China Futures Exchange contract specifications
Shanghai Metal Exchange No. 1 Copper Standard Contract
Shanghai Metal Exchange
China. Shanghai __year__month__day
____ members have sold 25 tons of copper No. 1 in accordance with the following Article 3, the price is __ yuan per ton, delivery month __.
This contract is formulated in accordance with the "Interim Regulations on the Administration of Shanghai Metal Exchanges" and the "Shanghai Metal Exchange Trading Futures Trading Rules". You and the Shanghai Metal Exchange will sign as parties, and you accept all the obligations and provisions of this contract. And agree to fulfill the responsibility according to the following rules.
In order to ensure the strict performance of the contract, you must pay the initial deposit to the exchange at the time of the transaction. According to market changes, when price fluctuations are not conducive to your changes, you will be required to pay a margin call to cover the difference between the contract price and the settlement price. In the event of any failure of you to perform the above obligations, the ownership of the transaction will force the liquidation of all or part of the contract held by you to compensate for the losses caused by your breach of contract. When the Exchange takes the above actions, there is no responsibility or obligation to reduce or protect you from losses. If it is not enough to cover the loss, the ownership of the transaction will continue to be pursued by you.
Specific regulations for No. 1 copper
1. Quality: The grade of electrolytic copper No. 1 in this contract must comply with the national standard GB 467-82 and GB466-82. The content of copper + silver is not less than 99.95%, and the weight of each piece is between 30-150 kg.
All copper delivered must be the No. 1 copper registered and approved by the Shanghai Metal Exchange, and accompanied by the quality certificate of the manufacturer. See Appendix A for a list of registration numbers.
2. Settlement: The contract is settled according to the settlement rules in the Shanghai Metal Exchange Trading Futures Trading Rules.
3. Delivery: The first copper of this contract must be delivered to the exchange's approved warehouse on the delivery date according to the brand and delivery location selected by the seller. The number of designated warehouse standard stacks provided in the performance contract is issued in 25 tons or an integral multiple thereof. Goods of the same contract must be stored in the same warehouse and have the same grade and the same specifications. The delivered goods must be whole plates or cut sheets to achieve the purpose of palletization. The length and width of the cut sheets should not be less than one-half of the whole board. The bundled packaging does not exceed 2.5 tons per bundle. The standard stack is implemented in accordance with the implementation rules of the warehouse standard stack specified by the Shanghai Metal Exchange.
4. Allow the difference in pounds: 2 ‰.
5. Delivery month: The delivery of this contract shall be carried out on a monthly basis in the month of the transaction or any month after the transaction.
6. Minimum floating price: The minimum floating price per ton of copper in the contract is 10 yuan, or an integral multiple thereof.
7. Arbitration: If the dispute arising from this contract cannot be settled through negotiation, it shall be submitted to the Supervisory Committee of the Exchange for arbitration according to the "Regulations of the Shanghai Metal Exchange." The party requesting the arbitration shall file a written application and acknowledge that the written decision made by the board of supervisors is final.
8. Others: Matters not mentioned in this contract are handled in accordance with the Interim Provisions on the Administration of Shanghai Metal Exchange and the Shanghai Metal Exchange Trading Futures Trading Rules.
Nanjing Petroleum Exchange Light Diesel Standard Contract
1.01 Product Name: Light diesel oil
Definition: Hydrocarbon liquid fuel that has been refined or distilled by crude oil and used in high-speed diesel fuel with a full load of 1000-1500 Hz/min.
1.02 Futures Contract Requirements Month and Time: Delivered at the time specified by the exchange and in the specified month.
Unit of measure for trading: Calculated by hand, each "hand" is 100 tons.
Quality Standard.
Minimum change price: 2 yuan per ton or 200 yuan per transaction unit.
The price of the contract: FOB Nanjing Port.
Daily price limit: Execute according to the notice of the Risk Management Committee.
Limit on the number of contracts:
The cumulative total of the number of contracts in a month for any account owned or controlled by any member shall not exceed more than 50 net long or net short positions, and the cumulative total of all the monthly contract amounts shall not exceed 3,000 net longs or net shorts.
You must not have more than 100 speculative contracts or more than 400 hedging contracts in the last ten trading days.
The above quantitative restrictions are appropriately relaxed by the special permission of the Board of Directors or the Risk Management Committee.
Last trading day: The last business day of the month before the contract month is the last trading day.
Modification of the contract: The exchange may revise the contents of the contract as necessary.
1.03 delivery:
Delivery method: a.FOB off-shipment delivery b. transfer within the c. pipeline delivery d.FOB off-the-ship inspection seller will light diesel from the oil depot to cross the buyer's ship's chord, the shore cost above the flange And the risk is borne by the seller. The full cost and risk of the flange below the ship to the side of the ship shall be borne by the buyer.
Place of delivery: The delivery warehouse approved by the exchange.
Delivery principle: In addition to the implementation of the provisions of this contract, the laws, regulations and regulations of the state and relevant departments must be observed.
Agree to the receipt and delivery of the goods The buyer shall submit a notice of consent to the receipt of the goods to the Exchange before 14:00 on the first trading day of the contract delivery date, which shall include the following points for the exchange to match.
a. buyer unit name b. quantity c. intended delivery method d. intended delivery location The seller must submit a notice of consent to delivery to the exchange before 14:00 on the first trading day of the contract delivery month, including the following content:
a. Name of the seller's unit b. Quantity c. Proposed delivery method d Proposed delivery location e. Other information The cd item in the notice of the buyer and seller must be clearly filled out; otherwise, it is matched by the exchange. The buyer must be ended with the result of the match.
After receiving the notice from the buyer and seller, the exchange matching delivery transaction must notify the parties of the result of the pairing before 16:30 on the second trading day.
a. According to the proposed delivery method and location submitted by the buyer and seller, in accordance with the location and method of delivery that are both accessible and economically reasonable, minimize the delivery and delivery points, and refer to the current restrictions imposed by the relevant departments.
b. In the specific implementation, the following principles are used for matching, and the location and method are preferred. If the location and method are the same, the larger the number of contracts is preferred; when the quantity is the same, the time of delivery and delivery is Priority pairing principle.
c. After receiving the matching notice of settlement delivery, the buyer and seller may make consultations, changes and adjustments if there are different opinions, and report the changes and adjustments to the exchange before 12:00 on the third trading day. If the negotiation fails, it must be submitted to the Exchange before 12:00 on the third trading day, and the settlement and delivery committee decides that the ruling is final and both the buyer and the seller are bound.
d. Prior to this, the buyer and the seller reached an agreement on the location and time of delivery, and followed the following principles: i. The delivery time of the FOB from the warehouse is determined by the buyer. Ii. If the seller proposes to settle in a non-registered warehouse, the discount should be based on the buyer's advantage; if the buyer proposes to settle in the non-registered warehouse, the discount or premium should be beneficial to the seller. Iii. The time for transfer within the warehouse or for the delivery of the jurisdiction is agreed by the buyer and the seller.
e. In the settlement of unregistered warehouses, the premium or discount on the price shall be agreed by the buyer and the seller, or may be carried out in accordance with the principle of the notice of the settlement and delivery committee.
