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Default In Delivery Of Salam Subject Matter
How is a default in the delivery of the subject matter dealt with in a Salam?
If at maturity the seller is unable to deliver the subject matter, the buyer may exercise one of the following three options: 1. Wait until the seller is able to make the delivery. 2. Cancel the sale and ask for a refund of the original price. 3. Agree to a change of subject matter based on certain conditions. If the buyer wishes to cancel the contract and the seller defaults in refunding the price, the bank liquidates the security and recovers its costs.

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