Chapter I General provisions
First to ensure that Northeast Asia Magnesia Materials Exchange ( hereinafter "Materials Exchange"), the normal operations of the clearing, regulate the physical delivery of goods, according to theNortheast Asia Magnesia Materials Exchange in Settlement rulesof respective rules.
Second settlement refers to the buyers and sellers based on Materials Exchange rules and electronic trading of the contract, the seller to transfer ownership of the commodity to the buyer, buyer payment money order clean process.
Physical delivery referred to in article III of these rules must be Materials Exchange designated settlement warehouse according to the stipulated procedure.
Article fourth deal agreed upon in both Materials Exchange locations other than the designated settlement warehouse delivery and related matters by the parties through consultation,Materials Exchange does not bear all the responsibility.
Article fifth Materials Exchange settlement business in accordance with these rules,Materials Exchange, traders and the designated settlement warehouse shall conform to these rules.
Chapter II warehouse processes
Article sixth seller dealer prior to procure goods in storage.
Article seventh seller dealer Materials Exchange website designated settlement warehouse address, phone, contact, and other information.
Eighth a selling dealer call delivery warehouse, the advisory capacity and estimated time of storage warehousing business.
Nineth dealer shall, within the prescribed period settlement warehouse shipments.
Tenth after the goods arrived in the designated settlement warehouse, designated settlement warehouse Materials Exchange regulations on arrival and relevant documents for verification.
11th to acceptance of goods, the owner should be to the designated settlement warehouse supervision received ; Owner library supervision received, and as a result owner agreed to designate acceptance of delivery warehouse.
12th the owner according to the designated settlement warehouse goods after storage, designated settlement warehouse to the owner to issue Materials Exchange format of the stock certificate and stamp Materials Exchange reserved the seal.
13th article of warehouse stock certificates of the Materials Exchange in a warehouse management system to the seller to issue warehouse receipts, and submitted to the Materials Exchange for review.
Article 14th Materials Exchange check warehouse stock certificate issued and the warehouse receipt and approval of the registered warehouse. After the entry into force of the registered warehouse, the warehouse receipt in warehouse corresponds to the physical goods but by the Bill of lading can be extracted.
Chapter III the settlement process
15th physical goods delivery should be on Materials Exchange completed within the stipulated time.
16th delivery program:
(A ) payment delivery date
1. payment of the buyer. In the allotted time, the buyer will receive the goods the rest of the 80% loans through its own dedicated account of funds go to the Materials Exchange special settlement account by Materials Exchange freeze ;
2. the seller of the registration of the warehouse receipt. In the allotted time, the seller shall store the goods in Materials Exchange designated settlement warehouse, Materials Exchange audit forming the registered warehouse and warehouse close to delivery date ( delivery date ) all storage charges ;
3.Materials Exchange Distribution of the registration of the warehouse receipt. