The five stages are: overall promise arrangement; appointment of the client as purchasing agent; purchase and possession on behalf of the financier; client's notice and offer to buy; financier's acceptance completing the cost-plus sale (مرابحة). Only then does sale ownership and risk move to the client.
This rule is especially important in financing because cost-plus sale (مرابحة) is valid only when the financing remains a real sale. The sequence of ownership, possession, risk and final sale must therefore be visible in the transaction.