Salam and Its Conditions
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We have a type of financial transaction that resembles salam. A merchant or owner of capital gives a farmer a sum, for example one thousand riyals, and tells him: When you harvest the wheat or rice, give me wheat in return. However, if he comes to buy from him, he buys at the price of the day of harvest; because if he bought at the price of the day of payment, there would be injustice to the owner of the capital; because at that time the commodity would be very expensive. So when the harvest comes and the commodity becomes common, its price drops. And they usually do not specify how much this thousand is; they do not specify the measured quantity that he buys from him. Is this correct?
This is salam, and the Prophet (peace and blessings be upon him) said: (Whoever enters into a salam contract for something, let him specify it in a known measure and a known weight for a known term) So it is necessary to specify the term, and to specify the measure and weight, the type, and the description, whether poor or good. And it is necessary that the estimation of the price be at the time of the salam. It is permissible at its price, less or more; the important thing is that they agree on the value at that time.
The questioner: The only deviation here is the lack of agreement on the measure?The Shaykh: No, the measure is according to the value. They must estimate the value. At the time of paying the money, they estimate the value as they wish. Even if we assume that the sa' equals ten and they estimate it at eleven, or twelve, or thirteen, or six, or seven, they are free.
The questioner: In this case, the merchant usually says: I do not buy at today's price?The Shaykh: At what price do you buy?The questioner: He wants to buy at the price of the harvest?The Shaykh: The price of the harvest is unknown.
The questioner: It changes from day to day.
The Shaykh: It is not permissible. If they estimate the price, the merchant takes precautions for himself and raises it slightly, and he may lower it slightly.And instead of the sa' being ten, he says: At eight. Also, it must be known that cash is not like deferred payment. It must be less than the deferred price.
This is salam, and the Prophet (peace and blessings be upon him) said: (Whoever enters into a salam contract for something, let him specify it in a known measure and a known weight for a known term) So it is necessary to specify the term, and to specify the measure and weight, the type, and the description, whether poor or good. And it is necessary that the estimation of the price be at the time of the salam. It is permissible at its price, less or more; the important thing is that they agree on the value at that time.
The questioner: The only deviation here is the lack of agreement on the measure?The Shaykh: No, the measure is according to the value. They must estimate the value. At the time of paying the money, they estimate the value as they wish. Even if we assume that the sa' equals ten and they estimate it at eleven, or twelve, or thirteen, or six, or seven, they are free.
The questioner: In this case, the merchant usually says: I do not buy at today's price?The Shaykh: At what price do you buy?The questioner: He wants to buy at the price of the harvest?The Shaykh: The price of the harvest is unknown.
The questioner: It changes from day to day.
The Shaykh: It is not permissible. If they estimate the price, the merchant takes precautions for himself and raises it slightly, and he may lower it slightly.And instead of the sa' being ten, he says: At eight. Also, it must be known that cash is not like deferred payment. It must be less than the deferred price.