The Proposed Delivery Notice The seller must submit a complete notice to the buyer by 14:00 on the third trading day of the delivery month, which should include:
a. buyer unit name b. seller unit name c. delivery location d. delivery method e. quantity of delivery f. selection of inspection method g. delivery period range h. delivery of buyer's documents i. Other information confirms the delivery notice. The seller must submit to the buyer a confirmation delivery notice in the format specified by the exchange before the buyer’s vessel is expected to arrive in Hong Kong or before the date of the transfer agreement. The contents must be the same as the delivery notice. The content is consistent. If the inconsistency is deemed to be a default by the seller, the buyer must confirm it by 16:30 on the same day and will confirm the copy to the exchange.
After the delivery notice has been confirmed by both parties, the buyer shall submit to the seller in writing the estimated time of arrival of the vessel.
Both parties shall work on the confirmed delivery date and use the delivery date as the date for calculating the late performance and default.
shipment. In addition to the transfer within the warehouse, once the fuel pipe is connected, the loading begins, and once it is removed, it is the end of the shipment.
After the buyer arrives at the port on the delivery date, the buyer shall submit a preparation notice to the seller in writing and calculate the time for the seller to start loading. The previous vessel demurrage shall be the responsibility of the buyer, after which The delay caused by the end of the shipment is the responsibility of the seller.
After receiving the buyer's preparation notice, the seller shall arrange the loading in time and complete it within the prescribed time. Claims for demurrage do not affect the claim for loss.
Transfer of Payments and Documents a. The Exchange shall receive the purchase price of the seller or the buyer on the first two trading days of the date of the scheduled delivery date or the date of the transfer of the ownership agreement. The buyer shall pay the entire contract for the payment of the contract, after the payment has been received. The exchange immediately refunds the deposit to the buyer's account. b. The seller must submit all the required documents to the exchange within three days after the completion of the loading. The transaction will be submitted to the buyer before the second trading day of the receipt of the document by 16:30, and the buyer will confirm the delivery. After signing, the exchange will refund the purchase price and transaction margin of the entire contract to the seller's account.
Inspection: The following inspection methods are available for purchase and seller selection.
i. The discretionary registered warehouse shall be subject to quality inspection and quantity inspection, and the quantity shall be based on the measurement of the oil storage tank.
Ii. In order to avoid disputes, the buyer and seller may appoint an inspector to check with the delivery warehouse when necessary, and the quantity of delivery shall be subject to the common inspection number.
Iii. The buyer and seller may also entrust the State Commodity Inspection Department to inspect, and all results shall be subject to the commodity inspection certificate. The inspection fee shall be borne by the entrusting party.
The allowable error range for the quantity delivered and the total amount of the contract:
a. Allowable error of ±1% under 1000 tons
B.1001-10000 tons weight tolerance error ±3%
c. 10001 or more weight allowance error ± 5%
The amount of error within the above allowable range is settled at the contracted transaction price.
If the allowable error range is exceeded, the excess or shortage will be settled with reference to the closing price of the trading day prior to the spot market loading and unloading date.
The risk of risk transfer of light diesel is transferred from the seller to the buyer with the delivery of the goods.
1.04 Futures trading related to products
After the transaction is stopped on the last trading day of the contract until 14:00 on the first trading day of the delivery month, the buyer and the seller may conduct futures trading of the products related to this contract. The buyer of the contract must be a seller of a certain amount of light diesel oil or related products. The seller of the contract must be the buyer of light diesel oil or related products, the quantity of related products and the number of contracts should be approximately the same, and the price difference caused by the difference in quality of related products is agreed by both parties.
The EFP's agreement report shall be reported to the Exchange on the day of the transaction and settled and delivered in accordance with the methods specified by the Exchange.
1.05 selective delivery
The buyer or seller of the contract may, in agreement with the other party to which the exchange is paired, settle the delivery method in a different manner, in which case the buyer and the seller jointly handle the agreed delivery notice in the format prescribed by the exchange, and The notice is sent to the Exchange on any day prior to 14:00 on a trading day prior to the twenty-fifth day of the delivery month. After this, the exchange is no longer responsible for the respective obligations and rights of the buyer and seller, but must be settled through the exchange. After receiving the notice, the exchange will return the buyer’s deposit to their respective accounts.
1.06 Default breach of contract means that the buyer and seller fail to fulfill their obligations in accordance with the contract.
The late performance refers to the failure of one party or both parties to perform their obligations in accordance with the date specified in this contract.
The total amount of the non-compliance portion is calculated as the number of non-performing parts multiplied by the closing price of the last trading day.
The responsible party for the late performance of the contract pays the fine to the exchange according to the following criteria.
The first day. The penalty is 1% of the total amount of the non-performance part
The second day. The penalty is 2% of the total amount of the non-performance part
The third day. The penalty is 2% of the total amount of the non-performance part
The fourth day. The penalty is 2% of the total amount of the non-performance part
The fifth day. The penalty is 3% of the total amount of the non-performance part
The above penalty is calculated cumulatively. On the sixth day, it is deemed to be a breach of contract, and the responsible party must pay a 10% penalty. The specific implementation method shall be formulated and promulgated by the settlement and settlement committee.
The fine shall be paid within five days after the settlement and settlement committee confirms the liability for breach of contract. Those who fail to pay according to the regulations shall be deemed to be in violation of the regulations, and the ownership of the transaction shall be deducted from the deposit and shall be punished.
In addition to paying a fine to the exchange, the defaulting party shall continue to perform the contract without the consent of the other party and shall be liable for the direct loss caused to the other party due to the late performance of the contract.
Other breach of contract conditions and responsibilities shall be implemented in accordance with national laws and relevant departmental regulations.
If the parties are dissatisfied with the dispute or claim, they may apply to the Exchange Hearing Arbitration Commission for arbitration.
1.07 Force Majeure Force majeure refers to the unforeseen, inevitable, and insurmountable accidents, such as wars, turmoil, floods, earthquakes, etc., that are caused by the failure of any party other than the contract.
If one of the parties fails to perform due to force majeure, it shall promptly notify the other party of the reasons for failure to perform or fail to perform fully, and after obtaining the relevant authority's certificate, permit the extension of performance, partial performance or non-performance of the contract, and according to the situation. Or all exempt from liability for breach of contract.
The party did not promptly notify the other party of the reasons for the failure to perform or could not fully perform the contract due to force majeure, resulting in the expansion of the other party's losses, and the liability for the expansion of the loss.
Unauthorized matters of force majeure shall be dealt with in accordance with the provisions of national laws.
Nanjing Petroleum Exchange Petrol Standard Contract
2.01 Product Name: Gasoline
Definition: A mixture of crude oil obtained by straight-running or straight-running and secondary processing, a mixture of a suitable antiknock agent and an anti-oxidation anti-adhesive agent for liquid fuels for ignited engines.
