Arabic (عقود المعاوضات) for commutative contracts (contracts of exchange). A type of contracts (uqud– plural of aqd) whereby ownership is attained through some king of exchange (tabadul) between two parties such as sale (ba’i/ bay’), lease (ijarah), currency exchange (sarf), ju’alah, etc. For example, in a contract of sale (aqd al-ba’i/ aqd al-bay’) one party (the buyer) pays the other (the seller) an amount of money (thaman) in return for the object of sale (i.e., a commodity). The value and countervalue exchanged in uqud al-muawadhat are known as badalain (plural of badal) or iwadh.
Uqud al-muawadhat belong to a broader class of contracts known as uqud al-tamlikat.
