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The Definition Of Arbun
Arbun is a down payment that is made at the time of the execution of a contract. It is considered a part of the price of the asset in the contract in the event that the client makes all his payments on time. If he fails to do so, the con...
 
The Definition Of Haamish Jiddiah
The term Haamish refers to margin and Jiddiah refers to sincerity. Haamish Jiddiah is a security deposit taken before the execution of a contract. It is deposited by the purchaser to ensure that if he fails to keep his "promise to purchase," it compensates the financial in...
 
Shart e Jazai
The Shart e Jazai is a penalty that allows for a reduction in the price of manufactured goods if there is a delay in the delivery. Such a penalty is permitted in manufacturing contracts since the buyer requires goods at a fixed time. ...
 


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