2.02 Futures Contract Requirements Month and Time: Delivered at the time specified by the exchange and in the designated month.
Unit of measure for trading: Calculated by hand, each "hand" is 100 tons.
Quality Standard
Minimum change price: 2 yuan per ton or 200 yuan per transaction unit.
The price of the contract: FOB Nanjing Port.
Daily price limit: Execute according to the notice of the Risk Management Committee.
Limit on the number of contracts:
The cumulative total of the number of contracts in a month for any account owned or controlled by any member shall not exceed more than 50 net long or net short positions, and the cumulative total of all the monthly contract amounts shall not exceed 2,000 net long or net short positions.
You must not have more than 100 speculative contracts or more than 200 hedging contracts in the last ten trading days.
The above quantitative restrictions are appropriately relaxed by the special permission of the Board of Directors or the Risk Management Committee.
Last trading day: The last business day of the month before the contract month is the last trading day.
Modification of the contract: The exchange may revise the contents of the contract as necessary.
2.03 delivery:
Delivery method: a.FOB off-shipment delivery b. Transfer within the c.FOB railway loading d. Pipeline delivery seller will pass gasoline from the oil depot to the ship's chord of the buyer's vessel, the shore charges and risks above the flange It is borne by the seller. The full cost and risk of the flange below the ship to the side of the ship shall be borne by the buyer.
Place of delivery: The delivery warehouse approved by the exchange.
Delivery principle: In addition to the implementation of the provisions of this contract, the laws, regulations and regulations of the state and relevant departments must be observed.
Agree to the receipt and delivery of the goods The buyer shall submit a notice of consent to the receipt of the goods to the Exchange before 14:00 on the first trading day of the contract delivery date, which shall include the following points for the exchange to match.
a. buyer unit name b. quantity c. intended delivery method d. intended delivery location The seller must submit a notice of consent to delivery to the exchange before 14:00 on the first trading day of the contract delivery month, including the following content:
a. Name of the seller's unit b. Quantity c. Proposed delivery method d. Proposed delivery location e. Other information The cd item in the notice of the buyer and seller must be clearly filled out; otherwise, it is matched by the exchange. The buyer must be bound by the results of his collocation.
After receiving the notice from the buyer and seller, the exchange matching delivery transaction must notify the parties of the result of the pairing before 16:30 on the second trading day.
a. According to the proposed delivery method and location submitted by the buyer and seller, in accordance with the location and method of delivery that are both accessible and economically reasonable, minimize the delivery and delivery points, and refer to the current restrictions imposed by the relevant departments.
b. In the specific implementation, the following principles are used for matching, and the location and method are preferred. If the location and method are the same, the larger the number of contracts is preferred; when the quantity is the same, the time of delivery and delivery is Priority pairing principle.
c. After receiving the matching notice of settlement delivery, the buyer and seller may make consultations, changes and adjustments if there are different opinions, and report the changes and adjustments to the exchange before 12:00 on the third trading day. If the negotiation fails, it must be submitted to the Exchange before 12:00 on the third trading day, and the settlement of the settlement committee shall be submitted. The ruling is final and both the buyer and the seller are bound.
d. Prior to this, the buyer and the seller agreed on the delivery location and time, and followed the following principles: i.FOB delivery time from the warehouse is determined by the buyer. Ii. If the seller proposes to settle in a non-registered warehouse, the discount should be based on the buyer's advantage; if the buyer proposes to settle in the non-registered warehouse, the discount or premium should be beneficial to the seller. Iii. The time of transfer or jurisdictional delivery within the warehouse is agreed by the buyer and the seller.
e. In the settlement of unregistered warehouses, the premium or discount on the price shall be agreed by the buyer and the seller, or may be carried out in accordance with the principle of the notice of the settlement and delivery committee.
The Proposed Delivery Notice The seller must submit a complete notice to the buyer by 14:00 on the third trading day of the delivery month, which should include:
a. buyer unit name b. seller unit name c. delivery location d. delivery method e. quantity of delivery f. selection of inspection method g. delivery period range h. delivery of buyer's documents i. Other information confirms the delivery notice. The seller must submit to the buyer a confirmation delivery notice in the format specified by the exchange before the buyer’s vessel is expected to arrive in Hong Kong or before the date of the transfer agreement. The contents must be the same as the delivery notice. The content is consistent. If the inconsistency is deemed to be a default by the seller, the buyer must confirm it by 16:30 on the same day and will confirm the copy to the exchange.
After the delivery notice has been confirmed by both parties, the buyer shall submit to the seller in writing the estimated time of arrival of the vessel.
Both parties shall work on the confirmed delivery date and use the delivery date as the date for calculating the late performance and default.
shipment. In addition to the transfer within the warehouse, once the fuel pipe is connected, the loading begins, and once it is removed, it is the end of the shipment.
After the buyer arrives at the port on the delivery date, the buyer shall submit a preparation notice to the seller in writing and calculate the time for the seller to start loading. The previous vessel demurrage shall be the responsibility of the buyer, after which The demurrage at the end of the shipment is the responsibility of the seller.
After receiving the buyer's preparation notice, the seller shall arrange the loading and proceed within the specified time. Claims for demurrage do not affect the claim for loss.
Transfer of Payments and Documents a. The Exchange shall receive the purchase price of the seller or the buyer or the first two trading days of the date of the transfer of the ownership. The buyer shall pay the entire contract for the payment of the contract, and the transaction shall be executed after the payment is received. The deposit is immediately refunded to the buyer’s account. b. The seller must submit all the required documents to the exchange within three days after the loading is completed. The Exchange will submit the buyer to the buyer by 16:30 on the second trading day of the receipt of the document. After the buyer signs the confirmation of delivery, the exchange will return the purchase price and the transaction deposit of the entire contract to the seller's account.
Inspection: The following inspection methods are available for purchase and seller selection.
i. The discretionary registered warehouse shall be subject to quality inspection and quantity inspection, and the quantity shall be based on the measurement of the oil storage tank.
Ii. In order to avoid disputes, the buyer and seller may appoint an inspector to check with the delivery warehouse when necessary, and the quantity of delivery shall be subject to the common inspection number.
Iii. The buyer and seller may also entrust the State Commodity Inspection Department to inspect, and all results shall be subject to the commodity inspection certificate. The inspection fee shall be borne by the entrusting party.
The allowable error range for the quantity delivered and the total amount of the contract:
a. The allowable error of weight below 1000 tons is ±1%;
b. 1001-10000 tons weight tolerance ± 3%;
c. The allowable error of more than 10001 tons is ±5%.
The amount of error within the above allowable range is settled at the contracted transaction price.
If the allowable error range is exceeded, the excess or shortage will be settled with reference to the closing price of the trading day prior to the spot market loading and unloading date.
The risk of risk-shifting gasoline is transferred from the seller to the buyer with the delivery of the goods.
