Multi Commodity Exchange of India Ltd. - MCX

More documents

Recommendations

Info

Delivery period margin Delivery center(s) MT, it will be construed as adequate discharge of his delivery obligation of 10 MT, though he will get the value only for actually quantity delivered by him. 25% of the open position during the delivery period Kandla (within Gandhidham Municipal limits) If delivery is offered from a port installation with direct pumping facility, it would be settled at par. If delivery is offered from any other location in Kandla, it would be subject to a discount of Rs. 100 per MT. Quality specifications 1 Appearance at 25 Deg C Clear and free from suspended matters 2 Odour Slight, characteristics 3 Colour not to exceed in a 5¼” cell on 20 Yellow maximum / 2 Red maximum Lovibond Tintometer / AOCS CC 13 B – 45 4 Free Fatty Acid 1% maximum (AOCS CA 5 A – 40 ) 5 Hydroxyl Value 160 –168 (AOCS CD 13 –6) 6 Moisture and Volatile Matters 0.25% maximum ( AOCS CA 2C – 25) 7 Insoluble impurities (AOCS CA 3 – 0.02% maximum 46) 8 Ricinoleic Acid Content (ISO 5508 85% minimum and 5509) 9 Density at 30 degree C (ISO 6883 / 0.952 minimum 1995 CORR. 1/ 1996) 10 Viscosity GARDNER – HOLDT : U-V 11 Solubility in alcohol at 20 degree C Completely without turbidity in two volumes of specially denatured alcohol Formula 3 A (95%) 12 Flash point 280 degree C minimum 13 Iodine value 82 to 90 14 R.I. at 40 degree C 1.4700 to 1.4740 15 Specific gravity at 30 degree C 0.9540 to 0.9600 16 Test for presence of other oils Negative Delivery Logic Both Option Delivery and Settlement Procedure of Castor Oil Contracts (First Special Grade) Delivery logic Tender day Tender and delivery period Buyer’s and Seller’s Intention Both Option 1 st working day after expiry of contract by 6:00 pm 1 st to 3 rd working days after expiry of the contract. On the contract expiry day by 6.00 p.m. Seller will submit copies of relevant documents as evidence that he is holding stock at the time of giving his intention.
Mode of communication Matching of Buyer’s and Seller’s intention Dissemination of the information on delivery intention on TWS Delivery period margin Exemption from delivery period margin Delivery allocation - Date - Rate Delivery pay-in Delivery pay-out Pay-in of funds Pay-out of funds Penal provisions Fax / Courier On the basis of intention received from the buyers and sellers, the Exchange will match the total quantity offered by the buyers and sellers and with respect to the matched quantity, the allocation of delivery between the buyers and sellers will be done. The unmatched quantity of open position will be closed out as per DDR and actual delivery will be effected only to the extent of matched quantity. On the contract expiry day by 7.00 p.m. 25% margin will be imposed during tender and delivery period on both buyers and sellers on marked quantity. Delivery period margin is exempted if the Seller provides with documentary evidence of the delivery at the Exchange’s designated delivery center. On expiry date of the Contract At due date rate (DDR) On tender days E+3 working day by 11.00 a.m. E+2 working day by 11.00 a.m. E+3 working day by 11.00 a.m. In case the buyer opts for second sampling, he has to inform the Exchange on E+2 working day by 6.00p.m and in such case the pay-out of funds will be released only after completion of sampling procedure. After getting (matching) intentions from the buyer and seller to take or give delivery, if any of the party fails to honour his obligations, a penalty of 2.5% of the DDR will be imposed on him. Additionally, a replacement cost of 0.5% will be recovered from the defaulting buyer / seller. Taxes, Duties, Cess and Levies Close out of open positions Out of the penalty, 2% will be credited to IPF and 0.5% will be credited to the counter party. While, out of the replacement cost recovered, 90% will be passed on to the counterparty and 10% will be retained by the Exchange. All other charges, levies or APMC Cess applicable at the delivery center will be on account of buyer. The buyer will pay sales tax or VAT, whichever is applicable and the seller will issue invoice in the name of the buyer, reflecting the sales tax or VAT paid by him. In case of Inter state movement, buyer has to submit requisite forms or pay CST as applicable. Post lifting delivery charges are borne by the buyer. All outstanding positions on the expiry date of the contract which are not resulted into delivery shall be closed out at DDR and respective pay-in and pay-out of funds of such close out shall be effected on 1 st day after the last trading day by 11.00 a.m.
Page 1: Multi Commodity Exchange of India L
Page 5 and 6: Each delivery order issued shall be

Multi Commodity Exchange of India Ltd. - MCX

You also want an ePaper? Increase the reach of your titles

Delete template?

Save as template?