اَللَّهُمَّ صَلِّ عَلَى سَيِّدِنَا مُحَمَّدٍ صَلَاةً تُنْجِينَا بِهَا مِنْ جَمِيعِ الْأَهْوَالِ وَالْآفَاتِ، وَتَقْضِي لَنَا بِهَا جَمِيعَ الْحَاجَاتِ
Transliteration
Allahumma salli 'ala sayyidina Muhammadin salatan tunjina biha min jami'il-ahwali wal-afati, wa taqdi lana biha jami'al-hajat
English meaning
O Allah, send blessings upon our master Muhammad — blessings by which You save us from all fears and afflictions and fulfill all our needs through them.
When is it recited?
In times of distress and on Friday.
Source
Classical tradition