2.04 Futures trading related to products
After the transaction is stopped on the last trading day of the contract until 14:00 on the first trading day of the delivery month, the buyer and the seller may conduct futures trading of the products related to this contract. The buyer of the contract must be a seller of a certain amount of gasoline or related products. The seller of the contract must be the buyer of gasoline or related products. The quantity of related products and the number of contracts should be roughly the same. The price difference caused by the difference in quality of related products is agreed by both parties.
The EFP's agreement report shall be reported to the Exchange on the day of the transaction and settled and delivered in accordance with the methods specified by the Exchange.
2.05 selective delivery
The buyer or seller of the contract may, in agreement with the other party to which the exchange is paired, settle the delivery method in a different manner, in which case the buyer and the seller jointly handle the agreed delivery notice in the format prescribed by the exchange, and The notice is sent to the Exchange on any day prior to 14:00 on a trading day prior to the twenty-fifth day of the delivery month. After this, the respective obligations and rights of the exchange are no longer responsible, but must be settled through the exchange. After receiving the notice, the exchange will return the buyer’s deposit to their respective accounts.
2.06 Default breach of contract means that the buyer and seller fail to fulfill their obligations in accordance with the contract.
The late performance refers to the failure of one party or both parties to perform their obligations in accordance with the date specified in this contract.
The total amount of the non-compliance portion is calculated as the number of non-performing parts multiplied by the closing price of the last trading day.
The responsible party for the late performance of the contract pays the fine to the exchange according to the following criteria.
The first day. The fine is 1% of the total amount of the unfulfilled part;
The second day. The fine is 2% of the total amount of the unfulfilled part;
The third day. The fine is 2% of the total amount of the unfulfilled part;
The fourth day. The fine is 2% of the total amount of the unfulfilled part;
The fifth day. The penalty is 3% of the total amount of the unfulfilled part.
The above penalty is calculated cumulatively. On the sixth day, it is deemed to be a breach of contract, and the responsible party must pay a 10% penalty. The specific implementation method shall be formulated and promulgated by the settlement and settlement committee.
The fine shall be paid within five days after the settlement and settlement committee confirms the liability for breach of contract. Those who fail to pay according to the regulations shall be deemed to be in violation of the regulations, and the ownership of the transaction shall be deducted from the deposit and shall be punished.
In addition to paying a fine to the exchange, the defaulting party shall continue to perform the contract without the consent of the other party and shall be liable for the direct loss caused to the other party due to the late performance of the contract.
Other breach of contract conditions and responsibilities shall be implemented in accordance with national laws and relevant departmental regulations.
If the parties are dissatisfied with the dispute or claim, they may apply to the Exchange Hearing Arbitration Commission for arbitration.
2.07 Force Majeure Force majeure refers to the unforeseen, inevitable and insurmountable accidents of non-contracted parties after the signing of the contract, such as wars, turmoil, floods, earthquakes, etc.
If the party concerned fails to perform due to force majeure, it shall promptly notify the other party of the reasons for failure to perform or fail to perform fully, and after obtaining the relevant authority's certificate, permit the extension of performance, partial performance or non-performance of the contract, and according to the situation. Responsible for breach of contract.
The party did not promptly notify the other party of the reasons for the failure to perform or could not fully perform the contract due to force majeure, resulting in the expansion of the other party’s losses and the legal responsibility for the expansion of the loss.
Unauthorized matters of force majeure shall be dealt with in accordance with the provisions of national laws.
According to the rules of the Shanghai Metal Exchange, buyers and sellers voluntarily sign this contract and fully implement the following terms:
I. Quality grade: The metal quality grades of copper, aluminum, lead, zinc, tin, nickel and pig iron listed and traded on the Shanghai Metal Exchange will be subject to the “National Standards”. If there is no national standard, it shall be implemented in accordance with the "Ministerial Standards".
Second, the quantity: the allowable range of this contract short-term technology is ±5% of the total amount.
3. Price: The price of this contract refers only to the transaction price of the warehouse at the designated place on the day of the exchange. The costs of warehouse loading, transportation, insurance, etc. incurred before the transaction were included.
4. Settlement and execution according to the trial rules of the exchange trading business.
V. Delivery and acceptance: Both buyers and sellers are inspected and delivered according to the contract of the transaction contract. When the seller delivers, the manufacturer's quality guarantee is attached.
6. Trading Margin: Both parties to the contract must pay a deposit of __ yuan to the exchange. After the execution of the contract, the deposit will be refunded to the parties.
7. Exchange fee: The transaction fee is charged at 1‰ of the transaction amount.
VIII. Dispute arbitration: The dispute between the buyer and the seller regarding the dispute within the contract shall be coordinated by the exchange and the coordination shall not be submitted to the exchange for arbitration.
9. Penalty for breach of contract: When a default occurs in a sale or purchase, the exchange acts as the performance guarantor of the transaction contract and has the right to execute the penalty according to the trial rules of the transaction business.
X. Contract Transfer: When this contract is transferred according to the rules of the Exchange, the transfer procedures shall be handled at the same time.
XI. Supplementary Provisions: This contract is in duplicate and shall be kept by the Exchange after being signed by the seller and the buyer.
1. Issuing the certificate: the delivery unit;
2. Arrival unit:
3. Delivery time: 19 years → 19 years
4. Mode of transportation:
5. Quality acceptance:
6. Exterior Assembly:
7. Cost burden:
8. Settlement method:
9. Margin: From the date of confirmation of the contract, the buyer and the seller must pay the basic deposit to the Market Settlement Department within five days.
Buyer pays: 0.00 yuan
Seller pays: 0.00 yuan 10. Handling fee: From the date of confirmation of the contract, the buyer and the seller must pay the handling fee to the Market Settlement Department within five days.
Buyer pays: 0.00 yuan
Seller pays: 0.00 yuan
11. Supplementary Provisions: 1 The contract shall become effective after being confirmed by the market. In case of any objection, the relevant provisions must be amended by mutual agreement and market approval.
2 During the period of validity of the contract, no party may modify or terminate the contract without the human irresistible factors. Otherwise, it will be handled in accordance with the relevant provisions of the Economic Contract Law.
3 If the delivery plan fails to deliver the goods as scheduled due to the railway transportation plan, the remaining part will be negotiated by the buyer and the seller to extend the performance of the contract.
4 When disputes or disputes arise between the two parties, the Bank shall implement the Regulations on the Administration of Grain and Oil Transportation, No. 62 of the Commercial Department of the Ministry of Commerce of the People's Republic of China, the Interim Rules for the Administration of China's Zhengzhou Grain Wholesale Market, the Implementation Rules and the Business Handling Regulations.
5 The seller and the buyer shall allow the contract to be transferred in accordance with the relevant provisions of this market.
6 This contract is in five copies, one for each buyer and seller, and three for the market.
7 When there are many contents of the station, the station, the delivery unit, and the receiving unit of this contract, an attached file description may be attached.
