Jurisdiction(s):
United Kingdom

Key definition

Use definition

What does Use mean? In legal practice, Use describes any act of dealing with information, materials, works, data or technology. It is usually a contractual umbrella term capturing a broad range of actions, commonly including to distribute, disclose, store, use, analyse, copy, reproduce, extract, modify or adapt, whether in whole or in part. Use is not generally fixed by statute; its scope turns on the wording of the relevant agreement and context. That said, it intersects with specific legal regimes. In intellectual property, “use” of a trade mark in the course of trade (UK Trade Marks Act 1994; Irish Trade Marks Act 1996) and the...

Islamic project finance: Istisna’a-Ijarah and standalone/forward Ijarah structures, documentation, interaction with conventional tranches, role of other Shari’ah structures, and issues of legal title and accounting treatment

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Practice notes

This Practice Note reviews a range of Islamic or shari’ah‑compliant structures commonly used in project financings and the documentation associated with them. It proceeds on the basis that readers have a working grasp of the key principles of Islamic finance; for detail, see Practice Notes: Key principles of Islamic finance and Sources of Shari’ah. It likewise assumes familiarity with standard conventional project finance frameworks and participants; for these, see Practice Notes: Introduction to project finance, Project finance—key project parties, Project finance—key finance parties, Types of projects and Project finance—meaning of completion and its effect. The structures outlined are typically more intricate, involve additional moving parts and require parties to enter into a greater number of documents than their conventional counterparts. Even so, they are established financing forms, well recognised by most financial institutions and law firms in the market.

Greenfield projects—Istisna’a-Ijarah

Typically, greenfield projects—i.e. schemes on unused land where there is no need to alter or demolish existing structures—that feature an extended construction or development period followed by an operating phase (for example, infrastructure, power, transport, plant and machinery) are financed using a two‑phased Istisna’a‑Ijarah structure: an Istisna’a or ‘procurement’...

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Web page updated on 21/05/2026

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