Common use of Settlement of Purchases Clause in Contracts

Settlement of Purchases. You should ensure that cleared funds are on your account by the settlement date at the latest. Failure to have cleared funds on your account will result in a breach of our Terms. In these circumstances we may make an additional charge and interest may be added for any overdue amounts. We will attempt to contact you, but if the funds are not on their way to us, or we are unable to contact you, we reserve the right to sell the shares at the prevailing market price and charge you full commission and charges and close any other open transactions on your account to reduce the loss, or risk of further loss, on your account. You will be responsible for paying any outstanding deficit on your account, including all commissions, charges, interest and legal costs associated with recovering any deficit.

Settlement of Purchases. You If applicable, you should ensure that cleared funds are on your account by the settlement date at the latest. Failure to have cleared funds on your account will result in a breach of our Terms. In these circumstances we may make an additional charge and interest may be added for any overdue amounts. We will attempt to contact you, but if the funds are not on their way to us, or we are unable to contact you, we reserve the right to sell the shares at the prevailing market price and charge you full commission and charges and close any other open transactions on your account to reduce the loss, or risk of further loss, on your account. You will be responsible for paying any outstanding deficit on your account, including all commissions, charges, interest and legal costs associated with recovering any deficit.