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Assigning Multiple Agents To Same Or Separate Commissions
It is permissible for one grantor to assign two or more agents to the same or separate commissions. When two or mo...
 
Concurrent Agency
Yes, the bank can appoint an agent for the pu...
 
Fees For Agency
It is lawful for the bank to serve as an agent for another firm in which...
 
Using Agency Agreement For Portfolio Management
In a portfolio management contract, the investor requires the investment manager to invest funds in various Shariah-compliant ventures.In such a contract, profit and loss is not shared between the investor and the agent but the agent is remunerated for his services. This fee may be p...
 
Agency Agreements
There are four types of agency agreements: •The disclosed agency agreement, where the agent discloses to a third party that he represents a principal with whom he shares all the rights and obligations associated with the contract. •The undisclosed agency agreement where the agent does not disclose the fact that he represents a principal. All the rights and obligations pertaining to the contract are possessed by the ...
 
Stipulating The Means Of Delivery
It is permissible for a principal to stipulate that ...
 
Settlement Of Price For Agent In Sale Or A Purchase
The setting of the price for an agent in a sale or a purchase is not a condition to the validity of the agency however, if the principal does specify a price and the agent exceeds it, the rulings pertaining to the relevant agency agreement will apply, i.e. the t...
 
Agent And Surety
If the contract of agency is inclusive of both delivering goods and collecting the money paid for them, it will be lawful for the agent to be a surety as well. If the c...
 
General Terms Of Agency
An agency accepts conditions related to time, place, deeds, amounts and deadlines in addition to all other conditions agreed to between the principal and the agent. The agent must make every effort ...
 
Permissibility Of Not Informing Buyer Or Seller About Supplier
It is lawful for the agent to not disclose to the buyer or the seller the identity of the party from which the merchandise is bought and the party to which it is sold. It is essential however, that the agent does not transgress the limits of his agency either. If the agent sells at a price low...
 
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