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The Principles and Practices of Shariah in Islamic Finance - page 24 / 49

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34. Any additional direct expenses not specified in the agreement relating to a Murabahah contract which is incurred post- conclusion of the Murabahah contract shall be borne by the customer, provided that such a clause to that effect is already incorporated in the contract. These additional charges, however, shall not be taken into consideration in determining the Murabahah sales mark-up.

Illustration 7: Additional Cost of the Murabahah Contract

An IFI has fulfilled its contractual obligations with a purchase orderer by purchasing empty shipping containers. However, the purchase orderer failed to claim his assets on the stipulated delivery date, causing the IFI to incur additional port expenses. Empty containers located inside the port have a grace period of 10 days, after which charges of USD1,000 per day will be levied.The aforementioned charges are to be borne by the purchase orderer after being notified of the arrival of his shipment. These extra charges should not be part of the cost price.

35. IFI may levy a service charge for additional services rendered by IFI as requested by the purchase orderer such as to conduct a feasibility study on business needs.

Additional expenses after signing Murabahah contract

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