Murabaha Contract definition

Murabaha Contract means the Murabaha contract for sale of the Assets by the Bank to the Customer concluded upon execution of the Offer and Acceptance Notice by the Bank and countersignature by the Customer, and shall incoporate these Terms and Conditions and the relevant Application Form;

Murabaha Contract means an individual contract for the sale of Commodities at a deferred payment price and made pursuant to the Master Murabaha Agreement by the delivery of both an offer notice by the Trustee to the Buyer and the subsequent countersignature of such offer notice by the Buyer in accordance with the terms of the Master Murabaha Agreement;

Murabaha Contract means a contract created between the Seller and the Purchaser pursuant to clause 4(e) (Murabaha Contract) of the Master Murabaha Agreement by the exchange of a Notice of Offer to Purchase and a Notice of Acceptance of Offer between the Seller and the Purchaser;

Examples of Murabaha Contract in a sentence

• For the duration of the validity of the Card, the Cardholder is required to make a monthly payment under the terms of the Murabaha Contract (if any) or the Card Account Application.

• Selling Price means the deferred sale price (including a specific profit amount) of the commodities or a common share in commodities under the Murabaha Contract.

• Upon purchasing a share of the commodities and bearing the underlying transaction risks, the Principal Cardholder shall have the right either to require a physical delivery of his/her share at his/her own expenses (in accordance with the terms of the Murabaha Contract) or to sell the share to the third party.

• Under the terms of the Murabaha Contract, the Principal Cardholder (as the purchaser) will deposit in an investment account with ADIB an amount equal to the cost price specified in the Murabaha Contract by the way of security for the deferred Selling Price and the Principal Cardholder may utilize such amount in the manner agreed by ADIB (as the seller) provided the Principal Cardholder, during the deferred period of the Murabaha Contract, re-deposits a part of the utilized amount monthly.

• Murabaha Contract means the contract between the Bank and Principal Cardholder under which the Bank sells on Murabaha basis to the Principal Cardholder, for the Selling Price, identified commodities or a common share of commonly held identified commodities.

More Definitions of Murabaha Contract

Murabaha Contract means the individual contract for the sale of Commodities at a deferred purchase price and made pursuant to the provisions of the Murabaha Agreement bythe delivery of an Offer Notice by the Commodity Seller to the Commodity Purchaser and the subsequent countersignature of such Offer Notice by the Commodity Purchaser in accordance with the terms of the Murabaha Agreement;

Murabaha Contract means a contract relating to the sale of commodities or goods on a cost plus basis;

Murabaha Contract means an individual contract made pursuant to Clause 2 (Murabaha Contract) by the exchange of an Offer Notice and a corresponding Acceptance Notice between Party A and Party B.

Murabaha Contract means the murabaha contract dated on or before the date these Terms and Conditions entered into between the Bank and the Customer in respect of the provision of the Murabaha Facility.

Murabaha Contract has the meaning given in the Master Murabaha Agreement; "Put Notice" means a notice in the form set out in Schedule 4;

Murabaha Contract means a Murabaha Contract between the Cardholder Agent, as agent for the Cardholder, and the Bank pursuant to which the Cardholder Agent shall purchase from the Bank a specified quantity of commodities in accordance with the Terms and the Murabaha Terms.

Murabaha Contract means a contract in the form as set out in Appendix ‘C’ to be executed by the Parties in respect of each Murabaha Transaction in accordance with Clause 5 hereunder;