Penalties For Cancelling Locked Gold Purchase Orders In Online Trading
Muhamad Zuhaili Saiman,
Abdul Azib Hussain
Abstract:Lock price gold transactions are becoming increasingly popular among gold buyers because buying gold is easier online. The lock price method gives the buyer a 24-hour period to make a payment with a price that has been locked without changing the value during that period. The lock price method is based on the concept of wa'd that is allowed, which is just a promise, not a sales contract. The problem is when the seller or company sets a fine for the buyer who cancels the transaction such as 5% of the lock price… Show more
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