Q: We supplied stock to Muslim owned wholesaler. This is how the transaction went:
We quoted a price. The buyer was happy and they placed an order of 10 pallets of stock. We arranged the stock, invoice it and supplied it without any problem. 14 days later the client paid. There was no defect in the product. 2 weeks after they paid, the price of this product dropped in the market, so that is nearly 30 days after they placed the order.
The item sells at R27 and we supplied it to him at R22. Two weeks after he had it on his floor and the price dropped, he contacted us to say that he can get it at R19. 00 and we must pick up the stock or exchange it for another item with a good price.
What am I allowed to do it the sharia regarding this situation?
I did say I can drop this price abit and refund you a R2 but he did not sound happy. This will also put me in a problem as now I have to go and collect the stock at my cost and my profit margin was low when doing this deal.
As a Muslim business man, is he allowed to instruct me to pick up my stock according to how the transaction took place and refund him or send him other stock for that value. What if I don't have a good deal for him at this moment?
A: After the deal is concluded, none of the parties have the right to cancel the transaction. Hence, in this case, you are not under any obligation to pick up the goods you sold to him and refund him the full amount or any part of the amount.
And Allah Ta'ala (الله تعالى) knows best.
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