Tharwah’s unit enters training partnership with King Saud University

Tharwah announced that its training subsidiary has signed a three-year partnership agreement with King Saud University to deliver accredited training programs under a revenue-sharing model.

Altharwah Albashariyyah Co.’s (Tharwah) wholly owned subsidiary, Tharwah High Institute for Training Co. (Tharwa Academy) signed, on Jan. 1, a partnership agreement with King Saud University to provide training programs and professional certification courses in accordance with the programs approved in the agreement’s appendices and the agreed implementation, coordination, and accreditation mechanisms, according to a statement to Tadawul.

The agreement, which has a duration of three years from the signing date, does not renew automatically and may be renewed through a written agreement between the two parties at least 60 days prior to its expiry.

The relevant financial impact is expected to reflect on Tharwa Academy through its share of revenue from programs and trainee registrations, in line with the revenue-sharing mechanism stipulated in the agreement. The exact value and timing of this impact will be determined after the commencement of program.

The company noted that if no trainees are registered or no programs are implemented during the term of the agreement, no financial obligations shall arise for either party.

Either party has the right to terminate the agreement with a written notice of 30 days, in accordance with the agreement’s terms, while ensuring the completion of ongoing programs in line with the governing provisions.

There are no related parties involved, the statement added.