Settlement arrangements Clause Samples
The 'Settlement arrangements' clause defines the procedures and terms under which payments or obligations between parties are finalized following a transaction or agreement. It typically outlines the timing, method, and conditions for transferring funds or assets, such as specifying bank account details, deadlines for payment, or the process for confirming receipt. This clause ensures that both parties have a clear understanding of how and when settlements will occur, thereby reducing the risk of disputes and facilitating smooth completion of contractual obligations.
Settlement arrangements. Northbound Trading follows the settlement cycle of A shares listed on the relevant China Connect Market. For settlement of China Connect Securities trades, ChinaClear will debit or credit the securities accounts of its participants (including HKSCC as clearing participant) on the Trading Day on which the order is made (“T day”) free of payment. Galaxy International Securities may have settlement arrangements in place that are different from the ChinaClear settlement arrangements. Unless Galaxy International Securities agrees to prefund, settlement of funds relating to such trading will be effected on the Trading Day following T day (“T+1 day”).
Settlement arrangements. 6.2.1 Providers must be set up on Harmony and Tradex systems a minimum of 3 months before the start of service delivery or before the Call Off Contract is awarded when procurement is occurring less than 3 months ahead of delivery.
Settlement arrangements. Unless the Commitment Termination Date has occurred, Collections that would otherwise be payable to the Company may be applied as payment for all or part of any Further Instalment under any Further Notice that is payable by the Company on the day the Collections are payable to the Company.