Metal delivery Clause Samples

Metal delivery. 2.1.1 When receiving Underlying Metal for placing on Warrant, the Warehouse need not undertake an assay of the Underlying Metal itself but must carefully undertake a visual inspection of the Underlying Metal and all supporting documentation and, if the Underlying Metal or the supporting documentation is in any way patently sub-standard or anomalous the Warehouse must not issue a Warrant or Immobilised Warrant until any such shortcoming has been remedied. Without limitation to the foregoing, Underlying Metal will be deemed to be patently sub-standard if: (i) there is broken or visibly corroded strapping which could make the bundle of metal unsafe to handle; (ii) there is visible contamination of metal; (iii) there is inconsistent branding of metal (for instance, where all of the metal or some of the metal is patently not an LME brand or where different LME brands have been visibly mixed within a bundle); or (iv) the supporting documentation and paperwork does not accord with the Rules. For the avoidance of doubt, a Warehouse is not required to break bundles or inspect metal ingots hidden from view within bundles, unless there are visible signs indicating or suggesting a defect in quality within a bundle or the Warehouse is in any way aware that there is a defect within a bundle not apparent from a visual inspection. 2.1.2 All Underlying Metal delivered for placing on Warrant must be weighed by Warehouse personnel on equipment which is regularly tested for accuracy in accordance with Clause 7.4.3, and must conform to the relevant weights for those metals as outlined in the Special Contract Rules for Metals.