Multi-phase settlement is one of the settlement methods in mercantile exchanges. In this method, the parties undertake to settle the contract in proportion to the amount of goods delivered based on the conditions that are agreed between them at the beginning.

Multi-phase settlement can be applied in two forms which are sharia-compliant:

Commitment to vending: In this case, the parties agree to conclude certain transactions at certain times in the future. The type of transactions that will be concluded in the future must be specified between them at the beginning, moreover, the special rules of each type of sale must be observed. In this case, assigning the obligation position to a third party is permissible.

Conveyance: In this case, the agreement on the entire transaction between the parties is concluded at the very beginning and based on the conveyance agreement, the parties agree to deliver and receive a certain amount of goods and cash contract according to a specific schedule. In this case, each of the parties to the settlement can sell their claim before the due date in the form of a debt sale. Therefore, it can be said that in multi-phase settlement the parties agree on the payment method of the contract in proportion to the amount of goods delivered based on the conditions stipulated in the tender notice.
If one or both parties do not fulfill part of their obligations in the multi-phase settlement process, the termination of total or part of the agreement depends on the terms of the contract that are determined at the beginning.