Common use of Settlement of Positions Clause in Contracts

Settlement of Positions. (a) You agree and acknowledge that: (i) payments to be made to you with respect to any CFD will be made in accordance with this clause; (ii) when a payment for difference is made, or a CFD is closed out in accordance with this Client Agreement Mitrade will credit to your Account any amount payable by Mitrade to you; (iii) you must (subject to sub-clause (i)) pay to Mitrade any amount payable by you to Mitrade in such currency as Mitrade may require in cleared funds within 24 hours of being advised of the amount so payable; (iv) if there is then sufficient Margin, any amount owing by you under this clause may be settled in whole or in part by debiting your Account; (v) Mitrade reserves the right to offset any money owed to you under this Client Agreement or any other agreement against any money owed by you under this Client Agreement or any other agreement; and (vi) if you have requested payment of any money owed to you under this clause, Mitrade will deduct any funds eligible for withdrawal from your Account and pay it to you by cheque or in such other manner as may be agreed between Mitrade and you. If you have not requested payment of any money so owed to you it will be retained in your Account.

Settlement of Positions. (a) You agree and acknowledge that: (i) payments to be made to you with respect to any CFD OTC Derivative will be made in accordance with this clause; (ii) when a payment for difference is made, or a CFD an OTC Derivative is closed out in accordance with this Client Agreement Mitrade will credit to your Account any amount payable by Mitrade to you; (iii) you must (subject to sub-clause (i)) pay to Mitrade any amount payable by you to Mitrade in such currency as Mitrade may require in cleared funds within 24 hours of being advised of the amount so payable; (iv) if there is then sufficient Margin, any amount owing by you under this clause may be settled in whole or in part by debiting your Account; (v) Mitrade reserves the right to offset any money owed to you under this Client Agreement or any other agreement against any money owed by you under this Client Agreement or any other agreement; and (vi) if you have requested payment of any money owed to you under this clause, Mitrade will deduct any funds eligible for withdrawal from your Account and pay it to you by cheque or in such other manner as may be agreed between Mitrade and you. If you have not requested payment of any money so owed to you it will be retained in your Account.

Settlement of Positions. (a) You agree and acknowledge that: (i) payments to be made to you with respect to any CFD OTC Derivative will be made in accordance with this clause; (ii) when a payment for difference is made, or a CFD an OTC Derivative is closed out in accordance with this Client Agreement Mitrade will credit to your Account any amount payable by Mitrade to you; (iii) you must (subject to sub-clause sub−clause (i)) pay to Mitrade any amount payable by you to Mitrade in such currency as Mitrade may require in cleared funds within 24 hours of being advised of the amount so payable; (iv) if there is then sufficient Margin, any amount owing by you under this clause may be settled in whole or in part by debiting your Account; (v) Mitrade reserves the right to offset any money owed to you under this Client Agreement or any other agreement against any money owed by you under this Client Agreement or any other agreement; and (vi) if you have requested payment of any money owed to you under this clause, Mitrade will deduct any funds eligible for withdrawal from your Account and pay it to you by cheque or in such other manner as may be agreed between Mitrade and you. If you have not requested payment of any money so owed to you it will be retained in your Account.

Settlement of Positions. (a) You agree and acknowledge that: (i) payments to be made to you with respect to any CFD Contingent Liability Investment Product will be made in accordance with this clause; (ii) when a payment for difference is made, or a CFD Contingent Liability Investment Product is closed out in accordance with this Client Agreement Mitrade will credit to your Account any amount payable by Mitrade to you; (iii) you must (subject to sub-clause sub−clause (i)) pay to Mitrade any amount payable by you to Mitrade in such currency as Mitrade may require in cleared funds within 24 hours of being advised of the amount so payable; (iv) if there is then sufficient Margin, any amount owing by you under this clause may be settled in whole or in part by debiting your Account; (v) Mitrade reserves the right to offset any money owed to you under this Client Agreement or any other agreement against any money owed by you under this Client Agreement or any other agreement; and (vi) if you have requested payment of any money owed to you under this clause, Mitrade will deduct any funds eligible for withdrawal from your Account and pay it to you by cheque or in such other manner as may be agreed between Mitrade and you. If you have not requested payment of any money so owed to you it will be retained in your Account.