DIFFERENCE AND SETTLEMENT Clause Samples
The 'Difference and Settlement' clause establishes a process for resolving disputes or disagreements that arise between parties under a contract. Typically, this clause outlines the steps the parties must take to address and settle any differences, such as negotiation, mediation, or arbitration, before resorting to litigation. By providing a structured mechanism for dispute resolution, the clause helps prevent prolonged conflicts and ensures that issues are addressed efficiently and fairly, thereby maintaining the stability of the contractual relationship.
DIFFERENCE AND SETTLEMENT. 12.1. Upon completing a Transaction:
a. The Client shall be liable for the Difference if the Transaction is:
i. a Sell, and the closing price of the Transaction is higher than the opening price of the Transaction; or ii. a Buy, and the closing price of the Transaction is lower than the opening price of the Transaction.
b. The Client shall receive the Difference if the Transaction is:
i. a Sell, and the closing price of the Transaction is lower than the opening price of the Transaction; or
ii. a Buy, and the closing price of the Transaction is higher than the opening price of the Transaction.
12.2. Unless the Company agrees otherwise, the Client hereby authorizes the Company to debit or credit the Client Account with the relevant sums at the closing of each Transaction. It is understood that once the Client places an Order, until such Order is executed, and the Transaction is closed, the Maintenance Margin shall not be used as collateral and hence shall be unavailable for withdrawal.
DIFFERENCE AND SETTLEMENT. Upon completing a Transaction:
DIFFERENCE AND SETTLEMENT. 14.1. Upon completing a Transaction:
a. The Client shall be liable for the Difference if the Transaction is:
DIFFERENCE AND SETTLEMENT. 11.1. Upon completing a Transaction:
a) The Client shall be liable for the Difference if the Transaction is:
i. a Sell, and the closing price of the Transaction is higher than the opening price of the Transaction; or
ii. a Buy, and the closing price of the Transaction is lower than the opening price of the Transaction.
b) The Client shall receive the Difference if the Transaction is:
i. a Sell, and the closing price of the Transaction is lower than the opening price of the Transaction; or
ii. a Buy, and the closing price of the Transaction is higher than the opening price of the Transaction.
11.2. Unless the Company agrees otherwise, all sums for which either Party is liable under paragraph 11.1 above are immediately payable upon closing of the Transaction. The Client hereby authorises the Company to debit or credit the Client Account with the relevant sums at the closing of each Transaction. It is understood that once the Client places an Order, until such Order is executed and the Transaction is closed, the Maintenance Margin shall not be used as collateral and hence shall be unavailable for withdrawal.
DIFFERENCE AND SETTLEMENT. 13.1. Upon completing a Transaction:
a) The Client shall be liable for the Difference if the Transaction is:
i. a Sell, and the closing price of the Transaction is higher than the opening price of the Transaction; or