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Force Majeure

Literally, French for "greater force." It refers to any extraordinary event or circumstance that is beyond the control of the...

Guaranteed Investment Contract

A contract (an insurance contract) involving retirement plans that is entered into by an investor and an insurance firm. The...

Unilateral Contract

A contract that entails the payment of an amount of money in exchange for performance of a promised act. The...

Contract Risk

A subset of the legal risk; contract risk refers to the risk that losses may be incurred by an entity...

Short Dated

A short-dated contract or instrument is one with a maturity between three months and one year (or two years in...

Uqud al-Tabarruat

Arabic (عقود التبرعات) for noncommutative contracts or gratuitous contracts. These contracts (uqud- plural of aqd) are based on voluntary charitable...

Uqud al-Imtiaz

An Arabic term (عقود الامتياز) that denotes concession contracts; by definition, a contract of concession is an authorization whereby a...

Uqud al-Taqyidat

Arabic (عقود التقييدات) for contracts (uqud- plural of aqd) that aim to prevent or restrict disposal or conduct in a...

Innominate Contract

A class of contracts to which shari’a neither assigned specific names nor handled in details their respective rules and stipulations....

Unnamed Contract

A class of contracts to which shari’a neither assigned specific names nor handled in details their respective rules and stipulations....