Trade

Early settlement discount

Q: I am in retail and many suppliers state their terms similar or as follows: COD 10% 30 Days 7% 60 Days - No discount This is the general practise amongst most wholesalers and it is clear when an account is being opened. If there is a change we are informed well in advance. I sometimes take the full 60 days without a discount but on occasions where my cash flow is better, I do take advantage of their different settlement discounts. Is this permissible?

Alternative to early settlement discount

Q: Will it be permissible for one to make an agreement with the supplier, at the onset before purchasing, that for example, the terms will be 30 days with a discount of 5%? There are a few suppliers with whom we have an agreement such as the one described above and we keep to the arranged terms. However, the time period and discount differs from supplier to supplier. If this is not permissible, then what is the solution to rectify the situation?

Father running a bottle store

Q: My question is regarding haraam income. My uncle used to run a sharab shop (bar) but now he is no more. He had taken a loan and there was no one to return the loan so my dad took the responsibility to return the loan but my dad got involved in the sharab shop (bar) and started to return the loan. The entire loan is returned but my dad is still working in the sharab shop (bar). Please suggest me what I am do. He provides haram income to my family members, friends, relative and also myself.

Forcing the purchaser to pay more than the agreed amount

Q: I bought a property from friend. We agreed to close our deal a year later. I paid him 40,0000 $ advanced. We signed a legal binding agreement. All good. After one year I asked to close our deal and he started asking more money. Property value gone up. I told him no, you are breaking your promise and agreement. He put pressure on me. Literally black mailing me. Otherwise I go to court and suffer more financial hardship. I surrender and promise verbally to pay 40k extra by taking a loan and paying him off. Now the deal is closed and I feel I should not give extra money that I don't even have but I feel bad that I am breaking my promise. Also I felt I was cornered. Please help me what should I do?

Procedure of a Lay-by sale

Q: A person wishes to purchase some goods from a certain furniture store but does not have the money at present. The seller tells him that he can buy the furniture on lay-by. Will it be permissible for him to purchase the goods on lay-by and how does lay-by actually work? Through lay-by, does one become the owner of the goods immediately or only when the goods are completely paid for?