Strengths, Weaknesses and Solutions for Repairing Accounting for

Salam Financing

To complete the Sharia Accounting Semester Midterm Exams offered by:

Ahmad Roziq, S.E., M.M, Ak.

By :

Nama : Wahidiyah Indah L

STUDY PROGRAM OF S1 ACCOUNTING

FACULTY OF ECONOMY AND BUSINESS

JEMBER UNIVERSITY

2020
 The salam agreement is a sale and purchase of goods which are deferred with
payment of a cash price. To make a greeting agreement the seller is required to
mention the characteristics and specifications of the goods sold to the buyer who is
bound in a binding contract in the contract stated the agreed selling price so that the
buyer can get the goods according to the needs and can be sent on time, even though
there is a change in the market price will have a significant effect. Then through Islamic
banks, business actors can submit a greeting agreement that will ease the burden of
sellers related to lack of venture capital in the form of inventory. In addition to lower
costs than conventional bank financing, the salam agreement avoids usury of financing
based on the Qur'an, sunnah and legally, the salam agreement is written in the fatwa of
the National Sharia Council (DSN) MUI No: 05 / DSN- MUI / IV / 2000 concerning Buy
and Sell Greetings. Then the main pillar of the salam agreement is sighat (ijab qobul),
with qobul consent, the harmony has been fulfilled making it easier for buyers in the
registration process. However, sometimes it will be followed by payment and receipt of
goods for the future. Then a greeting agreement can be a solution if the buyer wants to
order an item or the seller will sell the item but the item is not yet available. With this
system products are sold but do not have capital. Then there are terms and conditions
that must be fulfilled to avoid losses for buyers focused on the price and the object
being sold (goods). To be declared valid according to the school of scholars there are 6
conditions, namely: specific type known, characteristics (nature) known, amount known,
time of delay known, price known, and clear mention of exactly when transportation of
goods has costs. The salam contract is also very flexible, it can be used for all
commodities as long as it can be measured by volume, size, length, number, and
amount. In addition, payment in cash can benefit both parties and does not require
complicated calculations and future obligations will not occur after the goods are
received, and payments received can be used by the seller for further capital. Then, the
seller ensures when delivering goods both before or after his time, there are also things
that must be considered, including: the seller must deliver the goods on time with the
agreed quality and quantity, if the seller surrenders goods of a higher quality, the seller
may not ask for additional prices, if the seller surrenders goods of lower quality, and the
buyer is willing to accept them, then he may not demand a price reduction (discount),
the seller can deliver the goods sooner than the agreed time with the terms of quality
and quantity of goods in accordance with the agreement, and he must not demand
additional prices, if all or part of the goods are not available at the time of delivery, or
the quality is lower and the buyer is not willing to accept it, then he has two choices:
cancel the contract and ask for his money back or wait until it is available. Overall this
protects both buyers and sellers from doubts, unwanted losses, and gives peace.
 However, with the many benefits received from the salam agreement there are
some shortcomings that need attention. For example, the seller is a farmer who has
made a peace agreement agreement can experience harvesting or unexpected things
such as accidents when transporting goods or when shipping to the destination will
cause large losses due to the promised agreement. Then early advance payments are
not necessarily estimated too high or too low. Because the sebernanya does not exist at
the time of the transaction, greetings or wrong words become important harmony. It
can't just be said buying and selling under different conditions. And with qobul consent
done, the salam contract is considered valid, but if the buyer changes his mind and
does not consider it valid, has not said greetings and signed a contract but has paid a
deposit but the seller has considered a legal agreement. And finally the buyer refuses to
accept the goods or make the remaining payment. In addition, payments that are
delayed more than 3 days then buying and selling greetings are considered invalid.
Then the price of goods purchased remains fixed even though the fact is in the field the
price of goods is volatile. And fraud can occur because the goods are not available and
the quality is apparently not as expected. Even if there is a contract, the inventory stock
can be fulfilled easily, but not necessarily the sale will be significant. Then selecting
sellers who are not selective causes a lot of damage to the buyer, for example goods
that are promised late. It is not possible for sales to provide all the information about the
company's credibility in the process of greetings. In the salam contract scheme there
are some shortcomings namely what is the ideal portion of the down payment, a binding
agreement that follows if the customer cannot pay the payment, what kind of buyer
cannot meet the criteria and what if an unexpected event occurs. Then the criteria for
goods which turned out to be incompatible but will be compensated, this raises a lot of
risks and even makes the greeting agreement that is not able to run.
 For this reason, an appropriate solution is needed including: There must be an
initial agreement (revision) in the event of a crop failure condition that will not burden
both parties, the seller provides clear data about information deemed important to the
buyer including regarding the credibility of the company, there is a customer service
serve if there is due maturity given the appropriate clarity and sanctions provided, the
seller and buyer must be able to estimate the relevant price and advance, the contract
made more flexible can be revised if the quality of the goods is not appropriate, Islamic
banks select customers both buyers and sellers selectively meeting the applicable
criteria can limit the value of the proposal for a greeting. There is a mediator in the
transaction agreement that acts to oversee the seller and buyer so as not to break out
of the contract. Especially, Islamic banks must have an intermediary for sellers who are
farmers to empower farming communities to produce orders according to the bank and
manage farmers so that the quality of their production is in line with expectations, so
that the risk of production failure or quality problems can be minimized. Doing
documentation in the form of photos, sound recordings and videos during the process of
the greeting agreement as evidence if there are problems in the future but must go
through a buyer agreement.