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The question

Does this sale fall under the category of salam (forward) sale and is it permissible, given that the purchase takes place after opening the letter of credit and allowing a 45-day period for preparing the shipment, then the fish are bought, prepared, and shipped with the seller's money after the buyer's approval?

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Source: FtawySummary from Ftawy's records · added here Sep 2, 20261 min readAlso available in العربية
The answer

The transaction mentioned is not a salam sale, because the seller does not receive the price in the contract session, which is what distinguishes a salam sale. The presented scenario is that the seller shows the buyer the specifications and prices of the goods. If the buyer agrees, he opens a letter of credit which the seller does not receive until after the goods are shipped. This makes the sale a sale of an absent, described item. This sale is permissible if it occurs after the seller has acquired ownership of the sold item (the fish), and the preceding procedures were a promise to sell and documentation procedures, not a sales contract, because selling something before owning it is void.

Summary from Ftawy's records · added here

Reviewed by El Fatwa's sharia committee.

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Where this answer came from
Source platform
Ftawy
Original fatwa ID
75804
Added here
. This is when the answer was added to El Fatwa, not the fatwa's date.
Text
Summary from Ftawy's records, reviewed by El Fatwa's sharia committee.
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Read the full answer on Ftawy