Common use of Delivery Procedures Clause in Contracts

Delivery Procedures. (a) The Delivery Notices shall be allocated on the business day subsequent to their receipt by BM&F. (b) The Delivery Notices shall be disclosed on the floor to be chosen by the customers holding long positions. BM&F shall offer the Delivery Notices to the buyers on a first in, first out basis—that is, the customers who have held long positions for the greatest amount of time shall have priority. Should there be no parties interested in receiving all or part of the commodity in the Delivery Notices, BM&F shall determine that the customer(s) who has(ve) held long position(s) for the greatest amount of time shall take delivery of the corn. (c) The buyers who shall take delivery of corn must send to the Exchange through their Commodities Brokerage House, by no later than 10:00 a.m. (local time) of the second business day subsequent to the day they have been designated a Delivery Notice, the information required for invoice purposes. In addition, the seller, after receiving the personal data of the buyer defined by BM&F, must issue the bill of sale for delivery purposes. (d) Both resident and nonresident buyers, as well as the sellers residing in Brazil, shall be allowed to assign third parties to make or take delivery of the corn. The assigned customers, who must also send their personal data for invoice purposes, among other obligations arising out of or relating to the contract, shall be financially, commercially, and fiscally bound thereto, up to the delivery’s final settlement. In addition, the original buyer and seller shall be liable for the obligations of the third parties they have assigned, up to the delivery’s final settlement. It shall be mandatory for a nonresident seller to assign a resident in Brazil to whom delivery rights and obligations must be transferred. The nonresident buyer may appoint a legal representative to provide transportation and shipment, as well as to meet any further requirements defined by competent public agencies. (e) Corn eligible for delivery must be stored in Exchange-licensed warehouses/silos, which shall also be obliged to contract all risk coverage normally required by BM&F, in addition to quality insurance.

Delivery Procedures. (a) The customer who decides to make delivery shall formalize his/her/its intention by sending the Exchange a Delivery Notice, during the period established in item 14.1, through his/her/its Brokerage House. The Delivery Notices docketed by the BM&F Derivatives Clearinghouse up to 18:00 (local time) shall be allocated disclosed to the market on the next business day subsequent to their receipt by BM&F. (b) during trading hours and remain available on the floor. The Delivery Notices tendered after 18:00 (local time) shall only be disclosed to the market on the floor to be chosen by the customers holding long positionsfollowing business day. BM&F shall offer the lots in the Delivery Notices to the buyers on a first in, first out basis—that is, the customers who have held long positions for the greatest amount of time shall have priority. Should there be no parties interested in receiving all or part of the commodity in the Delivery Notices, BM&F shall determine that the customer(s) who has(ve) held long position(s) for the greatest amount of time shall take delivery of the corn. (c) coffee. The buyers who shall choose to take delivery of corn coffee or who are designated by BM&F to do so must send to the Exchange Exchange, through their Commodities Brokerage House, by no later than 10:00 a.m. (local time) of the second business day subsequent to the day they have been designated a Delivery NoticeHouses, the information required for invoice purposespurposes on the day of their designation (the day a Delivery Notice has been designated to the buyer). In addition, the seller, after receiving the personal data of Both the buyer defined by BM&F, must issue and the bill of sale for delivery purposes. (d) Both seller resident and nonresident buyers, as well as the sellers residing in Brazil, Brazil shall be allowed to assign third parties to take or make or take delivery of the corncoffee. The assigned customers, who must also send their personal data for invoice purposes, among other obligations arising out of or relating shall be bound to the contract, shall be financially, commercially, and fiscally bound thereto, contract up to the delivery’s final settlement. In addition, the original buyer and seller shall be liable assume responsibility for the obligations of the third parties they have assigned, up to the delivery’s final settlement. It shall be mandatory for a nonresident seller to assign a resident in Brazil to whom delivery rights and obligations must be transferred. The It shall be mandatory for a nonresident buyer may to appoint a legal representative to provide transportation and shipment, as well as to meet any all further requirements as defined by competent public agencies. the Foreign Trade Office (eSECEX) Corn eligible for delivery of the Development, Industry and Commerce Ministry (MDIC). The seller or assigned customer, hereinafter referred to as seller, must register through his/her/its Brokerage House the certificates to be delivered in the electronic system offered buy BM&F, which must be stored electronically confirmed by the warehouse. The warehouse must also send to BM&F the following documentation to be issued by the warehouse itself: – A packing list for the lot; – A declaration verifying coffee ownership free of any and all charges, including fiscal debts, and stating that the bags, when delivery is made in Exchange-licensed warehouses/silosjute bags, which shall also be obliged meet the standards referred to contract all risk coverage normally required by in item 14.3; – A provisional delivery order of the goods to BM&F; – A certificate showing that storage and regular insurance expenses have been paid, in addition to quality insurancecovering a 15 day- period, counted as from the Delivery Notice issuance date.

