Arabic (صيغة العقد) for contractual formula (formula of a contract/ aqd). A formal exchange of offer/ proposal (ijab or ‘ardh) and acceptance (qubul/ qabul/ qabool) between contracting parties at contract assembly (majlis al-aqd), signifying their willingness to enter into a contract.
Sighat al-aqd may be verbal, written or even gestural/ indicative, depending on the context of contracting (time, place, urf, etc.)
Sighat al-aqd is an integral element (rukn– ركن) of contract in Islamic trade and investment/ finance.
