A type of gharar (uncertainty) that arises if liability of any of the parties to a commutative contract (aqd mu’awadhah) is, or becomes, uncertain or contingent on unforeseen/ uncontrollable events. Khatar may also arise if delivery of one of the countervalues (in an exchange-based contract/commutative contract) is beyond the control of either party, or if the object of sale or the amount of payment (thaman/ badal) is undetermined/ indeterminable.
Khatar (خطر) is Arabic for hazard, peril or harmful risk.
