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Riba definition

What does Riba mean? In legal practice, riba describes the payment or receipt of interest or other predetermined, unjust gain on a loan of money, which Islamic law prohibits. It is not defined in UK or Irish legislation or case law; rather, it is a descriptive term used in Islamic finance documentation and guidance. The prohibition covers interest on loans and certain unequal or deferred exchanges of specified commodities or currencies. Its practical significance is in structuring Sharia‑compliant finance so that returns arise from sale, lease or partnership arrangements (for example, murabaha, ijara, musharaka and sukuk), not from interest. Documentation typically refers to a...

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RIBA Standard Professional Services Contract 2018 (Architectural Services): key terms, negotiation points, and employer/funder risk considerations — archived

Practice notes
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ARCHIVED: This Practice Note is no longer current and is not being updated. Stop press: Updated Riba Professional Services contracts (2020 editions) have now been issued—see: LNB News 21/07/2020 73. This Practice Note examines the RIBA Standard Professional Services Contract 2018 for Architectural Services (RIBA SPSC 2018), highlighting principal clauses and typical circumstances for using the RIBA Appointment. Issued in 2018, this contract superseded the RIBA Standard Agreement 2010 (2012 revision): Architect. For information on the 2010 version, see Practice Note: RIBA Standard Agreement 2010: Architect. It forms part of the 2018 suite of RIBA Professional Services Contracts, which also comprises:

  • RIBA Concise Professional Services Contract 2018: Architectural Services
  • RIBA Domestic Professional Services Contract 2018: Architectural Services
  • RIBA Principal Designer Professional Services Contract 2018
  • RIBA Sub-consultant Professional Services Contract 2018

Suitability

The RIBA appointment is designed for engaging an architect/consultant to deliver architectural services on schemes procured via the traditional route (see Practice Note: Traditional procurement of construction contracts). RIBA cautions that this form is not appropriate for appointing a principal designer under the Construction (Design and Management) Regulations 2015...

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Web page updated on 21/05/2026

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