED BY THE AGENCY; AND THE ACTIVITIES TO BE PERFORMED BY THE AGENT. THE AGENCY AGREEMENT MUST ALSO DESCRIBE THE ARRANGEMENTS TO PROVIDE CONSUMERS WITH MAINTENANCE SERVICE AND SPARE PARTS; THE TERM OF THE AGREEMENT AND HOW IT IS TO BE RENEWED; AND HOW THE AGREEMENT IS TO BE TERMINATED.

HOWEVER, THE USE OF THE MODEL AGREEMENT IS NOT MANDATORY, AND THE PARTIES ARE FREE TO MODIFY OR EXPAND ON THE TERMS OF THE MODEL AGREEMENT. IT IS THE DUTY OF THE SAUDI AGENT TO REGISTER ITSELF AS A COMMERCIAL AGENT, AND TO REGISTER THE APPLICABLE AGENCY AGREEMENT WITH THE MINISTRY OF COMMERCE, WHICH MAINTAINS A PUBLIC REGISTRY FOR THIS PURPOSE. AS THE REGISTRAR IS MOST FAMILIAR WITH THE MODEL FORM, TO EXPEDITE ITS REGISTRATION, MOST PARTIES OPT TO USE THE MODEL FORM FOR REGISTRATION PURPOSES.

THE AGENCY AGREEMENT SHOULD BE DRAFTED IN TWO PARTS

YOU SHOULD KNOW THAT UPON REGISTRATION, THE FILED AGENCY AGREEMENT BECOMES A PUBLICLY AVAILABLE DOCUMENT. ACCORDINGLY, IN ORDER TO ENSURE THAT THE SENSITIVE OR CONFIDENTIAL BUSINESS TERMS OF AN AGENCY AGREEMENT DO NOT BECOME PUBLICLY AVAILABLE, WE ADVISE OUR CLIENTS TO ENTER INTO AN AGENCY AGREEMENT CONSISTING OF TWO PARTS. THE FIRST IS THE MODEL AGENCY AGREEMENT, WHICH CAN BE DRAFTED IN A RELATIVELY BARE-BONES WAY TO AVOID THE DISCLOSURE OF SENSITIVE BUSINESS INFORMATION. IT IS THIS AGREEMENT THAT THE AGENT SHOULD FILE IN THE PUBLIC REGISTRY.

THE SECOND PART OF THE AGREEMENT, WHICH ARE FREQUENTLY REFERRED TO AS THE "GUIDELINES", SHOULD BE REFERENCED IN THE FILED PORTION OF THE AGREEMENT, BUT SHOULD NOT BE FILLED OR OTHERWISE MADE PUBLICLY AVAILABLE. FOR THIS REASON, THE GUIDELINES PORTION OF THE AGREEMENT SHOULD CONTAIN SUBSTANTIALLY MORE DETAIL REGARDING THE SPECIFIC RIGHTS AND OBLIGATIONS OF THE PARTIES AND THE TERMS OF THE AGENCY RELATIONSHIP, SUCH AS THE AGENCY COMMISSION OR PRODUCT PRICING SCHEDULE, AND ANY OTHER SENSITIVE INFORMATION. HOWEVER, BECAUSE THE PROVISIONS OF THE REGISTERED PORTION OF THE AGREEMENT WILL PREVAIL IN THE EVENT OF A CONFLICT BETWEEN ITS TERMS AND THE TERMS OF THE NON-FILED GUIDELINES, IT IS IMPORTANT THAT THESE TWO PARTS OF THE DOCUMENT BE CAREFULLY HARMONIZED.

TYPICAL ADDITIONAL TERMS OF THE AGENCY AGREEMENT

WITHOUT GOING INTO TOO MUCH DETAIL, I WOULD LIKE TO GIVE YOU A BRIEF SUMMARY OF SOME ADDITIONAL MATTERS THAT THE AGENCY AGREEMENT SHOULD ADDRESS. FIRST, THE AGREEMENT SHOULD SET OUT OBJECTIVE STANDARDS SUCH AS A MINIMUM SALES GOAL FOR THE PRODUCT THAT THE AGENT MUST ACHIEVE DURING THE TERM OF THE AGREEMENT. AND THE AGREEMENT SHOULD PROVIDE THAT THE SUPPLIER WILL HAVE THE RIGHT TO TERMINATE THE AGREEMENT IF THE AGENT FAILS TO ACHIEVE THESE MINIMUM STANDARDS.

