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Bank Obtaining Discounts From Contractor In Istisna
It is permissible for the bank to obtain discounts from the contractor without passing them on to the requestor since these are two separate...
 
Bank Obtaining Discounts From Subcontractor In Istisna
The subcontractor is hired by the lead contractor and the bank is not a party to the contract between them. It would not be permissible for the...
 
Construction Work Under Istisna Contract
Such an arrangement is permissible under an Istisna contract, based on the following procedure/conditions:

• The land owner would hand...
 
Financier's Rejection Of Goods In Istisna
The financier reserves the right to reject products not manufactured to specification, though must accept items manufactured equal to or superior...
 
The Financier May Also Be Manufacturer In Istisna Agreement
It is permissible for the financier to play the role of manufacturer: for example, a financial intermediary like a bank can enter into an Istisna...
 
Receiving Share Of Manufactured Product As Consideration In Istisna Contract
It is permissible in an Istisna to manufacture a mutually agreed upon item and retain, as consideration, a specified share of the manufactured...
 
Contracting With Client Who Failed To Honor Previous Contracts With Other Parties
It is permissible to contract with such a client. The client must first be asked to rescind its previous contract with the contractor according to...
 
Tying Price And Delivery In Istisna
Both parties may agree to link the price of the product with the timeliness of its delivery; and the financier is entitled to unilaterally cancel...
 
Deferred Sale Under Istisna Contract
It is permissible to contract an Istisna agreement in which an under-construction sale asset will be delivered in the future upon completion, while...
 
Offering Istisna Customer Lower Spot Price And Higher Deferred Price
Only prior to the final agreement, it is permissible for the bank to give its customer the option of either paying a standard spot price or a...
 


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