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  • Parallal Salam

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    awais amjad
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    Farmer will go to the market and find a party who make a contract to provide the specified wheat (according to first Salam) at a specified date (before the date of first Salam). Payment will be in advance by Purchaser.

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    Farmer will go to the market and find a party who make a contract to provide the specified wheat (according to first Salam) at a specified date (before the date of first Salam). Payment will be in advance by Purchaser.

    Copyright:

    Attribution Non-Commercial (BY-NC)
    Download as DOCX, PDF, TXT or read online from Scribd
    Flag for inappropriate content
    10 views1 page

    Parallal Salam

    Uploaded by

    awais amjad
    Farmer will go to the market and find a party who make a contract to provide the specified wheat (according to first Salam) at a specified date (before the date of first Salam). Payment will be in advance by Purchaser.

    Copyright:

    Attribution Non-Commercial (BY-NC)
    Download as DOCX, PDF, TXT or read online from Scribd
    Flag for inappropriate content
    of 1

    Salam Contract(MOU)

    Jan-2012

    Islamic Bank

    Advance Payment (Jan-2012)

    Client Delivery of commodity (April-2012) (Farmer)

    Make the Advance Payment 3rd Party (from market)

    Promise To deliver April-2012

    Risk for Client (Farmer): The risk for farmer is that wither he will be able to deliver the wheat at the date of delivery or not. And the quality of his wheat will be same as specified in the contract of Salam? Seller of Parallel Salam: Purchaser of Parallel Salam: Parallel Salam: Farmer will go to the market and find a party who make a contract to provide the specified wheat (according to first Salam) at a specified date (before the date of first Salam). And farmer made the payment in advance to that party. Conditions: This contract will be the non-contingent to the other contacts. Price of parallel Salam must be lower or equal to the first Salam. Payment will be in advance by Purchaser. The contract will be a unilateral contract. 3rd Party Farmer

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