6.02A.13 Clearing House does not Verify Authenticity of Documents or Check Commodity

The Clearing House shall have no responsibility or liability to any person:

6.02A.13.1 to investigate, verify or guarantee the authenticity, validity, accuracy, or completeness of:—
(a) any form or document required by it for the required matching of:
(i) the relevant parties in accordance with the Contract Specifications; or
(ii) a Seller or Buyer for whom an insolvent clearing member acts and the counterparty clearing member; or
(b) any Title Documents received by the Clearing House under the relevant Contract Specifications,
to effect delivery as between such matched parties as are consistent with the relevant Delivery Rules. Nonetheless, the Clearing House reserves the right at its discretion and in good faith to reject any form or accompanying documents submitted by a Clearing Member for such matching, delivery or any other purposes if in its good faith view, the form or accompanying documents (or, where relevant, payment) as submitted are not in compliance with its stated requirements or otherwise indicate that the delivery to be effected or accepted are not in compliance with the relevant Delivery Rules;
6.02A.13.2 to check any Commodity received from or delivered to the clearing member of a Buyer or Seller in relation to the quality or suitability of fitness of the Commodity and the obligation of the Seller or Buyer, or its clearing member, to make or take delivery under a delivery contract; and
6.02A.13.3 with respect to any forged or irregular documents, including Title Documents, relating to any open contract and delivery contract, received from or delivered to the clearing member of a Buyer or Seller. The sole recourse of the Clearing Member receiving such forged or irregular documents shall be to the clearing member which delivered or caused to be delivered such forged or irregular documents.

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