Buyer's market representative: ____ signature Market custodian: Signed seller's market representative: ____ signature Contract confirmation transaction host: ____ signature Date of signing:
Shanghai Metal Exchange
China. Shanghai __year__month__day
____ members have sold 25 tons of copper No. 1 in accordance with the following Article 3, the price is __ yuan per ton, delivery month __.
This contract is formulated in accordance with the "Interim Regulations on the Administration of Shanghai Metal Exchanges" and the "Shanghai Metal Exchange Trading Futures Trading Rules". You and the Shanghai Metal Exchange will sign as parties, and you accept all the obligations and provisions of this contract. And agree to fulfill the responsibility according to the following rules.
In order to ensure the strict performance of the contract, you must pay the initial deposit to the exchange at the time of the transaction. According to market changes, when price fluctuations are not conducive to your changes, you will be required to pay a margin call to cover the difference between the contract price and the settlement price. In the event of any failure of you to perform the above obligations, the ownership of the transaction will force the liquidation of all or part of the contract held by you to compensate for the losses caused by your breach of contract. When the Exchange takes the above actions, there is no responsibility or obligation to reduce or protect you from losses. If it is not enough to cover the loss, the ownership of the transaction will continue to be pursued by you.
Specific regulations for No. 1 copper
1. Quality: The grade of electrolytic copper No. 1 in this contract must comply with the national standard GB 467-82 and GB466-82. The content of copper + silver is not less than 99.95%, and the weight of each piece is between 30-150 kg.
All copper delivered must be the No. 1 copper registered and approved by the Shanghai Metal Exchange, and accompanied by the quality certificate of the manufacturer. See Appendix A for a list of registration numbers.
2. Settlement: The contract is settled according to the settlement rules in the Shanghai Metal Exchange Trading Futures Trading Rules.
3. Delivery: The first copper of this contract must be delivered to the exchange's approved warehouse on the delivery date according to the brand and delivery location selected by the seller. The number of designated warehouse standard stacks provided in the performance contract is issued in 25 tons or an integral multiple thereof. Goods of the same contract must be stored in the same warehouse and have the same grade and the same specifications. The delivered goods must be whole plates or cut sheets to achieve the purpose of palletization. The length and width of the cut sheets should not be less than one-half of the whole board. The bundled packaging does not exceed 2.5 tons per bundle. The standard stack is implemented in accordance with the implementation rules of the warehouse standard stack specified by the Shanghai Metal Exchange.
4. Allow the difference in pounds: 2 ‰.
5. Delivery month: The delivery of this contract shall be carried out on a monthly basis in the month of the transaction or any month after the transaction.
6. Minimum floating price: The minimum floating price per ton of copper in the contract is 10 yuan, or an integral multiple thereof.
7. Arbitration: If the dispute arising from this contract cannot be settled through negotiation, it shall be submitted to the Supervisory Committee of the Exchange for arbitration according to the "Regulations of the Shanghai Metal Exchange." The party requesting the arbitration shall file a written application and acknowledge that the written decision made by the board of supervisors is final.
8. Others: Matters not mentioned in this contract are handled in accordance with the Interim Provisions on the Administration of Shanghai Metal Exchange and the Shanghai Metal Exchange Trading Futures Trading Rules.
Nanjing Petroleum Exchange Light Diesel Standard Contract
1.01 Product Name: Light diesel oil
Definition: Hydrocarbon liquid fuel that has been refined or distilled by crude oil and used in high-speed diesel fuel with a full load of 1000-1500 Hz/min.
1.02 Futures Contract Requirements Month and Time: Delivered at the time specified by the exchange and in the specified month.
Unit of measure for trading: Calculated by hand, each "hand" is 100 tons.
Quality Standard.
Minimum change price: 2 yuan per ton or 200 yuan per transaction unit.
The price of the contract: FOB Nanjing Port.
Daily price limit: Execute according to the notice of the Risk Management Committee.
Limit on the number of contracts:
The cumulative total of the number of contracts in a month for any account owned or controlled by any member shall not exceed more than 50 net long or net short positions, and the cumulative total of all the monthly contract amounts shall not exceed 3,000 net longs or net shorts.
You must not have more than 100 speculative contracts or more than 400 hedging contracts in the last ten trading days.
The above quantitative restrictions are appropriately relaxed by the special permission of the Board of Directors or the Risk Management Committee.
Last trading day: The last business day of the month before the contract month is the last trading day.
Modification of the contract: The exchange may revise the contents of the contract as necessary.
1.03 delivery:
Delivery method: a.FOB off-shipment delivery b. transfer within the c. pipeline delivery d.FOB off-the-ship inspection seller will light diesel from the oil depot to cross the buyer's ship's chord, the shore cost above the flange And the risk is borne by the seller. The full cost and risk of the flange below the ship to the side of the ship shall be borne by the buyer.
Place of delivery: The delivery warehouse approved by the exchange.
Delivery principle: In addition to the implementation of the provisions of this contract, the laws, regulations and regulations of the state and relevant departments must be observed.
Agree to the receipt and delivery of the goods The buyer shall submit a notice of consent to the receipt of the goods to the Exchange before 14:00 on the first trading day of the contract delivery date, which shall include the following points for the exchange to match.
a. buyer unit name b. quantity c. intended delivery method d. intended delivery location The seller must submit a notice of consent to delivery to the exchange before 14:00 on the first trading day of the contract delivery month, including the following content:
a. Name of the seller's unit b. Quantity c. Proposed delivery method d Proposed delivery location e. Other information The cd item in the notice of the buyer and seller must be clearly filled out; otherwise, it is matched by the exchange. The buyer must be ended with the result of the match.
After receiving the notice from the buyer and seller, the exchange matching delivery transaction must notify the parties of the result of the pairing before 16:30 on the second trading day.
a. According to the proposed delivery method and location submitted by the buyer and seller, in accordance with the location and method of delivery that are both accessible and economically reasonable, minimize the delivery and delivery points, and refer to the current restrictions imposed by the relevant departments.
b. In the specific implementation, the following principles are used for matching, and the location and method are preferred. If the location and method are the same, the larger the number of contracts is preferred; when the quantity is the same, the time of delivery and delivery is Priority pairing principle.
c. After receiving the matching notice of settlement delivery, the buyer and seller may make consultations, changes and adjustments if there are different opinions, and report the changes and adjustments to the exchange before 12:00 on the third trading day. If the negotiation fails, it must be submitted to the Exchange before 12:00 on the third trading day, and the settlement and delivery committee decides that the ruling is final and both the buyer and the seller are bound.
d. Prior to this, the buyer and the seller reached an agreement on the location and time of delivery, and followed the following principles: i. The delivery time of the FOB from the warehouse is determined by the buyer. Ii. If the seller proposes to settle in a non-registered warehouse, the discount should be based on the buyer's advantage; if the buyer proposes to settle in the non-registered warehouse, the discount or premium should be beneficial to the seller. Iii. The time for transfer within the warehouse or for the delivery of the jurisdiction is agreed by the buyer and the seller.
e. In the settlement of unregistered warehouses, the premium or discount on the price shall be agreed by the buyer and the seller, or may be carried out in accordance with the principle of the notice of the settlement and delivery committee.
