Guidelines for Islamic Modes of Finance, SBP

4 the institution shall have the authority in its

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Unformatted text preview: 4. The Institution shall have the authority, in its absolute discretion to refuse the disbursement of funds or to revoke this Agency Agreement at any time., subject to a notice in writing served given at least 07 days prior to revocation. 5. You may revoke this Agency Agreement by giving a notice in writing of at least 07 days prior to the date of intended revocation, provided that any amount due by you to the Institution shall become payable immediately and until such time that any such amount due from you has been discharged in full, this agreement shall not be deemed to have been revoked. 6. This Agency Agreement shall remain in force until revoked and shall be governed by the prevailing laws of Pakistan and the Musawamah Facility Agreement dated _______________. Any dispute between the parties shall be submitted to a Court/Tribunal of competent jurisdiction in __________. Kindly signify your acceptance of the foregoing terms and conditions by signing the duplicate. For and on behalf of (insert name of the Institution) ___________________________ AUTHORISED SIGNATORY OF THE INSTITUTION AGREED AND ACCEPTED For and on behalf of [insert name] _____________________________ AUTHORISED SIGNATORY OF THE AGENT WITNESSES: 1.________________ 2. ________________ © 2003 State Bank of Pakistan. All Rights Reserved. Disclaimer | Instructions State Bank of Pakistan I.I. Chundrigar Road, Karachi, Pakistan. Phone: (+9221-24450298, Fax: (+9221) 9212440 file:///C|/Documents and Settings/Administrator/D...idelines for Islamic Modes by SBP/musawamah/2.htm (2 of 2) [2/23/2008 11:51:27 PM] State Bank of Pakistan - The Central Bank Home Jobs & Careers Site Map Feedback Contact Us Help Desks Press Release April 15, 2005 State Bank ’ s Shariah Board Approves Essentials and Model Agreements for Islamic Modes of Financing BACK Essentials of Islamic Modes of Financing Murabaha Facility Agreement Musawamah Facility Agreement Lease Agreement Salam Agreement Musharaka Investment Agreement Istisna Agreement Agreement for Interest free Loan Mudaraba Financing Agreement Syndication Mudaraba Agreement In the Name of Allah, the Merciful, the Compassionate Model Musawamah Facility Agreement (For Corporate Clients-local purchases) Musawamah Document #3.1 | Musawamah Doc # 1 | Musawamah Doc # 2 | Musawamah Doc # 3.1 | | Musawamah Doc # 3.2 | Musawamah Doc # 4 | Musawamah Doc# 5 | | Musawamah Doc # 6 | Musawamah Doc # 7 | PURCHASE REQUISITION S. No. ___________ Date: ___________ To: ____________________ [Insert name and address of the Institution] ____________________ ____________________ Dear Sirs, PURCHASE REQUISITION FOR PURCHASE OF THE GOODS MUSAWAMAH FACILITY AGREEMENT DATED_____________ (1) Please refer to the Musawamah Facility Agreement dated [______] (the " Agreement ") between [insert name of the Client] (the " Client ") (of the first part) and [insert name of the Institution] (the " Institution ") (of the second part)....
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4 The Institution shall have the authority in its absolute...

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