ANOTHER MATTER THAT SHOULD BE COVERED BY THESE AGREEMENTS ARE DETAILED INSTRUCTIONS RELATING TO THE MARKETING OF THE PRINCIPAL'S PRODUCTS THAT THE AGENT IS REQUIRED TO COMPLY WITH. FOR EXAMPLE, THE AGREEMENT COULD REQUIRE THE AGENT TO HIRE A CERTAIN MINIMUM NUMBER OF EXPERIENCED SALES AND MARKETING PERSONNEL TO WORK FULL-TIME IN PROMOTING THE PRODUCT.

THE AGREEMENT ALSO FREQUENTLY SETS OUT THE RIGHT OR DUTY OF THE PRINCIPAL TO SEND ONE OR MORE EMPLOYEES TO SAUDI ARABIA TO PERMIT THE AGENT TO UTILIZE THE TECHNICAL, PROFESSIONAL AND/OR MARKETING SKILLS AND SERVICES OF SUCH PERSONNEL. THE AGREEMENT SHOULD PROVIDE THAT THE AGENT WILL SPONSOR THESE PERSONNEL TO PERMIT THEM TO ENTER AND PERFORM THEIR SERVICES IN THE KINGDOM.

AND AS I'VE MENTIONED BRIEFLY, ONE OF THE PRIMARY POLICIES BEHIND THE AGENCY REGULATIONS IS TO ENSURE THE AVAILABILITY OF AFTER-MARKET MAINTENANCE, SPARE PARTS AND SERVICING OF PRODUCTS SOLD IN THE KINGDOM. ACCORDINGLY, THE SAUDI AGENCY REGULATIONS IMPOSE ON THE LOCAL AGENT A VARIETY OF OBLIGATIONS TO DOMESTIC CONSUMERS WITH RESPECT TO THE PRODUCTS THAT ARE THE SUBJECT OF ITS AGENCY. FOR EXAMPLE, THE REGULATIONS REQUIRE THE AGENT TO KEEP ON HAND AN ADEQUATE SUPPLY OF SPARE PARTS FOR THE SUBJECT PRODUCTS. THE REGULATIONS ALSO REQUIRE THE AGENT TO ENSURE THE AVAILABILITY OF NECESSARY MAINTENANCE FOR THE PRODUCT AT REASONABLE COST, TO GUARANTEE THAT THE PRODUCT MEETS ANY APPLICABLE SAUDI QUALITY STANDARDS, AND TO ENSURE THE AVAILABILITY OF WARRANTY PROVISIONS NORMALLY GIVEN BY THE PRODUCER. THESE OBLIGATIONS APPLY TO THE REGISTERED AGENT DURING THE TERM OF THE AGENCY AGREEMENT, AND FOR ONE YEAR THEREAFTER (OR UNTIL A SUCCESSOR AGENT HAS BEEN APPOINTED).

STRICTLY SPEAKING, UNDER THE REGULATIONS, THESE OBLIGATIONS APPLY ONLY TO THE LOCAL AGENT, AND NOT TO THE FOREIGN SUPPLIER. AS A PRACTICAL MATTER, HOWEVER, THE AGENT WILL ALMOST UNIVERSALLY FULFILL THESE OBLIGATIONS THROUGH APPROPRIATE BACK-TO-BACK PROVISIONS IN THE AGENCY AGREEMENT THAT MAKE THE FOREIGN SUPPLIER RESPONSIBLE TO THE AGENT FOR THESE OBLIGATIONS.

