SPOT Clause Samples

The 'Spot' clause defines the terms and conditions under which goods or services are provided for immediate delivery and payment, rather than at a future date. In practice, this clause applies to transactions where the exchange occurs promptly, such as the purchase of commodities or currencies at current market rates, with settlement typically completed within a short timeframe. Its core function is to ensure clarity and certainty in transactions by specifying that obligations are fulfilled without delay, thereby reducing the risk of price fluctuations or non-performance associated with deferred settlement.
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SPOT. Regasification service, reserved for subscribed Unloadings, for a Given Month M, after the twentieth (20th) Day of Month M-1 as described in paragraph 6.1.2 of the General Terms and Conditions.
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SPOT. This SPOT service can only be subscribed to after the twentieth (20th) day of Month M-1 for Month M. For any Shipper that has subscribed to the SPOT service, the Send-Out profile for Month M is determined by the Operator so as to correspond to the request from the Shipper subject to its impact on the Send-Outs from other Shippers complying with the rules described in Appendix 6, article 2. For Month M+1 and for the quantities remaining at the end of Month M (Shared Stock Level), the Shipper benefits from the services and options defined in paragraphs 6.2, 8.1 and 8.2 and said quantities will be issued in Month M+1 according to the SMART rules described in Appendix 6, article 1.
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SPOT. SPOT contracts are often applied during peak seasons when the existing capacities are no longer sufficient. This contract type consists of the same elements as the COA, but operates through shorter notice-time. The vessels are no longer managed by the charterer, but by the ship-owners, who determines whether they accept to complete the order or reject it. The SPOT prices are dependent on the market situation (supply and demand). However, it is considered as very expensive in the long run (in general 4 times as high as TC-contracts, and 2 times the cost of COA) and therefore used only in specific situations when other vessel capacity is not available.
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SPOT. Cost components not included in the Contract Price, but incurred by Seller will be billed to Buyer at the applicable market rate. FUEL ON INTERSTATE PIPELINE - Will be billed by Seller to Buyer at the monthly index price for gas delivered to the Delivery point specified herein. -------------------------------------------------------------------------------- TERMINATION PROVISIONS The initial term of this agreement is as stated under CONTRACT TERM. Unless terminated by either party giving 60 days written notice to the other party, this contract will automatically renew for additional two-year terms, beginning April 1 of each year and continuing through March 31 of the end of the term year. --------------------------------------------------------------------------------
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SPOT. An agreement to exchange sums of currency at an agreed-on exchange rate on a value date that is within two bank business days’ time.
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Related to SPOT

  • Rate of Exchange upon request by the Issuer, inform the Issuer of the spot rate of exchange quoted by it for the purchase of the currency in which the relevant Notes are denominated against payment of euro (or such other currency specified by the Issuer) on the date on which the Relevant Agreement (as defined in the Dealer Agreement) in respect of such Notes was made; and

  • Quotations Unless otherwise agreed any quotation given will normally remain valid for a period of 30 days from the date it is provided to you. We reserve the right to withdraw a quotation in certain circumstances, for example, where the insurer has altered their premium or terms for the insurance since the quotation was given or if a claim / incident has occurred since the terms were offered.

  • Exchange Rate The transfers referred to in Articles 6 to 8 of this Agreement shall be effected at the prevailing market rate in freely convertible currency on the date of transfer

  • Currency Fluctuations If on any Computation Date the Revolving Facility Usage is equal to or greater than the Revolving Credit Commitments as a result of a change in exchange rates between one (1) or more Optional Currencies and Dollars, then the Administrative Agent shall notify the Borrower of the same. The Borrower shall pay or prepay (subject to Borrower’s indemnity obligations under Sections 5.8 [Increased Costs] and 5.10 [Indemnity]) within one (1) Business Day after receiving such notice such that the Revolving Facility Usage shall not exceed the aggregate Revolving Credit Commitments after giving effect to such payments or prepayments

  • Currency All sums of money which are referred to in this Agreement are expressed in lawful money of Canada, unless otherwise specified.