Contract Specification of Coconut Oil - MCX

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Position For a member collectively for all clients: 6000 MT or 15% of the market-wide open position, whichever is higher. Near Month Limits For individual clients: 400 MT For a member collectively for all clients: 1200 MT or 15% of the market-wide open position, whichever is higher Delivery Delivery unit 10 MT with tolerance limit of 2% Delivery center(s) CWC warehouse and other warehouses within 30 kms radius of Kochi as may be approved by MCX Quality Specification and Delivery standards Quality Specification and Delivery standards Colour on lovibond scale 1” Not deeper than 4 units coll expressed as y+5r Specific gravity at 30°C 0.915 to 0.920 Refractive index at 40°C 1.448 to 1.449 Saponification value Not less than 250 Iodine value (wij’s method) 7.5 to 10.0 Unsaponifiable matter not more than 0.5 percent FFA as oleic acid (in percent) FFA shall not be exceed 1.5 Polenske value not less than13 Moisture Maximum 0.10 percent by weight Coconut oil shall be the product obtained from copra and shall be free from admixture with any other oil or substance. It shall be clear and free from suspended and other foreign matters, separated water as per these specifications. It shall have a sweet taste and characteristic odour of coconut oil. It shall be free from rancidity. Delivery & Settlement procedure of Coconut Oil Delivery logic Both Option Tender day 1 st working day after expiry of contract by 6.00 p.m. Tender and delivery period 1 st to 3 rd working day after expiry of the contract. Buyer’s and Seller’s Intention Mode of communication Matching of Buyer’s and Seller’s intention On the contract expiry day of the contract by 6.00 p.m. Seller will submit copies of documentary evidence such as Warehouse Receipt and Valid Quality Certificate along with the intention to give delivery to the effect that he is holding stock at the time of giving his intention. 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 will be closed out as per the due date rate and actual delivery will be effected only to the extent of matched quantity. Dissemination of the information on On the contract expiry day by 7.00 p.m.
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 25% margin will be imposed on both buyers and sellers on matched quantity. Delivery period margin is exempted if goods are stored in the Exchange designated warehouse or seller’s godown as the case may be and the seller submits documentary evidence thereof to the Exchange. On expiry date of the Contract At due date rate (DDR) On tender days E+3 working day by 11.00 a.m. (E means Expiry date) 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 days 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 4% will be from the defaulting buyer / seller. recovered 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. Taxes, Duties, Cess and Levies Due date rate Odd lot treatment Adjustment of transportation cost Warehouse, insurance and transportation charges Buyer’s option for lifting of delivery Ex – Kochi (inclusive of all taxes, levies and packing charges) Sales Tax/VAT and any other tax or levies will be on account of the Seller as applicable. Inter-State movement, buyer has to submit requisite forms or pay CST as applicable. Post lifting delivery all charges are borne by the buyer. DDR is calculated on the last day of contract maturity by way of taking the simple average of last 3 day’s spot price. For obtaining the prices of the spot market, the Exchange will take the prices from a panel of market participants associated and take average price. Delivery will be effected only on delivery lot basis. In case of any odd lot the delivery will not be marked and the same will be closed out at the DDR and penalty to such buyer / seller will be levied a minimum penalty @5% of DDR. 90% of the penalty collected shall be passed on to the counter party while 10% will be appropriated by the Exchange. Not Applicable. -Borne by the seller upto commodity pay-out date -Borne by the buyer after commodity pay-out date Buyer will not have any option about choosing the place of delivery and will have to accept the delivery as per allocation
Page 1: Symbol Description January contract
Page 5 and 6: Failing of First Sample sealed samp

Contract Specification of Coconut Oil - MCX

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