Payment of the trade. The Customer pays the purchase price of the bonds the Customer has purchased, including the secondary market compensation and added with any asset transfer tax to be charged on the trade, on the settlement date. The payment must be at the bank's disposal by the time of payment in accordance with the market rules, or a time agreed separately. The Customer is liable for any loss caused to the bank by a delay in payment. The Customer authorises the bank to debit to the account with the bank indicated by the Customer the purchase price of the bonds and any other charges based on the trade on the settlement date. The Customer ensures that the account has sufficient funds at any given time for debiting the transaction and the bank's receivables. The Customer is liable to pay default interest on the delayed amount in accordance with the provisions of the Interest Act. The bank is liable to ensure that the purchase price of the bonds the Customer has sold to the bank, including the secondary market compensation, if any, and deducted with any withholding tax or asset transfer tax charged on the trade, is paid to the Customer on the settlement date. A precondition for the payment of the trading price is that the Customer has fulfilled his or her obligations pertaining to the trade. If the payment is delayed because of a reason attributable to the bank, the bank is liable to pay default interest on the delayed amount in accordance with the provisions of the Interest Act.
