بيع السلم
English translation: forward buying
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| 07:14 Aug 7, 2015 |
| Arabic to English translations [PRO] Bus/Financial - Finance (general) / Finance | |||||
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|  Selected response from: Muhammad Said Egypt Local time: 21:01 | ||||
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| 5 +1 | forward buying |
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| 5 | Salam Sale |
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Answers
5 mins confidence: 
peer agreement (net): +1
peer agreement (net): +1forward buying Explanation: Bai’ al-Salam (بيع السلم) A contract of sale whereby the purchase price is paid in advance and the goods are delivered later. This method of sale is an exception to the rule that no sale can be affected unless the goods are in existence at the time of the bargain, provided that the goods are defined and the date of delivery is fixed. The objects of this method of sale must be items that can be specifically described as to quantity, quality and specifications. The amount paid upfront as salaf cannot be called back before the merchandise due to be delivered. Reference: http://www.almaany.com/en/dict/ar-en/%D8%A8%D9%8A%D8%B9/?cat... Reference: http://gascia.org/glossary.html |
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30 mins confidence:
Salam Sale Explanation: Salam is a forward financing transaction, where the financial institution pays in advance for buying specified assets, which the seller will supply on a pre-agreed date. What is given in exchange for the advance payment of the price should not in itself be in the nature of money. For the payment in advance, the contracting parties stipulate a future date for the supply of goods of specified quantity and quality. Example sentence(s):
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Notes to answerer
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