The Proposed Delivery Notice The seller must submit a complete notice to the buyer by 14:00 on the third trading day of the delivery month, which should include:
a. buyer unit name b. seller unit name c. delivery location d. delivery method e. quantity of delivery f. selection of inspection method g. delivery period range h. delivery of buyer's documents i. Other information confirms the delivery notice. The seller must submit to the buyer a confirmation delivery notice in the format specified by the exchange before the buyer’s vessel is expected to arrive in Hong Kong or before the date of the transfer agreement. The contents must be the same as the delivery notice. The content is consistent. If the inconsistency is deemed to be a default by the seller, the buyer must confirm it by 16:30 on the same day and will confirm the copy to the exchange.
After the delivery notice has been confirmed by both parties, the buyer shall submit to the seller in writing the estimated time of arrival of the vessel.
Both parties shall work on the confirmed delivery date and use the delivery date as the date for calculating the late performance and default.
shipment. In addition to the transfer within the warehouse, once the fuel pipe is connected, the loading begins, and once it is removed, it is the end of the shipment.
After the buyer arrives at the port on the delivery date, the buyer shall submit a preparation notice to the seller in writing and calculate the time for the seller to start loading. The previous vessel demurrage shall be the responsibility of the buyer, after which The delay caused by the end of the shipment is the responsibility of the seller.
After receiving the buyer's preparation notice, the seller shall arrange the loading in time and complete it within the prescribed time. Claims for demurrage do not affect the claim for loss.
Transfer of Payments and Documents a. The Exchange shall receive the purchase price of the seller or the buyer on the first two trading days of the date of the scheduled delivery date or the date of the transfer of the ownership agreement. The buyer shall pay the entire contract for the payment of the contract, after the payment has been received. The exchange immediately refunds the deposit to the buyer's account. b. The seller must submit all the required documents to the exchange within three days after the completion of the loading. The transaction will be submitted to the buyer before the second trading day of the receipt of the document by 16:30, and the buyer will confirm the delivery. After signing, the exchange will refund the purchase price and transaction margin of the entire contract to the seller's account.
Inspection: The following inspection methods are available for purchase and seller selection.
i. The discretionary registered warehouse shall be subject to quality inspection and quantity inspection, and the quantity shall be based on the measurement of the oil storage tank.
Ii. In order to avoid disputes, the buyer and seller may appoint an inspector to check with the delivery warehouse when necessary, and the quantity of delivery shall be subject to the common inspection number.
Iii. The buyer and seller may also entrust the State Commodity Inspection Department to inspect, and all results shall be subject to the commodity inspection certificate. The inspection fee shall be borne by the entrusting party.
The allowable error range for the quantity delivered and the total amount of the contract:
a. Allowable error of ±1% under 1000 tons
B.1001-10000 tons weight tolerance error ±3%
c. 10001 or more weight allowance error ± 5%
The amount of error within the above allowable range is settled at the contracted transaction price.
If the allowable error range is exceeded, the excess or shortage will be settled with reference to the closing price of the trading day prior to the spot market loading and unloading date.
The risk of risk transfer of light diesel is transferred from the seller to the buyer with the delivery of the goods.
1.04 Futures trading related to products
After the transaction is stopped on the last trading day of the contract until 14:00 on the first trading day of the delivery month, the buyer and the seller may conduct futures trading of the products related to this contract. The buyer of the contract must be a seller of a certain amount of light diesel oil or related products. The seller of the contract must be the buyer of light diesel oil or related products, the quantity of related products and the number of contracts should be approximately the same, and the price difference caused by the difference in quality of related products is agreed by both parties.
The EFP's agreement report shall be reported to the Exchange on the day of the transaction and settled and delivered in accordance with the methods specified by the Exchange.
1.05 selective delivery
The buyer or seller of the contract may, in agreement with the other party to which the exchange is paired, settle the delivery method in a different manner, in which case the buyer and the seller jointly handle the agreed delivery notice in the format prescribed by the exchange, and The notice is sent to the Exchange on any day prior to 14:00 on a trading day prior to the twenty-fifth day of the delivery month. After this, the exchange is no longer responsible for the respective obligations and rights of the buyer and seller, but must be settled through the exchange. After receiving the notice, the exchange will return the buyer’s deposit to their respective accounts.
1.06 Default breach of contract means that the buyer and seller fail to fulfill their obligations in accordance with the contract.
The late performance refers to the failure of one party or both parties to perform their obligations in accordance with the date specified in this contract.
The total amount of the non-compliance portion is calculated as the number of non-performing parts multiplied by the closing price of the last trading day.
The responsible party for the late performance of the contract pays the fine to the exchange according to the following criteria.
The first day. The penalty is 1% of the total amount of the non-performance part
The second day. The penalty is 2% of the total amount of the non-performance part
The third day. The penalty is 2% of the total amount of the non-performance part
The fourth day. The penalty is 2% of the total amount of the non-performance part
The fifth day. The penalty is 3% of the total amount of the non-performance part
The above penalty is calculated cumulatively. On the sixth day, it is deemed to be a breach of contract, and the responsible party must pay a 10% penalty. The specific implementation method shall be formulated and promulgated by the settlement and settlement committee.
The fine shall be paid within five days after the settlement and settlement committee confirms the liability for breach of contract. Those who fail to pay according to the regulations shall be deemed to be in violation of the regulations, and the ownership of the transaction shall be deducted from the deposit and shall be punished.
In addition to paying a fine to the exchange, the defaulting party shall continue to perform the contract without the consent of the other party and shall be liable for the direct loss caused to the other party due to the late performance of the contract.
Other breach of contract conditions and responsibilities shall be implemented in accordance with national laws and relevant departmental regulations.
If the parties are dissatisfied with the dispute or claim, they may apply to the Exchange Hearing Arbitration Commission for arbitration.
1.07 Force Majeure Force majeure refers to the unforeseen, inevitable, and insurmountable accidents, such as wars, turmoil, floods, earthquakes, etc., that are caused by the failure of any party other than the contract.
If one of the parties fails to perform due to force majeure, it shall promptly notify the other party of the reasons for failure to perform or fail to perform fully, and after obtaining the relevant authority's certificate, permit the extension of performance, partial performance or non-performance of the contract, and according to the situation. Or all exempt from liability for breach of contract.
The party did not promptly notify the other party of the reasons for the failure to perform or could not fully perform the contract due to force majeure, resulting in the expansion of the other party's losses, and the liability for the expansion of the loss.
Unauthorized matters of force majeure shall be dealt with in accordance with the provisions of national laws.
Nanjing Petroleum Exchange Petrol Standard Contract
2.01 Product Name: Gasoline
Definition: A mixture of crude oil obtained by straight-running or straight-running and secondary processing, a mixture of a suitable antiknock agent and an anti-oxidation anti-adhesive agent for liquid fuels for ignited engines.
