Whole Section

  • 6.10 Post Arbitral Award Procedures

    • 6.10.1

      Where any dispute in connection with a deliverable commodity futures contract is settled by such claim procedure set forth or referred to in the relevant Contract Specifications, the Clearing Member shall follow such post arbitral award procedures as set forth in the relevant Contract Specifications.

      Added on 1 October 20091 October 2009.

    • 6.10.3

      If an arbitral award is made in favour of the Buying Member, the Buying Member shall be entitled to:

      6.10.3.1 claim the Performance Deposit posted in relation to the delivery contract by the Selling Member with the Clearing House to the extent that it satisfies the arbitral award; and
      6.10.3.2 the return of the Performance Deposit posted by it in relation to the delivery contract with the Clearing House, without any deduction or set-off.

      Added on 22 September 200622 September 2006 and amended on 1 October 20091 October 2009.

    • 6.10.4

      If the Performance Deposit posted by the Selling Member in relation to the delivery contract is insufficient to satisfy the arbitral award made in favour of the Buying Member, the Buying Member shall be entitled to pursue the balance of such arbitral award against the Selling Member. If such Performance Deposit is greater than the arbitral award made in favour of the Buying Member, the balance of the Performance Deposit shall be returned to the Selling Member.

      Added on 22 September 200622 September 2006 and amended on 1 October 20091 October 2009.

    • 6.10.5

      Where the arbitral award is made in favour of the Selling Member, Rules 6.10.4 and 6.10.5 shall apply with the references to "Buying Member" and "Selling Member" being changed to "Selling Member" and "Buying Member" respectively.

      Amended on 1 October 20091 October 2009.

    • 6.10.6

      For the avoidance of doubt, the above procedures do not apply if the Clearing Members have agreed to effect delivery via an Alternative Delivery Procedure.

      Amended on 1 October 20091 October 2009.