EFP definition

EFP means the purchase, sale or exchange of natural Gas as the "physical" side of an exchange for physical transaction involving gas futures contracts. EFP shall incorporate the meaning and remedies of "Firm", provided that a party’s excuse for nonperformance of its obligations to deliver or receive Gas will be governed by the rules of the relevant futures exchange regulated under the Commodity Exchange Act.

EFP means an exchange of futures for physicals that involves contemporaneous transactions in futures contracts and the underlying cash commodity or a closely related commodity.

EFP means the purchase, sale or exchange of Electricity as the "physical" side of an exchange for physical transaction involving Electricity futures contracts. EFP shall incorporate the meaning and remedies of "Firm", provided that a party’s excuse for nonperformance of its obligations to deliver or receive Electricity will be governed by the rules of the relevant futures exchange regulated under the Commodity Exchange Act.

Examples of EFP in a sentence

• For purposes of this paragraph, Client expressly authorizes Advantage to act as broker for Client or as principal opposite Client with respect to such EFP transactions and to execute such physical commodity transactions and documents on behalf of Client as may be necessary to effect such EFP transactions.

• Client recognizes such EFP transactions are not competitively executed by open outcry on an exchange, but will be executed at the market price then available to Advantage.

• ICE Brent Futures is a contract deliverable via EFP with an option to cash settle.

• Bids should be forwarded by Bidders under their original memo / letter pad inter alia furnishing details like TIN number, VAT/CST number, Bank address with EFP Account if applicable, etc and complete postal & e-mail address of their office.

• However, in circumstances where the EFP Transaction is between a bank/foreign exchange dealer and a CTA, account controller, or other Person acting on behalf of a third party (such as a commodity pool or fund), the cash side confirmation statement must identify, at minimum, the name of the third party’s Carrying Clearing Member and the third party’s account number (or other account specific designation), but need not identify the third party by name.

More Definitions of EFP

EFP means, when used in a Confirmation of a Gas Transaction, the purchase, sale or exchange of natural Gas as the "physical" side of an exchange for physical transaction involving gas futures contracts. EFP shall incorporate the meaning and remedies of "Firm", provided that a party’s excuse for nonperformance of its obligations to deliver or receive Gas will be governed by the rules of the relevant futures exchange regulated under the U.S. Commodity Exchange Act (7 U.S. Code 1, as amended).

EFP means an exchange of Futures Contracts for physical Commodities and is further defined in Rule 416.

EFP means the exchange of a futures contract for, or in connection with, physical delivery in accordance with the rules of the applicable Commodity Exchange.

EFP means the Commission's Electronic Filing Procedures.

EFP. ’ means the Commission’s Electronic Filing Procedures.

EFP means the economic and financial plan relating to concessions to operate Italian toll motorways;

EFP is the Floor Price in effect on the dealing day immediately prior to the QTE Effective Date.