THE WAKALAH. 2.1. Under the Shariah principle of Wakalah, the Investor hereby irrevocably and unconditionally appoints the Company as its agent and the Company hereby accepts this appointment to represent the Investor in a Musharakah agreement with the Developer in the Project via this Agreement, for the purpose of investing in the Project.
2.2. The Company shall exercise due diligence to the best of its expertise, knowledge and skills to ensure that all the transactions in the Musharakah are Shariah-compliant.
2.3. The Commitment Amount by the Investor Group is as described in Section 4 of the Appendix.
2.4. The Company by virtue of this Wakalah Agreement shall be authorised by the Investor to hold the ownership of the assets and appoint any party it deems fit as an agent and a sub- agent for the purpose of finding buyers and selling the Investor’s share in the partnership.
2.5. The fixed Wakalah fee of the Company is as described in Section 5 of the Appendix.
2.6. The Company charges service fees for facilitating the Musharakah agreement between the Investor and the Developer, as described in Section 5 of the Appendix.
2.6.1. This service fees will be charged upfront and will be considered as a cost for the Project, which will not reduce the capital contribution of the Investor Group in the Project.
2.7. A performance incentive fee from the Projected Gross Return (if any) on Commitment Amount will be charged by the Company as described in Section 5 of the Appendix. In the event that no returns are realised, the Company will not charge any incentive fee.
2.8. The Developer promises to forego a portion of the Developer’s own profits realised from the project to grant Investors the higher projected return. However, this will only apply if:
2.8.1. The project makes a profit; and
2.8.2. The Developer is not deprived of all profits as a result of this arrangement.
2.9. The Investor agrees to contribute to capital as described in Section 9 of the Appendix.
2.9.1. In the case of loss, the Investor Group and the Developer will bear loss proportionately to the capital contribution of each Party.
2.9.1.1. Notwithstanding the above, the Developer is liable for any loss attributed to negligence, misconduct or breach of contractual terms.
2.9.2. The profit will be shared between the Investor Group and the Developer based on the Profit Sharing Ratio (PSR) as described in Section 10 of the Appendix.
THE WAKALAH. 2.1. Under the Shariah principle of Wakalah, the Investor hereby irrevocably and unconditionally appoints the Company as its agent and the Company hereby accepts this appointment to represent the Investor in a Musharakah agreement with the Issuer in the Project via this Agreement, for the purpose of investing in the Project.
2.2. The Company shall exercise due diligence to the best of its expertise, knowledge and skills to ensure that all the transactions in the Musharakah are Shariah-compliant.
2.3. The Commitment Amount by the Investor Group is as described in Section 4 of the Appendix.
2.4. The fixed Wakalah fee of the Company is as described in Section 5 of the Appendix.
2.5. The Company charges service fees for facilitating the Musharakah agreement between the Investor and the Issuer, as described in Section 5 of the Appendix. The service fees will be charged upfront and will be considered as a cost for the Project, which will not reduce the capital contribution of the Investor Group in the Project.
2.6. A performance incentive fee from the Projected Gross Return (if any) on Commitment Amount will be charged by the Company as described in Section 5 of the Appendix. In the event that no returns are realised, the Company will not charge any incentive fee.
2.7. The Issuer promises to forego a portion of the Issuer’s own profits realised from the project to grant Investors the higher projected return. However, this will only apply if:
2.7.1. The project makes a profit; and
2.7.2. The Issuer is not deprived of all profits as a result of this arrangement.
2.8. The Investor agrees to contribute to capital as described in Section 9 of the Appendix.
2.8.1. In the case of loss, the Investor Group and the Issuer will bear loss proportionately to the capital contribution of each Party.
2.8.1.1. Notwithstanding the above, the Issuer is liable for any loss attributed to negligence, misconduct or breach of contractual terms.
2.8.2. The profit will be shared between the Investor Group and the Issuer based on the Profit Sharing Ratio (PSR) as described in Section 10 of the Appendix.
THE WAKALAH. 2.1. Under the Shariah principle of Wakalah, the Investor hereby irrevocably and unconditionally appoints the Company as its agent and the Company hereby accepts this appointment to represent the Investor in a musharakah agreement with the Developer in the Project via this Agreement, for the purpose of investing in the Project.
