Common use of Purchases and Payments Clause in Contracts

Purchases and Payments. 1.1 Customer may place an order (each, a "Purchase Order") with a Xxxxxxx Capital representative (each, a "Xxxxxxx Capital Representative") by telephone for the purchase, sale and delivery of Products which shall have the same effect as if the Purchase Order was made in writing. Customer's Purchase Order will be confirmed during a recorded confirmation with a Xxxxxxx Capital Representative to ensure the details of the Purchase Order are correct and will include the price, quantity, method of payment and delivery and other material terms of the Purchase Order. Purchase Orders for bullion cannot be accepted prior to Rosland’s receipt of good funds, and after receipt of such funds the final terms of the Purchase Order will be confirmed during a recorded confirmation with a Xxxxxxx Capital Representative.