Common use of There is no Central Market or Clearinghouse Guarantee of Payment Clause in Contracts

There is no Central Market or Clearinghouse Guarantee of Payment. Each Contract is a contract directly between XXXXX.xxx Canada and the Customer. There is no clearinghouse and no guarantee by any other party of XXXXX.xxx Canada’s payment obligations to the Customer. Customer must look only to XXXXX.xxx Canada for performance on all Contracts in Customer’s Account and for return of any Margin or Collateral.

There is no Central Market or Clearinghouse Guarantee of Payment. Each Contract is a contract directly between XXXXX.xxx Canada and the Customer. There is no clearinghouse and no guarantee by any other party of XXXXX.xxx Canada’s payment obligations to the Customercustomer. Customer must look only to XXXXX.xxx Canada for performance on all Contracts in Customer’s Account and for return of any Margin or Collateral.