Common use of POSITIONS AND DELIVERIES Clause in Contracts

POSITIONS AND DELIVERIES. Client acknowledges Client’s reporting obligations (regarding certain sized positions) under regulations promulgated by the CFTC (“CFTC Regulations”), including the obligation to complete Form 40 upon request by the CFTC. Client acknowledges that the making or accepting of delivery pursuant to a futures Contract may involve a much higher degree of risk than liquidating a position by offset. X.X. X’Xxxxx has no control over and makes no warranty with respect to grade, quality, or tolerances of any commodity delivered in fulfillment of a Contract. Client understands that unless the Contract specifications state to the contrary, every futures Contract contemplates delivery and Client shall promptly advise