TELEPHONE DEALING Clause Samples
The TELEPHONE DEALING clause establishes the rules and procedures for conducting transactions or giving instructions over the telephone. Typically, it outlines how parties can place orders, confirm trades, or make changes to agreements via phone calls, and may specify requirements such as recording calls or verifying the identity of the caller. This clause ensures that telephone communications are recognized as valid and binding, providing flexibility for parties to act quickly while also reducing the risk of disputes over verbal instructions.
TELEPHONE DEALING. 6.1 When dealing over the telephone, you must give your name and account number or username. Without this information, the Order may not be accepted even if it is to close an existing open Transaction. When dealing over the telephone the Order will only be accepted by us when the dealer confirms that your Order has been accepted. The verbal acceptance of an Order by one of our dealers does not negate either our or your rights in the event of a Pricing Error.
6.2 A Quote made over the telephone is only valid at that moment in time and may not be available on any subsequent telephone call, or throughout the initial telephone call. Quotes that have been given as “indication only” are not valid and Orders cannot be executed on them unless otherwise agreed by us. Quotes that have been qualified or Quotes that you have been told are no longer valid before you place an Order are also not tradable.
6.3 All calls to our telephone lines are recorded, and you hereby agree to the recording of such conversations. Each Platform retains chronological histories of all Transactions (including Transactions entered by a dealer following an instruction by telephone) and an electronic audit trail of all your activity (although this is not guaranteed). All such records and recordings of telephone conversations are our exclusive property and may be used as evidence in any dispute.
TELEPHONE DEALING. (a) (Communications may be made by Telephone): All notices, quotes, acceptances and other communications required by or made in connection with each Hedge or the making of each Hedge may be made by telephone.
(b) (Entitled to Assume Dealing with Authorised Officer): Each party will be entitled to assume, in the absence of knowledge to the contrary, that a person who claims or purports to be a person who is an Authorised Officer of another party is in fact that person, and that other party shall be bound by all communications made by that person.
TELEPHONE DEALING. Standard Terms of H▇▇▇▇▇