Does agreeing with a wholesaler to purchase goods that will be delivered later and paid for upon receipt or after a month count as selling what is absent (bay' al-gha'ib) or selling deferred for deferred (bay' al-kali' bi al-kali')?
These transactions are common and can be rectified as a sale of an absent item if the goods are owned by the merchant and are in his possession. In this case, it is not a condition for the price to be paid in cash at the time of the contract. However, if the goods are not owned by the seller but are described as being a future obligation (fi al-dhimmah), it is not permissible to purchase them with a deferred price (selling future debt for future debt – bay' al-kali' bi al-kali'). Nevertheless, the Malikis made an exception for a short deferral period. The solution is for the request for the item to be merely a promise to buy, not a sales contract, and for the transporter to act as an agent. The transaction would then be concluded upon taking possession of the goods, at which point the price becomes fixed.
Summary from Ftawy's records · added here
Reviewed by El Fatwa's sharia committee.
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- Summary from Ftawy's records, reviewed by El Fatwa's sharia committee.
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