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Abstract

A construction contract is a modern contract that has not been elaborated in ancient Islamic Literature. Modern jurists have touched on this topic and discussed it to make its procedure in accordance with Islam. This paper deals with the discussion on the kinds and modes of prescription of exchange in these contracts. Basically, eight kinds of this contract have been elaborated in four main divisions considering the nature, of the work, its size, gender, and attachment. These eight kinds are lease and construction contracting, Large and small enterprises, material and intellectual contracting, and public and private contracting, which have been defined and discussed in detail. Three modes of prescribing the exchange in this contract have been discussed in the light of Sharia and contemporary law which are the determination of exchange for a total amount, by cost and profit rates, and by price and benchmark. This study will help the contractors to make their contracts in accordance with Islamic teachings.