Whole Section

  • 6.09 Alternative Delivery Procedure

    • 6.09.1

      Unless otherwise provided by the relevant Contract Specifications, nothing in this Rules shall prevent the parties otherwise obliged to make and take delivery from effecting delivery via Alternative Delivery Procedure.

      Added on 22 September 200622 September 2006.

    • 6.09.2

      Upon the delivery of a notice of Alternative Delivery Procedure to the Clearing House (the "ADP Notice"), the Seller and Buyer or such persons designated to make or take delivery as may be prescribed in the ADP Notice shall be solely responsible for completing delivery.

      Added on 22 September 200622 September 2006.

    • 6.09.4

      In executing such Alternative Delivery Procedure, the Seller and/or Buyer, for whom a Clearing Member acts, or such persons designated to respectively make and/or take delivery in place of such Clearing Member as may be prescribed in the ADP Notice shall indemnify the Clearing House and the Exchange against any liability, costs or expense it may incur for any reason as a result of the execution, delivery or performance of any agreement reached between the Seller and Buyer or such persons designated to respectively make and take delivery as may be prescribed in the ADP Notice, or any breach thereof or default thereunder.

      For the avoidance of doubt, where the clearing members of the Relevant Market making or taking delivery prior to the execution of an Alternative Delivery Procedure are both Clearing Members, the Buyer and Seller or such persons designated to make and take delivery in place of the Clearing Members as may be prescribed in the ADP Notice shall jointly and severally indemnify the Clearing House and/or the Exchange.

      Added on 22 September 200622 September 2006 and amended on 26 January 200726 January 2007 and 1 October 20091 October 2009.