2.02 Futures Contract Requirements Month and Time: Delivered at the time specified by the exchange and in the designated month.
Unit of measure for trading: Calculated by hand, each "hand" is 100 tons.
Quality Standard
Minimum change price: 2 yuan per ton or 200 yuan per transaction unit.
The price of the contract: FOB Nanjing Port.
Daily price limit: Execute according to the notice of the Risk Management Committee.
Limit on the number of contracts:
The cumulative total of the number of contracts in a month for any account owned or controlled by any member shall not exceed more than 50 net long or net short positions, and the cumulative total of all the monthly contract amounts shall not exceed 2,000 net long or net short positions.
You must not have more than 100 speculative contracts or more than 200 hedging contracts in the last ten trading days.
The above quantitative restrictions are appropriately relaxed by the special permission of the Board of Directors or the Risk Management Committee.
Last trading day: The last business day of the month before the contract month is the last trading day.
Modification of the contract: The exchange may revise the contents of the contract as necessary.
2.03 delivery:
Delivery method: a.FOB off-shipment delivery b. Transfer within the c.FOB railway loading d. Pipeline delivery seller will pass gasoline from the oil depot to the ship's chord of the buyer's vessel, the shore charges and risks above the flange It is borne by the seller. The full cost and risk of the flange below the ship to the side of the ship shall be borne by the buyer.
Place of delivery: The delivery warehouse approved by the exchange.
Delivery principle: In addition to the implementation of the provisions of this contract, the laws, regulations and regulations of the state and relevant departments must be observed.
Agree to the receipt and delivery of the goods The buyer shall submit a notice of consent to the receipt of the goods to the Exchange before 14:00 on the first trading day of the contract delivery date, which shall include the following points for the exchange to match.
a. buyer unit name b. quantity c. intended delivery method d. intended delivery location The seller must submit a notice of consent to delivery to the exchange before 14:00 on the first trading day of the contract delivery month, including the following content:
a. Name of the seller's unit b. Quantity c. Proposed delivery method d. Proposed delivery location e. Other information The cd item in the notice of the buyer and seller must be clearly filled out; otherwise, it is matched by the exchange. The buyer must be bound by the results of his collocation.
After receiving the notice from the buyer and seller, the exchange matching delivery transaction must notify the parties of the result of the pairing before 16:30 on the second trading day.
a. According to the proposed delivery method and location submitted by the buyer and seller, in accordance with the location and method of delivery that are both accessible and economically reasonable, minimize the delivery and delivery points, and refer to the current restrictions imposed by the relevant departments.
b. In the specific implementation, the following principles are used for matching, and the location and method are preferred. If the location and method are the same, the larger the number of contracts is preferred; when the quantity is the same, the time of delivery and delivery is Priority pairing principle.
c. After receiving the matching notice of settlement delivery, the buyer and seller may make consultations, changes and adjustments if there are different opinions, and report the changes and adjustments to the exchange before 12:00 on the third trading day. If the negotiation fails, it must be submitted to the Exchange before 12:00 on the third trading day, and the settlement of the settlement committee shall be submitted. The ruling is final and both the buyer and the seller are bound.
d. Prior to this, the buyer and the seller agreed on the delivery location and time, and followed the following principles: i.FOB delivery time from the warehouse is determined by the buyer. Ii. If the seller proposes to settle in a non-registered warehouse, the discount should be based on the buyer's advantage; if the buyer proposes to settle in the non-registered warehouse, the discount or premium should be beneficial to the seller. Iii. The time of transfer or jurisdictional delivery within the warehouse is agreed by the buyer and the seller.
e. In the settlement of unregistered warehouses, the premium or discount on the price shall be agreed by the buyer and the seller, or may be carried out in accordance with the principle of the notice of the settlement and delivery committee.
The Proposed Delivery Notice The seller must submit a complete notice to the buyer by 14:00 on the third trading day of the delivery month, which should include:
a. buyer unit name b. seller unit name c. delivery location d. delivery method e. quantity of delivery f. selection of inspection method g. delivery period range h. delivery of buyer's documents i. Other information confirms the delivery notice. The seller must submit to the buyer a confirmation delivery notice in the format specified by the exchange before the buyer’s vessel is expected to arrive in Hong Kong or before the date of the transfer agreement. The contents must be the same as the delivery notice. The content is consistent. If the inconsistency is deemed to be a default by the seller, the buyer must confirm it by 16:30 on the same day and will confirm the copy to the exchange.
After the delivery notice has been confirmed by both parties, the buyer shall submit to the seller in writing the estimated time of arrival of the vessel.
Both parties shall work on the confirmed delivery date and use the delivery date as the date for calculating the late performance and default.
shipment. In addition to the transfer within the warehouse, once the fuel pipe is connected, the loading begins, and once it is removed, it is the end of the shipment.
After the buyer arrives at the port on the delivery date, the buyer shall submit a preparation notice to the seller in writing and calculate the time for the seller to start loading. The previous vessel demurrage shall be the responsibility of the buyer, after which The demurrage at the end of the shipment is the responsibility of the seller.
After receiving the buyer's preparation notice, the seller shall arrange the loading and proceed within the specified time. Claims for demurrage do not affect the claim for loss.
Transfer of Payments and Documents a. The Exchange shall receive the purchase price of the seller or the buyer or the first two trading days of the date of the transfer of the ownership. The buyer shall pay the entire contract for the payment of the contract, and the transaction shall be executed after the payment is received. The deposit is immediately refunded to the buyer’s account. b. The seller must submit all the required documents to the exchange within three days after the loading is completed. The Exchange will submit the buyer to the buyer by 16:30 on the second trading day of the receipt of the document. After the buyer signs the confirmation of delivery, the exchange will return the purchase price and the transaction deposit of the entire contract to the seller's account.
Inspection: The following inspection methods are available for purchase and seller selection.
i. The discretionary registered warehouse shall be subject to quality inspection and quantity inspection, and the quantity shall be based on the measurement of the oil storage tank.
Ii. In order to avoid disputes, the buyer and seller may appoint an inspector to check with the delivery warehouse when necessary, and the quantity of delivery shall be subject to the common inspection number.
Iii. The buyer and seller may also entrust the State Commodity Inspection Department to inspect, and all results shall be subject to the commodity inspection certificate. The inspection fee shall be borne by the entrusting party.
The allowable error range for the quantity delivered and the total amount of the contract:
a. The allowable error of weight below 1000 tons is ±1%;
b. 1001-10000 tons weight tolerance ± 3%;
c. The allowable error of more than 10001 tons is ±5%.
The amount of error within the above allowable range is settled at the contracted transaction price.
If the allowable error range is exceeded, the excess or shortage will be settled with reference to the closing price of the trading day prior to the spot market loading and unloading date.
The risk of risk-shifting gasoline is transferred from the seller to the buyer with the delivery of the goods.
