Khitab al-Daman

A letter of guarantee is issued to indemnify a beneficiary in the event that the guaranteed party fails to perform its contractual obligation in accord with the terms of the contract. By this guarantee the guarantor commits itself to pay the beneficiary a specified amount if the customer fails to fulfil its obligation. For further details, see ISRA Research Paper No. 60/2013.

Is It Permissible to Deliver the Goods Which Have Arrived Before Their Documents to the Client in a Murabahah Agreement?
Issuance Of An LG Under A Murabahah Transaction
LG from a Conventional Bank as Security in Murabahah
When the Goods Arrive before Their Shipping Documents
Can a Company in Partnership with an Islamic Bank Claim Reimbursement for Interest Charges on a Letter of Guarantee the Partner Got from a Conventional Bank without Consulting the Islamic Bank?

Islamic Financial System ©



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