Items that are mutually interchangeable, i.e., the units of which are identical (in specifications/ features), and if destructed will be guaranteed (replaced by the party who has caused destruction) by other identical units without consideration to their value. In other words, fungibles are goods that have common features such that they are very similar or identical (i.e., do not differ significantly). Fungible commodities are typically are sold by measure, number or weight.

A fungible item (say a Toyota car of a given model and year of production) can be replaced by any other good of the same type (another Toyota car of the same model and year of production) in the event of destruction, without having to assess the value of the item destroyed or the one replacing it. Further examples of fungibles include wheat, dates, oil, etc.

In Arabic, fungible items are known as mithliyyat or mithliat or mithliaat (مثليات).