Common use of Offer and Bid Clause in Contracts

Offer and Bid. Prices We publish offer and bid prices on the Depository Online website. Offer price is the price at which we are willing to sell Precious Metal to you, that is, the price you will pay when buying Precious Metal from us. Bid price is the price at which we are willing to buy Precious Metal from you, that is, the price you will receive when selling Precious Metal to us. The prices of our products and services are subject to developments on the financial markets. Your buying and selling orders are executed at the offer and bid prices published on the website at the time that we execute the order. Prices given or offered are firm and are intended when you offer to buy to sell to constitute an offer by you that simply requires acceptance by us to result in an agreement. You authorise us to accept your order to offer to buy or offer to sell Precious Metal as an instruction to proceed directly with the settlement of any order that can be fully or partially executed on your behalf. If we cannot execute transactions in the international Precious Metal market for whatever reason, no prices will be published. We reserve the right to sell to and buy from you on our own behalf and that while we buy and sell Precious Metals for our own account and for the accounts of our clients, we are not a Precious Metals exchange nor are we a market maker.