Deals and the payment schedule

A deal in Qadam is a client, goods, terms and a schedule. The terms can come from a template (“12 months, 30 %”) or be worked out with the calculator right in the form: it shows the monthly payment and the overpayment before you save anything.

The schedule builds itself and balances to the last coin: the payments add up to the price less the down payment, and whatever rounding leaves over goes into the last payment. There are five shapes — equal, decreasing, increasing, a large last payment and skipped months; any line can be edited by hand, and the system recalculates the rest.

The deal type is chosen when the deal is made: murabaha for goods, ijara for a service, murabaha auto for a car held as collateral, musawama when the purchase price is not disclosed to the buyer, and istisna when the item is made to the customer’s specification. The type decides the contract — each has its own paper.