Alternative Confirmation Procedures Clause Samples
The Alternative Confirmation Procedures clause establishes a method for verifying or confirming information, actions, or transactions through means other than the standard or originally agreed-upon process. For example, if a contract typically requires written confirmation for an order, this clause might allow for confirmation via email, phone call, or another mutually agreed method in certain circumstances. Its core practical function is to provide flexibility and ensure that necessary confirmations can still occur even if the usual procedure is unavailable or impractical, thereby reducing delays and maintaining the continuity of operations.
Alternative Confirmation Procedures. Nothing in this Annex J shall be construed as requiring Participant to use the ICE eConfirm Service to confirm all Trades executed under a Covered Master Agreement. Where the ICE eConfirm Service does not generate a Controlling Confirmation with respect to a Trade or is not used to confirm a Trade for any reason, Participant and a Counterparty may confirm such Trade pursuant to any other mutually agreed upon confirmation procedure, either as specified in the relevant Covered Master Agreement or otherwise.
Alternative Confirmation Procedures. Nothing in this Annex J shall be construed as requiring Participant to use the ICE eConfirm Service to confirm all Trades executed under a Covered Master Agreement. Where the ICE eConfirm Service does not generate a Controlling Confirmation with respect to a Trade or is not used to confirm a Trade for any reason, Participant and a Counterparty may confirm such Trade pursuant to any other mutually agreed upon confirmation procedure, either as specified in the relevant Covered Master Agreement or otherwise. Formatted: Indent: Hanging: 0.5", Space Before: 5.9 pt, Line spacing: Exactly 11.15 Tab stops: 6.35", Right