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Agent’s Contravention Of Specific Instructions
Contraventions to the specific instructions of a commission render transactions related to the commission invalid, unless the instructions are not...
Contraventions to the specific instructions of a commission render transactions related to the commission invalid, unless the instructions are not...
Fees For Processing Documents
It is lawful for the bank to accept a fee for the services it performs as an agent on behalf of the payer or payee bank.
It is lawful for the bank to accept a fee for the services it performs as an agent on behalf of the payer or payee bank.
When Agent Becomes Guarantor
It is lawful for the principal to stipulate that the agent not sell except for cash and if he does sell for credit, that he become the buyer’s...
It is lawful for the principal to stipulate that the agent not sell except for cash and if he does sell for credit, that he become the buyer’s...
The Extent Of Agent’s Liability
An agent is not considered a guarantor except in cases of shortcoming or transgression. Merchandise in his possession is considered a trust.
An agent is not considered a guarantor except in cases of shortcoming or transgression. Merchandise in his possession is considered a trust.
It is permissible for one grantor to assign two or more agents to the same or separate commissions. When two or more agents are assigned to the...
Fees For Agency
It is lawful for the bank to serve as an agent for another firm in which case it is permissible for it to accept a fee in return for its agency.
It is lawful for the bank to serve as an agent for another firm in which case it is permissible for it to accept a fee in return for its agency.
Concurrent Agency
Yes, the bank can appoint an agent for the purpose of both purchasing and taking delivery.
Yes, the bank can appoint an agent for the purpose of both purchasing and taking delivery.
There is no legal impediment to granting agency to one person for purchasing and then selling.
Identifying Oneself As Agent
It is not a Shariah requirement that the agent specify at the time of purchase that he is serving as the bank’s agent. However, for purposes of...
It is not a Shariah requirement that the agent specify at the time of purchase that he is serving as the bank’s agent. However, for purposes of...
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