Foreign Exchange Administration Declaration Sample Clauses

Foreign Exchange Administration Declaration. You acknowledge that all Transactions executed with via the Evolve Services and Evolve System shall comply with all applicable M alaysian foreign exchange administration rules administered by the Central Bank of Malaysia, Bank Negara Malaysia from time to time including without limitation, the requirement that all forward contracts entered into must be based on firm underlying trade commitments or anticipatory ▇▇▇▇▇▇. The specific purpose for such transactions will be agreed and informed to HSBC. You represent and warrant to HSBC that all deals done via the Evolve Services and Evolve System are not for any speculative o r leveraged purpose whatsoever and that it will not enter into any other transaction which would or may have the effect of rendering the sa id transactions anything other than hedging transactions. If you engage in forward deals on the Evolve System: (i) for trades with firm underlying commitments, you are to provide documentary evidence (such as letter of credit, invoices, confirmation of shipment, bill of lading/air -way bill, purchase/sales contract or such other documents as may be determined by HSBC) showing firm commitment for the forward purchases/sales of foreign currency whenever required by HSBC. (ii) for anticipatory ▇▇▇▇▇▇, you are to provide documentary evidence such as letter of intent, financing agreements or such other documents required by HSBC. If you are unable to provide such documentary evidence within a reasonable time of a request for such documentary evidence having been made by HSBC, HSBC reserves the right to cancel the forward contract and charge mark -to-market losses (if any) to you.