Service Providers

Infath assigns liquidation and sale activities to technically specialized entities to enhance the role of the private sector in expediting the recovery of rights and preserving asset values. This is achieved through engaging service providers, including companies, institutions, and specialized firms in asset valuation, marketing, sales, and other related specializations.

Service providers

Valuer

A firm licensed by the Saudi Authority for Accredited Valuers that provides valuation services for fixed and movable assets in accordance with the Center’s business rules.

Responsibilities of the Valuer at Infath:

  • Inspect the asset.
  • Study the asset and verify its documentation.
  • Conduct surveying (for real estate).
  • Prepare the valuation report in accordance with the International Valuation Standards (IVSC) recognized by relevant authorities.
  • Comply with the rules and operational manuals issued by the Center.

General Registration Requirements for an Valuer at Infath:

  • Registration on the Infath platform.
  • Fellowship certificate from the Saudi Authority for Accredited Appraisers.
  • Professional appraisal license issued by the Saudi Authority for Accredited Appraisers.
  • Commercial Registration.
  • Zakat Certificate.
  • Value Added Tax (VAT) Registration Certificate.
  • Social Insurance Certificate.
  • Bank account certificate of the entity (IBAN).
Valuer Registration

Sales Agent

A licensed entity authorized to sell fixed and movable assets, providing marketing and sales services for all assets entrusted by the Entrustment and Liquidation Center (Infath) and holding public auctions, whether in-person, electronic, or hybrid, under the supervision of Infath.

Responsibilities of a Sales Agent at Infath:

  • Ensure the readiness of assets offered for sale.
  • Conduct marketing and advertising activities prior to the auction.
  • Attract potential bidders to the auction.
  • Prepare and hold the auction.
  • Comply with the rules and operational manuals issued by the Center.

Requirements for Registration as a Sales Agent at Infath:

  • Registration on the Infath platform.
  • Judicial Sales Agent License.
  • Real Estate Auction License issued by the General Authority for Real Estate Auctions.
  • Vehicle Sales and Purchase License issued by the General Directorate of Traffic for conducting vehicle auctions.
  • Commercial Registration.
  • Zakat Certificate.
  • Value Added Tax (VAT) Registration Certificate.
  • Social Insurance Certificate.
  • Bank account certificate of the entity (IBAN number).
Sales Agent Registration

Liquidator

A specialized entity in the management and liquidation of jointly owned assets, licensed by the relevant authorities to carry out liquidation activities.

Responsibilities Related to Inheritance Liquidation:

  • Inventory and judicial study of estate assets.
  • Prepare assets of all types for sale and liquidation.
  • Accounting management of the estate.
  • Prepare financial statements.
  • Contract management.
  • Submit zakat and tax declarations.
  • Register for Value Added Tax (VAT).
  • Legal representation in court.
  • Prepare proposals for cash and in-kind distribution.
  • Calculate shares from joint assets.

Responsibilities Related to Contribution Liquidation:

  • Providing general information about the contribution.
  • Compiling a complete list of contributors.
  • Preparing a report on the contribution owner’s performance and any financial irregularities.
  • Preparing assets of all types for sale and liquidation.
  • Judicial representation.
  • Preparing legal, accounting, and engineering studies related to the contribution.
  • Reviewing the contribution’s financial statements.
  • Preparing detailed accounts of the contribution, including the income statement, financial position, and records of amounts received and disbursed to contributors.
  • Disbursing proceeds to contributors.
  • Preparing the final account.

Responsibilities Related to the Liquidation of Companies and Establishments

  • Manage the company/institution’s operations during the liquidation period.
  • Register the liquidation with the Commercial Registry.
  • Inventory and judicial custody of assets.
  • File a bankruptcy lawsuit before the competent court if the total fixed liabilities exceed the total value of liquidation assets.
  • Prepare legal, accounting, and engineering studies related to the liquidation of the company or institution and provide appropriate recommendations.
  • Prepare assets of all types for sale and liquidation.
  • Prepare financial statements.
  • Contract management.
  • Submit zakat and tax declarations.
  • Register for Value Added Tax (VAT).
  • Legal representation in court.
  • Prepare proposals for cash and in-kind distribution.
  • Calculate shares from joint assets.

Requirements for Registration of a Liquidator at Infath

  • The applicant must be a legally established company registered in accordance with the Companies Law issued by Royal Decree No. (M/132) dated 01/12/1443 AH, and must have an official place of business, a national address, and an IBAN certificate issued by a bank in the company’s name.

  • The company owner or one of the partners must hold a license to practice one of the following professions for a period of not less than three years: the legal profession, the accounting profession, or the property management profession.

  • The establishment must employ no fewer than five Saudi nationals.

  • The company must hold a Value Added Tax (VAT) registration certificate.

  • No previous decision suspending the company owner or any of the partners from practicing any of the professions specified in Paragraph (2) must have been issued.

  • The company owner and all partners must have full legal capacity, be of good conduct and reputation, and must not have been convicted of a crime involving dishonesty or breach of trust, unless their legal standing has been restored.

  • The service provider must submit an undertaking to contract with companies licensed by the competent authorities to provide supporting services for liquidation activities that fall outside the scope of the profession licensed to the service provider, or as requested by the Center.

Registration Requirements:

  • Registration on the Infath platform.
  • Professional practice license from the relevant authorities.
  • Company’s Articles of Association.
  • Commercial Registration.
  • Zakat Certificate.
  • Value Added Tax (VAT) Registration Certificate.
  • Social Insurance Certificate.
  • National Address document.
  • Bank account certificate of the entity (IBAN).
  • Certificate of Good Conduct / No Criminal Record.
  • Signed and attached declaration form.

Qualification Conditions for Assignment:

  1. Verification of fulfillment of all the registration requirements listed above.
  2. Submission of a bank guarantee of SAR 100,000, valid for the entire period of registration in the service providers’ register at the Center.
  3. Signing the terms and conditions document for the assignment of liquidation works to service providers.
Liquidator Registration