EXCLUSIVITY

HAVING GIVEN YOU AN OUTLINE OF TYPICAL AGENCY AGREEMENT TERMS, I WANT TO SPEND A MINUTE TALKING ABOUT THE GENERAL NEED FOR THE AGENCY RELATIONSHIP TO BE AN EXCLUSIVE ONE. THE REGULATIONS DO NOT REQUIRE THAT THE AGENCY BE EXCLUSIVE EITHER FOR A GIVEN PRODUCT OR WITHIN A PARTICULAR TERRITORY WITHIN SAUDI ARABIA. HOWEVER, AS A PRACTICAL MATTER, IT WILL BE EXTREMELY DIFFICULT TO ATTRACT AND MOTIVATE A REPUTABLE SAUDI AGENT TO REPRESENT YOU AS A FOREIGN SUPPLIER UNLESS YOU OFFER THE AGENT THE EXCLUSIVE RIGHT TO REPRESENT A GIVEN PRODUCT OR PRODUCTS IN ALL OF SAUDI ARABIA, OR WITHIN A DEFINED TERRITORY WITHIN SAUDI ARABIA. SO WHEN WE TALK ABOUT APPOINTING A SAUDI COMMERCIAL AGENT, WE ARE ALMOST ALWAYS REFERRING TO AN AGENT THAT HAS THE EXCLUSIVE RIGHT TO REPRESENT GIVEN PRODUCTS IN A GIVEN TERRITORY.

GRANTING EXCLUSIVE RIGHTS TO A LOCAL AGENT IS INTENDED TO MOTIVATE THE LOCAL AGENT TO UNDERTAKE NECESSARY INVESTMENTS IN INFRASTRUCTURE (SUCH AS WAREHOUSES, SHOWROOMS, OFFICES AND SALES FORCE) AND ENGAGE IN VIGOROUS SALES AND MARKETING EFFORTS ON BEHALF OF THE PRODUCT. GRANTING EXCLUSIVE RIGHTS IN A PRODUCT ALSO PERMITS THE AGENT TO WORK WITH SAUDI CUSTOMS OFFICIALS TO EXCLUDE FROM THE KINGDOM UNAUTHORIZED PRODUCTS, SUCH AS SO-CALLED "GREY-MARKET" PRODUCTS (WHICH ARE GENUINE PRODUCTS THAT HAVE BEEN IMPROPERLY DIVERTED TO THE SAUDI MARKET FOR RESALE) AND COUNTERFEIT PRODUCTS. THIS AUTHORITY CAN HELP TO PREVENT THE DILUTION OF THE SAUDI MARKET FOR THE SUBJECT PRODUCT.

PROTECTION OF INTELLECTUAL PROPERTY

AN EXCLUSIVE AGENT CAN ALSO PLAY AN IMPORTANT ROLE IN THE PROMOTION AND PROTECTION OF THE SUPPLIER'S INTELLECTUAL PROPERTY -- HIS TRADEMARKS, SERVICE MARKS AND COPYRIGHTS -- IN THE KINGDOM. THE AGENCY AGREEMENT SHOULD SPELL OUT THE AGENT'S RIGHT TO USE THE TRADEMARKS OF THE SUPPLIER IN MARKETING AND ADVERTISING THE SUBJECT PRODUCTS. THE AGREEMENT MIGHT ALSO IMPOSE CERTAIN DUTIES ON THE AGENT, SUCH AS THE DUTY TO REGISTER THE SUPPLIER'S TRADEMARK IN SAUDI ARABIA, AND THE DUTY TO PROSECUTE ANY VIOLATION OF THE MARKS IN THE KINGDOM ON THE SUPPLIER'S BEHALF.

