Cancellation and modification of Orders Sample Clauses
The "Cancellation and Modification of Orders" clause defines the terms under which a party may change or cancel an order after it has been placed. Typically, this clause outlines the procedures for requesting changes, any time limits for making such requests, and whether fees or penalties may apply. For example, it may specify that cancellations are only allowed before shipment or that modifications require written approval. The core function of this clause is to provide clear guidelines for altering or withdrawing orders, thereby reducing disputes and ensuring both parties understand their rights and obligations regarding order changes.
Cancellation and modification of Orders. 1. Orders may be modified or cancelled by Olympus at any time prior to the Service Date provided that Olympus will be liable for the Supplier’s reasonable costs associated with any work in progress. Olympus may cancel any order for Services where the Supplier has failed to provide the Services in whole or part by the Service Date.
Cancellation and modification of Orders. 3.1 Member acknowledges and agrees that all cancellations and modifications of orders that have been routed shall be in accordance with UMIR and the rules of the Applicable Market to which the orders were routed.
3.2 Member acknowledges that orders routed away from an Applicable Market may execute after Nasdaq Canada has received notification of the cancellation or modification of the original order.
3.3 Member acknowledges and agrees that Nasdaq Canada may be unable to cancel or modify orders routed away from an Applicable Market due to technical reasons or other issues beyond Nasdaq Canada’s control at the destination marketplace and that Nasdaq Canada does not take responsibility for such orders or any errors or losses resulting, even if Nasdaq Canada could have prevented such error or loss.
Cancellation and modification of Orders. The purchase or sale orders of the clients may be cancelled so long as the transactions had not been carried out in the electronic systems of the Stock Exchanges, if the transaction had been partially completed, the cancellation of the remainder may be requested. In order to request a cancellation, the client shall communicate with its Authorized Representative who shall enter the instruction of the client in the system, being registered at the same occasion the information of the cancelled order as well as the order replacing it with the new folio, date and time client type and instruction type. Any unexecuted order shall be canceled after the end of the auction session of the stock exchange in question, observing the following:
a. In case of orders valid for one day, the same day when the order was instructed
b. In the case of orders valid for more than one day, daily and until the last business day of the order. Any request for modification to an order will cause the cancellation of the original one and the incorporation of the new one, with a new folio number that shall occupy the corresponding place, pursuant to the consecutive folios, except for a decrease in volume and consequently the corresponding priority shall be respected. Upon modification of an order registered in the Reception System for Orders and Appointment of Transactions by instruction of the client, it shall lose its original consecutive folio and the corresponding one shall be assigned pursuant to the consecutive folios.
Cancellation and modification of Orders. The Buyer’s cancellation or