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Tender & Delivery period |
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15th to 20th of the Contract Maturity Month. |
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Buyer's & seller's Intention |
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15th & 20th of the Contract Maturity month by 3.00 p.m. |
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Tender Days |
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15th to 20th of the Contract Maturity Month. |
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Tender Notice by Seller |
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The Seller will issue tender notice along with evidence of delivery to the Exchange in a specified format. |
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Delivery Period Margin |
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Nil |
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Delivery logic |
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Seller's option If seller does not wish to deliver then the open position will be settled as per due date rate. However if a seller has submitted his intention to deliver and thereafter he fails then a fine of 5% is levied, out of which 90% will go to the buyer. |
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Dissemination of Information on Tendered Delivery on Trader Work Station. |
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Dissemination of Information on TWS on the date of intimation by 7.00 p.m. |
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Delivery Order |
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All deliveries tendered by sellers on designated tender days shall be in the form of `Delivery Orders' issued in favor of the buyers, as per instructions of MCX. The Delivery Orders shall be filled up in the prescribed form and shall clearly state the contract particulars including quantity, quality and the delivery center, which should be accompanied with a bill in favor of the buyer.
Delivery Order once submitted cannot be withdrawn or cancelled or changed, unless so agreed by MCX in writing. |
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Mode of Communication |
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Fax or Courier |
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Allocation of Delivery |
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First amongst the willing Buyers and then amongst the other Buyers. Done on 20th day of the contract month after closure of market. |
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Delivery Order Rate |
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At DDR |
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Buyer's Obligation |
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Once the delivery is allocated to a buyer , he can not refuse taking delivery and such refusal will attract disciplinary action. |
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Pay-in (Funds) for Delivery. |
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By 10:30 a.m. on Tender day +2 basis |
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Funds and Delivery Payout. |
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By 5.00 P.m. on Tender day +3 basis |
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Delivery Center |
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Deliveries can be affected from Exchange designated warehouse which may be CWC or private warehouse. The address of Exchange approved Private Warehouse at Delhi:
M/s. Sohanlal & Co.C-28,
Lawrence Road, Industrial Area,
Delhi - 110035.
The address of CWC at Delhi:
Central Warehouse Corpn.
G.T.Kamal Road,
Opp. SBI Colony,
Rana Pratap Baug,
New-Delhi - 110033 |
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Close out of open Positions |
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All outstanding positions on the expiry of contract shall be closed out at Due Date Rate and respective Pay-in and Pay-out of Funds of such close out with penalty shall be effected on 16th day of Contract month by 01.00 P.M. All Sellers with undelivered open positions as on expiry date will be imposed 5% penalty of which 90% will be passed on the buyer. |
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Legal obligation |
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The members will provide appropriate tax forms wherever required as per law and as customary and neither of the parties will unreasonably refuse to do so. |
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Taxes, Duties, Cess & Levies |
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Price is inclusive of all taxes & levies.
All other charges, levies or APMC Cess applicable at the delivery center will be on account of sellers. Incase of Inter-State movement, Buyer has to submit requisite forms or pay CST as applicable. Post lifting delivery all charges are borne by the Buyer. |
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Warehouse Charges, Fumigation Charges, Insurance & Transportation charges. |
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Borne by the Seller upto Funds Pay-out date.
Borne by the Buyer after Funds Pay-out date. |
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Delivery Grades |
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The Members tendering delivery will have the option of delivering such grades of Chana as permitted by the Exchange under the contract specification. The buyer will not have any option to select a particular grade and the delivery offered by the seller and allocated by the Exchange shall be binding on him.
The Member tendering delivery will clearly specify the grade to be delivered in the Delivery Order. Once the delivery grade is specified, it cannot be changed for the same Delivery Order. Such delivery grade shall be in conformity with the surveyor's certificate accompanied with the delivery document. |
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Evidence of Stocks in Possession |
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At the time of issuing the Delivery Order, the Member must satisfy MCX that he holds stocks of the quantity and quality specified in the Delivery Order at the declared Delivery Center. This should be substantiated by way of producing warehouse receipt.
The procedures followed for drawing samples and carrying out analysis tests shall be as per booklet issued by Bureau of Indian standards. |
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Weighment at the time of delivery |
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he goods tendered shall be weighed at the weigh bridge approved by the Exchange. The Buyer's representative shall present himself at the warehouse installation at the time of delivery failing which the weight determined by the Exchange shall be final and binding. |
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Endorsement of Delivery Order |
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The buying member can endorse delivery order to a client or any third party with full disclosure given to MCX. Responsibility for contractual liability would be with the original assignee. |
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Extension of Delivery Period |
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As per Exchange decision due to a force majeure or otherwise |
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Due Date Rate |
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Exchange shall take spot prices from a panel of different entities from spot market and shall compute the daily average price. Due Date Rate will be calculated by way of taking simple average of last 3 days of the spot market prices so computed. |
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Applicability of Business |
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Rules The general provisions of Business Rules & decisions taken by FMC/ Board / Executive Committee in respect of matters specified above will apply mutatis mutandis. The Exchange may further prescribe additional measures relating to delivery procedures, warehousing, Quality Certification, Margining, risk management from time to time. In case of any interpretational dispute or clarifications the decision of the Exchange shall be final and binding on the members and others. |
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