2.04 Futures trading related to products
After the transaction is stopped on the last trading day of the contract until 14:00 on the first trading day of the delivery month, the buyer and the seller may conduct futures trading of the products related to this contract. The buyer of the contract must be a seller of a certain amount of gasoline or related products. The seller of the contract must be the buyer of gasoline or related products. The quantity of related products and the number of contracts should be roughly the same. The price difference caused by the difference in quality of related products is agreed by both parties.
The EFP's agreement report shall be reported to the Exchange on the day of the transaction and settled and delivered in accordance with the methods specified by the Exchange.
2.05 selective delivery
The buyer or seller of the contract may, in agreement with the other party to which the exchange is paired, settle the delivery method in a different manner, in which case the buyer and the seller jointly handle the agreed delivery notice in the format prescribed by the exchange, and The notice is sent to the Exchange on any day prior to 14:00 on a trading day prior to the twenty-fifth day of the delivery month. After this, the respective obligations and rights of the exchange are no longer responsible, but must be settled through the exchange. After receiving the notice, the exchange will return the buyer’s deposit to their respective accounts.
2.06 Default breach of contract means that the buyer and seller fail to fulfill their obligations in accordance with the contract.
The late performance refers to the failure of one party or both parties to perform their obligations in accordance with the date specified in this contract.
The total amount of the non-compliance portion is calculated as the number of non-performing parts multiplied by the closing price of the last trading day.
The responsible party for the late performance of the contract pays the fine to the exchange according to the following criteria.
The first day. The fine is 1% of the total amount of the unfulfilled part;
The second day. The fine is 2% of the total amount of the unfulfilled part;
The third day. The fine is 2% of the total amount of the unfulfilled part;
The fourth day. The fine is 2% of the total amount of the unfulfilled part;
The fifth day. The penalty is 3% of the total amount of the unfulfilled part.
The above penalty is calculated cumulatively. On the sixth day, it is deemed to be a breach of contract, and the responsible party must pay a 10% penalty. The specific implementation method shall be formulated and promulgated by the settlement and settlement committee.
The fine shall be paid within five days after the settlement and settlement committee confirms the liability for breach of contract. Those who fail to pay according to the regulations shall be deemed to be in violation of the regulations, and the ownership of the transaction shall be deducted from the deposit and shall be punished.
In addition to paying a fine to the exchange, the defaulting party shall continue to perform the contract without the consent of the other party and shall be liable for the direct loss caused to the other party due to the late performance of the contract.
Other breach of contract conditions and responsibilities shall be implemented in accordance with national laws and relevant departmental regulations.
If the parties are dissatisfied with the dispute or claim, they may apply to the Exchange Hearing Arbitration Commission for arbitration.
2.07 Force Majeure Force majeure refers to the unforeseen, inevitable and insurmountable accidents of non-contracted parties after the signing of the contract, such as wars, turmoil, floods, earthquakes, etc.
If the party concerned fails to perform due to force majeure, it shall promptly notify the other party of the reasons for failure to perform or fail to perform fully, and after obtaining the relevant authority's certificate, permit the extension of performance, partial performance or non-performance of the contract, and according to the situation. Responsible for breach of contract.
The party did not promptly notify the other party of the reasons for the failure to perform or could not fully perform the contract due to force majeure, resulting in the expansion of the other party’s losses and the legal responsibility for the expansion of the loss.
Unauthorized matters of force majeure shall be dealt with in accordance with the provisions of national laws.
According to the rules of the Shanghai Metal Exchange, buyers and sellers voluntarily sign this contract and fully implement the following terms:
I. Quality grade: The metal quality grades of copper, aluminum, lead, zinc, tin, nickel and pig iron listed and traded on the Shanghai Metal Exchange will be subject to the “National Standards”. If there is no national standard, it shall be implemented in accordance with the "Ministerial Standards".
Second, the quantity: the allowable range of this contract short-term technology is ±5% of the total amount.
3. Price: The price of this contract refers only to the transaction price of the warehouse at the designated place on the day of the exchange. The costs of warehouse loading, transportation, insurance, etc. incurred before the transaction were included.
4. Settlement and execution according to the trial rules of the exchange trading business.
V. Delivery and acceptance: Both buyers and sellers are inspected and delivered according to the contract of the transaction contract. When the seller delivers, the manufacturer's quality guarantee is attached.
6. Trading Margin: Both parties to the contract must pay a deposit of __ yuan to the exchange. After the execution of the contract, the deposit will be refunded to the parties.
7. Exchange fee: The transaction fee is charged at 1‰ of the transaction amount.
VIII. Dispute arbitration: The dispute between the buyer and the seller regarding the dispute within the contract shall be coordinated by the exchange and the coordination shall not be submitted to the exchange for arbitration.
9. Penalty for breach of contract: When a default occurs in a sale or purchase, the exchange acts as the performance guarantor of the transaction contract and has the right to execute the penalty according to the trial rules of the transaction business.
X. Contract Transfer: When this contract is transferred according to the rules of the Exchange, the transfer procedures shall be handled at the same time.
XI. Supplementary Provisions: This contract is in duplicate and shall be kept by the Exchange after being signed by the seller and the buyer.
1. Issuing the certificate: the delivery unit;
2. Arrival unit:
3. Delivery time: 19 years → 19 years
4. Mode of transportation:
5. Quality acceptance:
6. Exterior Assembly:
7. Cost burden:
8. Settlement method:
9. Margin: From the date of confirmation of the contract, the buyer and the seller must pay the basic deposit to the Market Settlement Department within five days.
Buyer pays: 0.00 yuan
Seller pays: 0.00 yuan 10. Handling fee: From the date of confirmation of the contract, the buyer and the seller must pay the handling fee to the Market Settlement Department within five days.
Buyer pays: 0.00 yuan
Seller pays: 0.00 yuan
11. Supplementary Provisions: 1 The contract shall become effective after being confirmed by the market. In case of any objection, the relevant provisions must be amended by mutual agreement and market approval.
2 During the period of validity of the contract, no party may modify or terminate the contract without the human irresistible factors. Otherwise, it will be handled in accordance with the relevant provisions of the Economic Contract Law.
3 If the delivery plan fails to deliver the goods as scheduled due to the railway transportation plan, the remaining part will be negotiated by the buyer and the seller to extend the performance of the contract.
4 When disputes or disputes arise between the two parties, the Bank shall implement the Regulations on the Administration of Grain and Oil Transportation, No. 62 of the Commercial Department of the Ministry of Commerce of the People's Republic of China, the Interim Rules for the Administration of China's Zhengzhou Grain Wholesale Market, the Implementation Rules and the Business Handling Regulations.
5 The seller and the buyer shall allow the contract to be transferred in accordance with the relevant provisions of this market.
6 This contract is in five copies, one for each buyer and seller, and three for the market.
7 When there are many contents of the station, the station, the delivery unit, and the receiving unit of this contract, an attached file description may be attached.
Buyer's market representative: ____ signature Market custodian: Signed seller's market representative: ____ signature Contract confirmation transaction host: ____ signature Date of signing:
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