TERMINATION

THE LAST ISSUE RELATING TO SAUDI AGENCY LAW THAT I'LL DISCUSS IS THE RIGHTS AND OBLIGATIONS OF THE PARTIES UPON THE TERMINATION OF THE AGENCY RELATIONSHIP. NOT SURPRISINGLY, IN ADDITION TO THE BENEFITS OF THE AGENCY RELATIONSHIP COMES A POTENTIAL LIABILITY FOR THE FOREIGN SUPPLIER. SPECIFICALLY, IN THE EVENT THAT AN AGENCY AGREEMENT IS TERMINATED OR NOT RENEWED DUE TO NO FAULT ON THE PART OF THE AGENT, THE TERMINATED SAUDI AGENT HAS THE RIGHT TO CLAIM COMPENSATION FROM THE PRINCIPAL FOR THE APPARENT OR EXPECTED BENEFITS THAT THE AGENT'S EFFORTS HAVE CONFERRED ON THE PRODUCT AND ON ANY SUCCESSOR AGENT. IN EFFECT, THE AGENT BEING TERMINATED HAS THE RIGHT TO CLAIM COMPENSATION FOR THE "GOODWILL" THAT HIS EFFORTS HAVE CONTRIBUTED TO THE PRODUCT AND A SHARE OF THE FUTURE PROFITS THAT ARE ANTICIPATED TO BE DERIVED FROM THE PRODUCT.

IN ADDITION, THE TERMINATED AGENT MAY CLAIM COMPENSATION FOR THE UNAMORTIZED EXPENSES THAT IT HAS INCURRED IN CONNECTION WITH THE AGENCY, SUCH AS THE COSTS INCURRED IN RENTING OR BUILDING A SHOWROOM OR WAREHOUSE, FOR HIRING EMPLOYEES TO MARKET THE PRODUCT, FOR ESTABLISHING A SERVICE CENTER, AND FOR UNSOLD INVENTORY.

SO THE MONETARY COST OF A "WITHOUT CAUSE" TERMINATION OR NON-RENEWAL OF THE AGENCY CAN BE HIGH TO THE FOREIGN SUPPLIER. FOR THIS REASON, IT IS CRITICAL THAT THE AGENCY AGREEMENT SET OUT IN DETAIL THE CIRCUMSTANCES UNDER WHICH THE AGENT MAY BE TERMINATED OR THE AGENCY AGREEMENT NOT RENEWED FOR CAUSE, INCLUDING THE FAULT OR FAILURE OF THE AGENT TO MEET ITS SALES GOALS OR MARKETING OBLIGATIONS UNDER THE AGENCY AGREEMENT.

IT IS ALSO IMPORTANT TO NOTE THAT THIS TERMINATION LIABILITY WILL APPLY NOT ONLY WHERE THE SUPPLIER TERMINATES THE AGENT, BUT ALSO WHERE THE SUPPLIER FAILS TO RENEW THE AGENCY AT THE END OF THE SPECIFIED TERM OF THE AGENCY SET OUT IN THE AGENCY AGREEMENT. SO FOR EXAMPLE, IF THE INITIAL AGENCY AGREEMENT SPECIFIES THAT THE AGENCY WILL BE FOR A TERM OF TWO YEARS, AND AT THE END OF THE TWO YEARS THE SUPPLIER DOES NOT WISH TO RENEW THE AGENCY EVEN THOUGH THE AGENT HAS MET ITS OBLIGATIONS UNDER THE AGREEMENT, THE AGENT IS ENTITLED TO ASSERT A TERMINATION CLAIM AGAINST THE SUPPLIER.

CONCLUSION

I HAVE TRIED TO GIVE YOU A BRIEF OVERVIEW OF THE SAUDI LEGAL REGULATIONS THAT APPLY TO THE RETENTION OF A SAUDI AGENT OR DISTRIBUTOR. I HOPE THAT I HAVE NOT LEFT YOU WITH THE IMPRESSION THAT THESE REGULATIONS ARE OVERLY COMPLEX. AS WITH ANY BUSINESS RELATIONSHIP, IF YOU CHOSE YOUR SAUDI PARTNER WELL AND CAREFULLY DOCUMENT THE RIGHTS AND OBLIGATIONS OF THE PARTIES, THESE RELATIONSHIPS CAN BE MUTUALLY REWARDING.

I HOPE YOU'VE FOUND THIS INTRODUCTION TO THE SAUDI COMMERCIAL AGENCY REGULATIONS INFORMATIVE, AND I WOULD WELCOME ANY QUESTIONS YOU MIGHT HAVE.