Common use of GUARANTEE DEPOSIT Clause in Contracts

GUARANTEE DEPOSIT. 2.1. The guarantee deposit constitutes the cash and financial instruments in the accounts of the Client at BenchMark Finance. The guarantee deposit serves to cover the risk of potential losses from currency and price differences realised as a result of transactions concluded at the expense of the Client. The Client can conclude transactions if the balance in the account at BenchMark Finance is enough to maintain the already opened positions (if there are any) and for new positions which the Client wishes to create. 2.2. BenchMark Finance has the right to close one or all open positions of the Client at its own discretion and without prior notice if a danger of negative balance on one or more accounts of the Client arises or has already happened. If the Client has one than more accounts at BenchMark Finance and has realized a negative balance on one of them, then BenchMark Finance has the right to use all cash and/or financial instruments available on the other accounts of the Client at its own discretion and respectively engage in any management acts and/or disposal of such acts in order to limit the amount of the realised by the Client losses. 2.3. Where the amount available on the account decreases to an amount indicated on the website by relevant margin for maintaining open positions, the Client should immediately pay in the amount to cover for his cash shortage. The Client is obliged to follow his positions and relevant margin and engage in acts for placing cash. 2.4. If there is a continued reduction of the available amount on the account to an amount indicated on the website by relevant margin for maintaining open positions, BenchMark Finance has the right to engage in acts to close wholly or partially and without prior notice the open positions of the Client. 2.5. The general margin requirements of BenchMark Finance for the different types of transactions are indicated on the website. BenchMark Finance reserves its right to determine specific margin obligations of the transactions concerned.