An Arabic term (أجر مسمى) that generally translates as stipulated remuneration, wage, recompense, consideration, commission, rate, price, or fees, among others. It the amount of remuneration that the contracting parties agree upon in the contract (usually at the contracting session, majlis al-aqd).
For example, in an agency contract (aqd al-wakalah), ajr al-wakeel (agent’s remuneration) is the compensation (ajr) the principal (muwakkel) offers to the agent (wakeel/ wakil), who, in turn, accepts against taking up the investment of wakalah’s funds/ assets as per the contracts terms and conditions. Ajr is typically set in monetary terms such as “this much” of a currency unit, consisting of a fixed fee (ujrah thabitah) and/ or a variable remuneration (ujrah mutaghayyrah).
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