TraDaToR
Registered: Dec 2006
Posts: 3784 |
09-08-11 11:11 PM
I don't know what I am smoking lately( nothing which is even scarier)...LOL. Forget about the 7.37$.
"713.D. Sellers' Invoices to Buyers
Upon receipt of the names of the buyers obligated to accept delivery from him and a description of each commodity tendered by him which was assigned by the Clearing House to each such buyer, the seller shall prepare invoices addressed to its assigned buyers describing the commodity to be delivered to each such buyer and, if applicable, the delivery location. Such invoices shall show the amount which buyers must pay to sellers in settlement of the actual deliveries, based on the delivery prices established by the Clearing House for that purpose, adjusted for applicable premiums, discounts, storage charges, premium charges, premium for FOB conveyance, quantity variations and other items for which provision is made in these Rules relating to contracts. The responsibility for storage charges shall remain the obligation of the seller until such time as the delivery instrument is presented to the buyer and payment is made in conformity with the rules concerning payment. Such invoices shall be in the form designated by the Exchange.
Such invoices shall be delivered to the Clearing House by 10:00 a.m. for those commodities utilizing the electronic delivery system via the Clearing House’s on-line system, or 4:00 p.m. for other commodities on notice day. However, on the last notice day in the delivery month when a que intent for commodities that do not use the electronic delivery system has been delivered to the Clearing House, invoices for said delivery may be delivered to the Clearing House until 10:00 a.m. on the last delivery day of the delivery month.
Upon receipt of such invoices, the Clearing House shall promptly make them available to buyers to whom they are addressed.
Financial instruments futures contracts will follow the invoicing procedures that are prescribed in the respective contract's invoicing regulation."
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