Qabul or Acceptance

Acceptance is normally made by the operator either straight based on proposal or offer from the prospective participant, or if the operator does not agree with the proposal, they can alter or add some additional terms and conditions. The later case will be considered as counter offer to the prospective participants. The mode of acceptance of a proposal may be inferred by any of the following conducts of the operator.

1. Issuance of Takaful insurance certificate
2. Issuance of temporary cover note
3. Issuance of an official receipt for the first payment of contribution
4. Any kind of acceptance (through fax, telephone, email, computerizes or electronic message) to the proposal of the intended participant

Once the contract is done, both parties are bound to comply with the terms and conditions of the contract. As as reference, in the Appendix are attached two example of complete Takaful insurance contract terms and conditions in the form of Takaful insurance certificates based on Wakalah and Mudharabah.