Delivery Procedures. The Delivery Notices shall be designated by BM&F on the business day subsequent to the corresponding electronic registration in the Physical Delivery System, and the following procedures shall be adopted. (a) The Delivery Notices shall be allocated on the business day subsequent to their receipt by BM&F. (b) The Delivery Notices shall be disclosed remain available on the floor to be chosen by the customers holding who hold long positions. BM&F shall offer the lots in the Delivery Notices to the buyers on a first in, first out basis—— that is, the customers who have held long positions for the greatest amount of time shall have priority. Should there be no parties interested in receiving all or part of the commodity in the Delivery Notices, BM&F shall determine that the customer(s) who has(ve) held long position(s) for the greatest amount of time shall take delivery of the cornsoybean. (b) The seller resident in Brazil shall be allowed to assign a third party to take delivery of the soybean, provided he/she/it does so on the date of the Delivery Notice electronic registration. The buyer resident in Brazil shall be allowed to assign a third party to make delivery of the soybean. This assignment shall take place no later than 09:00 (Brasília time) of the third business day subsequent to the day a Delivery Notice has been designated to the buyer. (c) The third party assignment referred to in the previous item can only be made in observance to the procedures established by BM&F, thus implying the mandatory presentation of the documentation detailed in Attachments VII and VIII. (d) The buyers who shall choose to take delivery of corn the soybean or who are designated by BM&F to do so must send to the Exchange Exchange, through their Commodities Brokerage House, by no later than 10:00 a.m. (local time) of the second business day subsequent to the day they have been designated a Delivery NoticeHouses, the information required for invoice purposes. In additionpurposes up to the day of their designation (the day a Delivery Notice has been designated to the buyer), the seller, after receiving the personal data of the buyer defined by BM&F, must issue the bill of sale for delivery purposes09:00 (local time). (de) Both resident and The nonresident buyers, as well as the sellers residing in Brazil, shall be allowed to assign third parties to make or take delivery of the corn. The assigned customers, who buyer must also send their personal data for invoice purposes, among other obligations arising out of or relating to the contract, shall be financially, commercially, and fiscally bound thereto, up to the delivery’s final settlement. In addition, the original buyer and seller shall be liable for the obligations of the third parties they have assigned, up to the delivery’s final settlement. It shall be mandatory for a nonresident seller to mandatorily assign a resident in Brazil to whom delivery rights and obligations must be transferred. The This assignee shall become the nonresident buyer may appoint a buyer's legal representative to provide responsible for providing transportation and shipment, as well as to meet any further and for meeting all other requirements defined by competent public agenciesthe Foreign Trade Office (SECEX) of the Development, Industry and Commerce Ministry (MDIC). (ef) Corn eligible The third party assigned by either buyer or seller shall assume responsibility for delivery all obligations and requirements established in this contract, up to its final settlement. In either case, both original buyer and seller shall remain jointly and subsidiarily responsible for any and all obligations of the third parties they have assigned, up to the contract’s final settlement. (g) On the fourth business day subsequent to the day a Delivery Notice has been designated to the buyer, in possession of the data corresponding to the buyer or assigned customer, hereinafter referred to as buyer, the seller or assigned customer, hereinafter referred to as seller, shall issue the bill of sale for invoice purposes, on which all the information required by law must be stored included by the seller, as well (h) By not later than 16:00 (Brasília time) of the fifth day subsequent to the day a Delivery Notice has been designated to the buyer, the buyer must send to BM&F through his/her/its Brokerage House the original and a copy of the duly signed Exportation Invoice Letter, as referred to in Exchange-licensed warehouses/silosAttachment VI. (i) Any delay in the receipt of the buyer’s data, which in the seller’s bill of sale issuance, in the Exportation Invoice Letter issuance, as referred to in Attachment VI, or in the payment of the settlement value by the buyer shall also imply the application by BM&F of a 1% fine upon the settlement value to be obliged paid to contract all risk coverage normally required BM&F by the party at fault within a determined time frame, without prejudice to the party being declared a defaulter by BM&F, in addition to quality insuranceas the case may be.