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General Contractor Licence Bond Fees

Answered as per Hanafi Fiqh by ShariahBoard.org

Assalamualaikum,

One of the requirement for a general contractor is to acquire a bond. A bond is a security money around $100,000 to $500,000 depending on the type of contrator, there is a fee associated with that bond that contractor has to pay.

I need guidance about that fee, does that fee involve any riba/interest? 

الجواب وباللہ التوفیق

We will need detail about this fees to respond to your query.  

واللہ اعلم بالصواب

Answered on: 03 April 2019 | 27 Rajab 1440
Answer By: Mufti Mohammed Ataur Rahman Sajid
Checked By: Mufti Mohammed Navalur Rahman

Original Source Link

This answer was collected from Shariahboard.org. It was established under the supervision of the eminent faqih of our era, Hazrat Shah Mufti Mohammed Navalur Rahman damat barakatuhum.

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