BULLION Sample Clauses
The BULLION clause defines the terms and conditions related to the handling, delivery, and ownership of precious metals such as gold or silver in a contract. Typically, it specifies how bullion is to be measured, delivered, and valued, and may address issues like purity standards, storage, and transfer of title. This clause ensures that both parties have a clear understanding of their rights and obligations regarding bullion, thereby reducing the risk of disputes over quality, quantity, or delivery logistics.
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BULLION none, being only entitled to the payments set forth above in Paragraph 4;
BULLION. All bullion transactions are final unless the purchased bullion item is proven to be false by a competent authority accepted as such by both Advantage and Client.
BULLION. 3.1 In respect of every Transaction made between us we shall act as principal with you.
3.2 Transactions in Bullion involve you taking a position with regard to what you consider the price of a Bullion will be in the future. A list of some examples of the Bullion prices that we offer is at our website ▇▇▇.▇▇▇▇▇▇▇▇▇▇▇▇▇▇▇.▇▇▇ expressed in US Dollars per ounce. Fluctuations in the value of the US Dollar can therefore affect the price of the Bullion and any proift or loss that you may make.
BULLION. Counterparty shall, at all times,
(a) maintain Bullion in its Inventory so that:
(i) the gold in its Inventory which is tracked by weight in the Counterparty’s records, including in the Counterparty’s perpetual inventory system, is equal to or greater than the sum of gold Consigned to the Counterparty by BMO and HSBC, plus customer toll-in gold;
(ii) the silver in its Inventory which is tracked by weight in the Counterparty’s records, including in the Counterparty’s perpetual inventory system, is equal to or greater than the sum of silver consigned to the Counterparty by BMO and HSBC, plus customer toll-in silver;
(iii) the Platinum in its Inventory which is tracked by weight in the Counterparty’s records, including in the Counterparty’s perpetual inventory system, is equal to or greater than the sum of Platinum consigned to the Counterparty by BMO and HSBC, plus customer toll-in Platinum;
(iv) the palladium in its Inventory which is tracked by weight in the Counterparty’s records, including in the Counterparty’s perpetual inventory system, is equal to or greater than the sum of palladium consigned to the Counterparty by BMO and HSBC, plus customer toll-in palladium;
(b) maintain at least ninety percent (90%) of all Consigned Bullion and all HSBC Consigned Bullion at an Approved On-Premises Location.
BULLION. Human corpses, human organs or body parts, human and animal embryos, or cremated or disinterred human remains.
BULLION. 3.1 In respect of every Transaction made between us we shall act as principal with you.
3.2 Transactions in Bullion involve you taking a position with regard to what you consider the price of a Bullion will be in the future. A list of some examples of the Bullion prices that we offer is at our website ▇▇▇.▇▇▇▇▇▇▇▇▇▇▇.▇▇▇.
3.3 The prices that we quote for Bullion are normally labelled as the “Bid Price” and the “Offer Price”. The prices are expressed in US Dollars per ounce. Fluctuations in the value of the US Dollar can therefore affect the price of the Bullion and any profit or loss that you may make.
3.4 The Bid Price is the price that we will pay you for the position in the Bullion. The Offer Price is the price you will pay us for the position in the Bullion. The Bid Price will always be less than the Offer Price. The difference between the Bid and the Offer price is known as the “Spread”. We make a profit from the spread. In general, the wider the Spread the greater our profit.
3.5 You can take a view on the price of the Bullion increasing by “Going Long” or you can take a view on the price of the Bullion decreasing by “Going Short”. For example, if you consider that the price of the Bullion will increase you will decide to take a
3.6 If you were Going Long, the opening price of the Bullion would be fixed at our Offer Price. If our Bid Price at the end of the contract is greater than our Offer Price at the commencement of the contract then, subject to the deduction of applicable charges, you will receive a sum calculated by multiplying the number of units of the Bullion by the difference between the opening Offer Price and the closing Bid Price of the Bullion. However, if the Bid Price for the Bullion at the end of the contract does not exceed the Offer Price for the Bullion at the commencement of the contract you will be required to pay us a sum calculated by multiplying the number of units of the Bullion by the difference between the opening Offer Price and the closing Bid Price of the Bullion. Regardless of how the price of the Bullion moves you will also be required to pay us applicable interest charges, ticket charges (which you will be notified about separately), and ▇▇▇/Next financing charges (see section 8).
3.7 If, however you were Going Short, the opening price of the Bullion would be fixed at our Bid Price. If the Offer Price of the Bullion at the end of the contract is less than the Bid Price at the commencement of the contract then, subjec...