Sale Contract with Payment by Instalments (Bay' bi al-Taqsit)
A printable «Sale Contract with Payment by Instalments (Bay' bi al-Taqsit)» form to fill in by hand: 11 fields, with fiqh notes and sources. Free download, no registration, in Russian, English and Arabic.
This form has not yet been checked by a scholar. It is a draft drawn from the sources, not an approved specimen: show it to someone knowledgeable before signing.
What the form contains
1. Date of conclusion
- Date
2. Parties to the contract (seller and buyer)
- Seller (full name / organisation)
- Buyer (full name)
3. Subject matter of the sale (al-mabi')
- Goods: description, quantity, specifications
4. Price and down payment
- Total instalment price (in figures and in words)
- Down payment (first instalment)
5. Instalment schedule and due dates
- Instalment schedule: amounts and dates
6. Delivery and taking possession (qabd)
- Date and place of delivery of the goods
7. Documentation and security (rahn — pledge, or kafalah — guarantee)
- Security, if any (rahn — pledge, or kafalah — third-party guarantee)
8. Attestation by witnesses (ishhad)
- Witness No. 1 (full name + contact)
- Witness No. 2 (full name + contact)
A mark-up for deferment is permissible: the instalment price of the goods may be higher than the cash price, provided it is declared and fixed as ONE final amount at the moment of contracting.
The parties stipulate no late-payment penalty, fine or interest in favour of the seller.
Mizan does not issue fatwas and does not replace a scholar. It is not legal advice and gives no contract force under the law of any country. Where the matter is serious, have the contract read by a specialist in Sharia and by a lawyer.