Istisna definition

Istisna means a contractual agreement for manufacturing goods and commodities, allowing cash payment in advance and future delivery or a future payment and future delivery.

AI-Powered Contracts

Draft, Review & Redline at the Speed of AI

Istisna a Receivables" means the receivables under a contract (other than in respect of Disbursing Istisna'a Assets) whereby the ICD has sold and delivered to a beneficiary certain assets at a determined price to be paid over an agreed period;

Istisna means a contract of sale of a described asset or

Examples of Istisna in a sentence

That the Modaraba agrees to sell and the Customer agrees to purchase the Goods (financed through Istisna Agreement dated ) from the Modaraba at the price of Rs.
If prior to the completion of the Istisna Milestones by the Developer, an Event of Default occurs or it becomes illegal in any applicable jurisdiction or under any applicable laws or regulations for the Developer to share the proceeds of the Istisna; the Parties mutually agree that the Istisna Investment shall be immediately and automatically cancelled, and the Developer shall immediately refund the Investor (via the Company) all monies advanced or paid to it.
The Istisna contract or the contract of contracting in Islamic jurisprudence, a comparative study, College of Education, ▇▇▇▇ ▇▇▇▇▇▇ University, new edition 1984, first edition 1979.
Capital One 542029546 Accounts Payable Account deposit account 1917 IOC-▇▇▇▇▇▇▇▇▇, Inc.

More Definitions of Istisna

Istisna means the order for the manufacture of goods at an agreed price. According to a Hadith, “The Prophet prohibited sale of non-existing objects but he permitted salam. The general prohibition in this Hadith would equally apply to istisna’ as in this case to the object of sale in non-exiting at the time of contract. But since istisna‘ was commonly practiced among people of all ages, the jurists have validated it on the grounds of general ‘urf.”

Istisna a” means a contract for the acquisition of goods that requires the manufacturing or processing whereby one of the parties agrees to deliver the goods, manufactured or processed, for a fixed price, the payment of which is made by the other party according to the set terms.

Istisna a Asset" means a Mudaraba Istisna'a Asset or a Wakala Istisna'a Asset as applicable;

Istisna a Asset” means a Mudaraba Istisna’a Asset or a Wakala Istisna’a Asset as applicable;

Istisna. Instalment Notice means a notice substantially in the form contained in Schedule 2 (Istisna’ Instalment Notice).