2.2. The Company shall exercise due diligence to the best of its expertise, knowledge and skills to ensure that all the transactions in the musharakah are Shariah- compliant.
2.3. The Company shall present, upon the request of the Investor, the shariah concepts used in the transactions which may include istisna, musharakah, murabahah, etc.
2.4. The Commitment Amount by the Investor Group is as described in Section 4 of the Appendix.
2.5. The company by virtue of this wakalah Agreement shall be authorized by the Investor to hold the ownership of the assets and appoint any party it deems fit as an agent and a sub-agent for the purpose of finding buyers and selling the Investor’s share in the partnership.
2.6. The fixed wakalah fee of the Company is SGD 1.00 (one Singaporean Dollar) only.
2.7. The Company charges service fees for facilitating the musharakah agreement between the Investor and the Developer as described in Section 5 of the Appendix.
2.8. A performance incentive fee of 12.5% from the Projected Gross Return (if any) on Commitment Amount will be charged by the Company as described in Section 5 of the Appendix. In the event that no returns are realised, the Company will not charge any incentive fee.
THE WAKALAH. 2.1. Under the Shariah principle of Wakalah, the Investor hereby irrevocably and unconditionally appoints the Company as its agent and the Company hereby accepts this appointment to represent the Investor in the Project via this Agreement, for the purpose of financing the construction and acquisition of the Assets in the Project.
2.2. Under the Shariah principle of Istisna, the Company will sign a construction Contract with the Developer on behalf of the Investor Group for this purpose.
2.3. The Investment Amount by the Investor Group is as described in Section 4 of the Appendix.
2.4. After completion of construction, the ownership of the Assets will be held by the Company on behalf of the Investor Group. The Company will then appoint the Developer as an agent to sell the Assets based on the Shariah principle of Murabahah and disburse the agreed amount of profit from the sale to the Investor Group.
2.5. Under the Shariah principle of Wakalah, the Company will then appoint the Developer as its agent to:
2.5.1. Find end buyers for the Assets and to do/ execute all preliminary acts with respect to the finalization of the sale of the Assets to the end buyers via the bank chosen by the end buyer.
2.5.2. To sell the units to the end buyers on behalf of the Company and the Investor Group.
2.5.3. To transfer the sale proceeds to the Company, in order to disburse to the Investor Group.
2.6. The Agency fee to the Developer will be 49.72% of Asset Sale Price.
2.7. A performance incentive fee of 12.5% from the Projected Gross Return (if any) on Investment Amount will be charged by the Company. In the event that no returns are realised, the Company will not charge any fee.
THE WAKALAH. 2.1. Under the Shariah principle of Wakalah, the Investor hereby irrevocably and unconditionally appoints the Company as its agent and the Company hereby accepts this appointment to represent the Investor in an investment agreement with the Developer in the Project via this Agreement, for the purpose of investing in the Project.
2.2. The Company shall exercise due diligence to the best of its expertise, knowledge and skills to ensure that all the transactions are Shariah-compliant.
2.3. The Company shall present, upon the request of the Investor, the shariah concepts used in the transactions such as istisna, musharakah, murabahah, etc.
2.4. The Commitment Amount by the Investor Group is as described in Section 4 of the Appendix.
2.5. The company by virtue of this wakalah Agreement shall be authorized by the Investor to hold the ownership of the assets and appoint any party it deems fit as an agent or a sub-agent for the purpose of finding buyers and selling the Investor’s share in the Project.
2.6. Under the Shariah principle of Wakalah, the Company may appoint the Developer to:
2.6.1. Find end buyers for the assets and to do/ execute all preliminary acts with respect to the finalization of the sale of the assets to the end buyers via the bank chosen by the end buyer.
2.6.2. To sell the units to the end buyers on behalf of the Company and the Investor Group.
2.6.3. To transfer the sale proceeds to the Company, in order to disburse to the Investor Group.
2.7. The fixed wakalah fee of the Company is SGD 1.00 (one Singaporean Dollar) only.
2.8. The fixed Developer Agency fee of the Developer is SGD 1.00 (one Singaporean Dollar) only as described in Section 8 of the Appendix.
