SPSA Orders Clause Samples
The 'SPSA Orders' clause defines the procedures and requirements for placing orders under a Stock Purchase and Sale Agreement (SPSA). It typically outlines how orders are submitted, the information that must be included (such as quantity, price, and delivery terms), and any timelines or conditions that must be met for an order to be valid. For example, it may specify that orders must be made in writing and confirmed by both parties before execution. This clause ensures that both buyer and seller have a clear, standardized process for initiating and managing transactions, reducing the risk of misunderstandings or disputes regarding order placement.
SPSA Orders delivery versus payment
SPSA Orders delivery versus payment Notwithstanding that a delivery versus payment mechanism may be offered by SEHK or CCASS for SPSA orders, unless FSL agrees to pre- fund, freely transferable funds may only be credited by the relevant clearing bank to the Customer’s account with the custodian or settlement agent, as applicable, in accordance with the CCASS operations and procedures after the settlement day upon which the delivery obligations in respect of such SPSA orders are required to be settled. Any risk, liability, loss, cost or expense resulting from this delay shall be borne by the Customer.