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Istisna' model for construction works' contract

Abdul Rashid, Khairuddin (2015) Istisna' model for construction works' contract. In: 3rd IIUM - Kyoto University Research Colloquium, 2nd - 3rd December 2015, Kuala Lumpur. (Unpublished)

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Abstract

Istisna’ has been accepted as the Shariah compliant tool for a transaction wherein the subject matter is yet to exist. In the case of construction works’ contracts the current Istisna’ practice appears to be skewed towards meeting the needs and requirements of the international funding institutions, hence the use of parallel Istisna’. However, the documentation aspects of Istisna’ contracts is seldom discussed. In this presentation, Istisna’ in general and its application and documentation for construction works’ contracts is critically examined. The outcome of the examination suggests that for construction works’ contracts direct Istisna’ is preferred. In addition, in effort to achieve validity of the Istisna’ contract a comprehensive set of documentation is required. It is proposed herein that the use of bills of quantities (BQs) would enable this requirement to be satisfied. Keywords: Building, Bills of Quantities (BQs), Construction, Contract, Istisna’, Quantity Surveying, Shari’ah

Item Type: Conference or Workshop Item (Slide Presentation)
Additional Information: 5137/49526
Uncontrolled Keywords: Building, Bills of Quantities (BQs), Construction, Contract, Istisna’, Quantity Surveying
Subjects: B Philosophy. Psychology. Religion > BP Islam. Bahaism. Theosophy, etc
H Social Sciences > H Social Sciences (General)
H Social Sciences > HF Commerce > HF5001 Business. Business Administration
K Law > KBP Islamic Law
T Technology > TA Engineering (General). Civil engineering (General)
T Technology > TH Building construction
Kulliyyahs/Centres/Divisions/Institutes: Kulliyyah of Architecture and Environmental Design > Department of Quantity Surveying
Depositing User: Professor Khairuddin Abdul Rashid
Date Deposited: 09 Feb 2016 08:16
Last Modified: 23 May 2016 15:05
URI: http://irep.iium.edu.my/id/eprint/49526

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