Spot/Forward Trades Sample Clauses

Spot/Forward Trades. In a spot trade, a contract is entered into under which metal is sold and purchased at the current price and current time. In a forward trade, the sale or purchase is to take place at a time in the future. These trades are predominantly in respect of unallocated metals and can be closed out before the contract maturity date – they can be cash settled, rather than the underlying metal being physical delivered. However, a significant number of spot and forward trades will reach maturity, and the underlying metal will be physically delivered or credited across unallocated accounts. VAT Analysis When these trades are in respect of unallocated metal, they are treated as supplies of services, and when the metal is allocated, as supplies of goods. Although the majority of contracts do not go to delivery, they are still treated as being taxable supplies for VAT purposes as the contracts are capable of delivery.
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Related to Spot/Forward Trades

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  • Crib Time 17.6.1 An employee working overtime shall be allowed a crib time of 20 minutes without deduction of pay after each four hours of overtime worked provided the employee continues working after such crib time.

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  • Union Bulletin Boards The Employer will provide bulletin boards in each building which may be used by the Union for posting notices of the following types:

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