Common Contracts
1 similar Foreign Exchange Trading Agreement contracts
FOREIGN EXCHANGE TRADING AGREEMENTForeign Exchange Trading Agreement • May 9th, 2017
Foreign Exchange Trading Agreement Between Mercantile Bank Limited, Registration 1965/006706/06 (“the Bank”) and Registration Number (‘the Client”) The Bank and the Client wish to enter into transactions in respect of the purchase and sale of Foreign Exchange, subject to the following terms and conditions. 1. TRANSACTIONS 1.1 Foreign Exchange can be bought and sold for delivery, either through: 1.1.1 A Spot Foreign Exchange Transaction whereby delivery of foreign currency is made within two business days hence. 1.1.2 A Forward Exchange Contract whereby foreign currency is delivered at an agreed future date and specified rate. 1.2 The Client will be entitled, on the terms and conditions recorded herein, to enter into Spot Foreign Exchange Transactions and/or Forward Exchange Contracts (hereinafter referred to as the “transaction”) with the Bank as counterparty. 1.3 The term of any Forward Exchange Contract shall be limited to 180 days. The term may be extended to 3
