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Delivery of completed istisna` asset

Change of agreed delivery not in accordance with agreed Failure to complete and

period specifications deliver the istisna’ asset

➢ Delay in the agreed delivery ➢ The purchaser may exercise the ➢ The seller fails to

period must entitle the following options: complete and deliver the

purchaser to claim actual (a)reject delivery of the istisna’ istisna’ asset on the

loss or damage from the asset thereby dissolving the agreed delivery date, the

seller as a result of the contract purchaser may either;

latter’s failure to deliver on (b) accept delivery of the istisna (a) take possession of the

time. asset at the agreed price istisna’ asset on an as-is

➢ The purchaser may accept (c) accept the delivery of the istisna’ basis;

the delivery of the istisna’ asset subject to new terms to be (b) dissolve (fasakh) the

asset which meets the mutually agreed upon by the istisna` contract.

agreed specifications prior contracting parties such as a

to the agreed delivery date. revision to the agreed price or

extension of time given to the seller

to meet the agreed specifications of

the istisna’ asset.