UAE Commercial Transactions Law

Article 486 — Article (486)

Book Three: Banking Transactions · Part Six: Commercial Transactions of Islamic Financial Institutions · Chapter Two: Special Provisions for Certain Types of Contracts and Obligations to which Islamic Financial Institutions are a Party: Section One: Promise to Contract: Article (475) · Section Four: Istisna'a (Manufacture Contract): Article (483)

1. The sold item shall be handed over on the maturity date as agreed in the contract. A free-defect delivery may not be stipulated and any agreement to the contrary shall be null and void. 2. Where the sold item is delivered and some of its properties are materially different, as per the customary practices, the buyer shall have the option either to receive and accept the sold item or terminate the contract and pay the price or the paid portion thereof back to the seller, or both parties may agree on a new price to be fixed in a timely manner.

WAWhatsAppTGTelegram