DVP Rules [Entire Rulebook has been deleted]
Rule 2 — Applications for Participation and Participation Criteria
2.3 Payment and Settlement Facility Requirements of Principals
The payment facility requirements of Principals are that:
(a) the Principal has appointed a Settlement Bank who will be its agent for the purposes of making and receiving payments in DVP Settlement; and
(b) the Principal furnishes a duly executed Letter of Guarantee and Indemnity from the Settlement Bank to CDP in the form as set out in Annex AAnnex A that the Settlement Bank will guarantee the payment of and indemnify CDP against the non-payment of the Net Debit Balance of the Principal on any Settlement Day in accordance with these DVP Rules.
Refer to Annex A — Letter of Guarantee and Indemnity from Settlement Bank.
Amended on 3 October 20093 October 2009.