CLEARING TRANSACTIONS Sample Clauses
The "Clearing Transactions" clause defines the process by which financial transactions are settled between parties, typically through a clearinghouse or intermediary. It outlines the steps and requirements for confirming, matching, and finalizing trades, including timelines for settlement and the responsibilities of each party involved. This clause ensures that all transactions are accurately processed and reduces the risk of default or error, thereby promoting efficiency and reliability in financial dealings.
CLEARING TRANSACTIONS. (a) Delivery of Trade Details; Risk; Settlement Payment. When ▇▇ ▇▇▇▇▇▇ engages in Clearing Transactions for you: (i) you will furnish trade details in accordance with ▇▇ ▇▇▇▇▇▇’▇ requirements as to content, manner and timeliness of delivery, as may be established from time to time; (ii) written instructions to you from ▇▇ ▇▇▇▇▇▇ shall include transmissions by or through facsimile transmission or delivered electronically (using the facsimile number or email address listed in our records); (iii) you shall bear all the risks and costs related to each Clearing Transaction, including non-performance by any Relevant Counterparty; (iv) unless ▇▇ ▇▇▇▇▇▇ extends credit to you, no later than the time at which ▇▇ ▇▇▇▇▇▇ becomes obligated to a Relevant Counterparty, you will provide ▇▇ ▇▇▇▇▇▇, and be responsible for, the settlement payment (including the necessary securities) to enable ▇▇ ▇▇▇▇▇▇ to process, clear and settle the delivery of the securities and cash related to such Clearing Transaction, and any cash or securities necessary to meet a demand for margin made by any Relevant Counterparty. If either you or any Relevant Counterparty fails for any reason to settle the transaction and/or return any free delivery within a reasonable period of time, as determined by ▇▇ ▇▇▇▇▇▇, you will be solely liable to ▇▇ ▇▇▇▇▇▇ for any and all loss, expenses or fail costs in connection therewith. ▇▇ ▇▇▇▇▇▇ shall have no liability whatsoever to you in any such circumstance. Nothing contained herein shall be construed as imposing liability on any ▇▇ ▇▇▇▇▇▇ Entity as a principal party in connection with any Clearing Transaction in which it is acting as agent and you shall not, under any circumstance, represent to any third party broker or dealer or any other entity that any ▇▇ ▇▇▇▇▇▇ Entity acts as a guarantor of any such Clearing Transaction.
CLEARING TRANSACTIONS. The Parties may by mutual consent in their sole discretion elect to clear or allow a designated third party to clear on its own behalf any Transactions with a third party Exchange, broker or other mechanism in lieu of direct transfer from Seller to Buyer’s Holding Account as contemplated herein.
CLEARING TRANSACTIONS. IX.1 At the moment when the Bank learns that the Card has been used to order a Payment Transaction, it typically reserves Funds in the Account for the amount specified by the Payment Order. If multiple currencies are held in the account, the reservation of Funds will be made in the currency designated as the primary currency. The Available Balance of the Account will be decreased by the amount of the reserved Funds.
IX.2 The Bank will clear transactions carried out with the Card against an Account with foreign currency on the day of transaction clearance. The moment the Payment Order is accepted to carry out a transaction made with the Card is the Banking Day when the Bank receives the request for clearing the transaction (Payment Order) from the Merchant’s provider of payment services or a provider of payment services or a subject which operates an ATM or provides Cash Advance or Cash Back service with all information necessary for carrying out the Payment Transaction (hereinafter the “moment of transaction acceptance”). The time near the end of the working day is 4 pm for Payment Orders made with the Card. In the event that the Bank receives a Payment Order after the agreed time near the end of the working day, the Payment Order shall be considered to be accepted on the next Banking Day. The deadlines by which Funds will be credited to the account of the provider of payment services of the recipient are further specified in the Information on Payment Deadlines.
IX.3 For Cards which are issued for Accounts without
(i) Transactions are cleared in the Account in which the reservation of Funds was made. If such reservation was not made, the transaction is cleared in CZK in the Account held in CZK while a transaction in another currency will be cleared in the appropriate foreign currency Account, regardless of the available balance of the Account. For the purposes of clearing the transaction, the Exchange Rate determined by the List of Exchange Rates valid upon the receipt of the Payment Order to carry out the transaction adjusted for the Exchange Rate surcharge determined in the Price list. The amount cleared is determined by using the valid exchange rate as follows: • Amount debited from the Account = the amount in the currency of the transaction × the exchange rate for selling the currency of the transaction (DP) increased by the Exchange Rate surcharge determined in the Price list/the exchange rate for purchasing the currency of the Account (DN), reduced ...
CLEARING TRANSACTIONS. COSCO SHIPPING Finance will provide clearing services to members of the Group, for which no service fee will be charged for the time being.
CLEARING TRANSACTIONS. (a) Delivery of Trade Details; Risk; Settlement Payment. When ▇▇ ▇▇▇▇▇▇ engages in Clearing Transactions for you: (i) you will furnish trade details in accordance with ▇▇ ▇▇▇▇▇▇’▇ requirements as to content, manner and timeliness of delivery, as may be established from time to time; (MKL) Standard Form IAA 2017-02-15
CLEARING TRANSACTIONS. No service fee will be charged by COSCO Finance for any clearing services to be provided to members of the Group.
CLEARING TRANSACTIONS. The Parties may by mutual consent in their sole discretion elect to clear or allow a designated third party to clear on its own behalf any Transactions with a third party exchange, broker or other mechanism in lieu of direct transfer from Seller to Buyer’s Holding Account as contemplated herein. TAXES AND ACCESS TO FINANCIAL INFORMATION Taxes. Seller shall pay all taxes imposed by any Governmental Authority (“Governmental Charges”) with respect to Products transferred in a Transaction that arise before Buyer receives such Products in Buyer’s Holding Account. Buyer shall pay all Governmental Charges with respect to Products transferred in a Transaction from and after Buyer receives such Products in Buyer’s Holding Account. Taxes in the form of ad valorem taxes, franchise taxes and income taxes (and any similar taxes imposed on the Parties based upon participation in the Tracking System or income derived from trading Products) shall be borne by each Party with regard to its respective income obligations.
CLEARING TRANSACTIONS