Multi Commodity Exchange of India Ltd. - MCX

expiry date fails to deliver then penalty shall be imposed asper the penal provisions mentioned below.Tender PeriodDelivery periodTender notice / Delivery Pay-inLast five working days and 1 st working day after expiry of thecontract.Three working days after expiry of the contractThe seller may issue tender notice during tender days andWarehouse Receipt and Quality Certificate issued by QualityCertifying agency by tender period.Any outstanding positions will be marked for delivery at theexpiry of the contract.Mode of communicationTender Period MarginDelivery Period MarginExemption from DeliveryPeriod MarginDelivery allocation- Date- RateDelivery pay-inDelivery pay-outPay-in of fundsPay-out of fundsPenal provisionFax or courier3% incremental margin for last 5 days on all outstandingpositions.25% on marked quantityDelivery Period Margin is exempted if goods tendered ondesignated tender days of the contract month with all thedocumentary evidence.All open positions after closing hours on expiry date.On contract expiry dateAt DDR (Due date rate)1 st working day after expiry of the contract.E+3 working days by 11.00 a.m. (E - Expiry date).E+2 working days by 11.00 a.m.E+3 working days by 11.00 a.m.In case the buyer opts for second sampling the funds pay-out willbe done only after completion of sampling procedure but notlater than 3 working days after the delivery pay-out.I – Seller having open position on expiry of the contract, has tocompulsorily deliver.If the seller fails to deliver, then the open position will be closedout at higher of the following two rates1) Due Date Rate (DDR) of the contract or2) Spot market price, as disseminated by the Exchange, onthe date of the pay in default/refusal by the seller to givedelivery.Accordingly,1) If DDR is lower than the spot market price as mentionedabove- the difference between the two will be debited tothe seller, and2) A penalty of 5% will be imposed for delivery default.II - In case a buyer refuses to take delivery or fails to honour hisfund obligations then the open position will be closed out atlower of the following two rates