2.9. The Company charges service fees for facilitating this agreement between the Investor and the Developer as described in Section 5 of the Appendix.
2.10. The Investor agrees to waive any profit above the Projected Return on Investment as specified in Section 5 and 8 of the Appendix.
2.10.1. The waived amount is incentive fees for the Developer.
2.11. The Investor agrees to allow the use of portion of the Commitment Amount to settle the Developer’s obligation towards Ethis. However, this shall be a cost for the project and will not reduce the capital contribution of the Investor.
2.12. The Service Fees will be deducted and settled upfront from the Commitment Amount, and the remaining balance will be transferred to the Developer.
2.13. A performance incentive fee of 12.5% from the Proje...
THE WAKALAH. 2.1. Under the Shariah principle of Wakalah, the Investor hereby irrevocably and unconditionally appoints the Company as its agent and the Company hereby accepts this appointment to represent the Investor in the Project via this Agreement, for the purpose of investing in the Project.
2.2. The Company shall exercise due diligence to the best of its expertise, knowledge and skills to ensure that all the transactions in this investment are Shariah- compliant.
2.3. The Company shall present, upon the request of the Investor, the shariah concepts used in the investment transactions such as istisna, musharakah, murabahah, etc.
2.4. The Investment Amount by the Investor Group is as described in Section 4 of the Appendix.
2.5. The company by virtue of this wakalah Agreement shall be authorized by the Investor to hold the ownership of the assets and appoint any party it deems fit as an agent and a sub-agent it for the purpose of finding buyers and selling the assets.
2.6. Under the Shariah principle of Wakalah, the Company may appoint the Developer as its agent to:
2.6.1. Find end buyers for the Assets and to do/ execute all preliminary acts with respect to the finalization of the sale of the Assets to the end buyers via the bank chosen by the end buyer.
2.6.2. To sell the units to the end buyers on behalf of the Company and the Investor Group.
2.6.3. To transfer the sale proceeds to the Company, in order to disburse to the Investor Group.
2.7. The Agency fee to the Developer will be as described in Section 8 of the Appendix.
2.8. A performance incentive fee of 12.5% from the Projected Gross Return (if any) on Investment Amount will be charged by the Company as described in Section 5 of
THE WAKALAH. 2.1. Under the Shariah principle of Wakalah, the Investor hereby irrevocably and unconditionally appoints the Company as its agent and the Company hereby accepts this appointment to represent the Investor in a musharakah agreement with the Developer in the Project via this Agreement, for the purpose of investing in the Project.
2.2. The Company shall exercise due diligence to the best of its expertise, knowledge and skills to ensure that all the transactions in the musharakah are Shariah- compliant.
2.3. The Company shall present, upon the request of the Investor, the shariah concepts used in the transactions such as istisna, musharakah, murabahah, etc.
2.4. The Commitment Amount by the Investor Group is as described in Section 4 of the Appendix.
2.5. The company by virtue of this wakalah Agreement shall be authorized by the Investor to hold the ownership of the assets and appoint any party it deems fit as an agent and a sub-agent for the purpose of finding buyers and selling the Investor’s share in the partnership.
2.6. The fixed wakalah fee of the Company is as described in Section 5 of the Appendix.
2.7. The Company charges service fees for facilitating the musharakah agreement between the Investor and the Developer as described in Section 5 of the Appendix.
2.7.1. This service fees will be charged upfront and will be considered as a cost for the Project which will not reduce the capital contribution of the Investor Group in the Project
2.8. The Developer promises to forego a portion of the developer’s own profits realised from the project to grant Silver and Gold Investors the higher projected return. However, this will only apply if:
2.8.1. The project makes profit; and
2.8.2. The developer is not deprived of all profits as a result of this arrangement
2.9. A performance incentive fee from the Projected Gross Return (if any) on Commitment Amount will be charged by the Company as described in Section 5 of the Appendix. In the event that no returns are realised, the Company will not charge any incentive fee.
