Each transfer of securities from an ISSBNT (Islamic Securities Selling and Buying - Negotiated Transaction) participant to another ISSBNT participant is supported by a contract of sale (bai’). The ISSBNT model proposes the following two (2) outright sale transactions:

• Leg 1 of the ISSBNT means the initial sale of the ISSBNT Eligible Securities by the Approved Supplier to the Approved User in accordance with the ISSBNT Model, whereby the Approved Supplier sells securities to the Approved User at an agreed sale price (Sale Price for Leg 1) on a deferred payment basis; and,
• Leg 2 of the ISSBNT means any subsequent sale by the Approved User to the Approved Supplier of similar or equivalent securities as that of Leg 1 of the relevant ISSBNT in accordance with the ISSBNT Model, whereby the Approved User sells similar or equivalent securities to the Approved Supplier at an agreed sale price (Exercise Price for Leg 2) on a cash payment basis via setting-off the Sale Price for Leg 2 against the Sale Price for Leg 1.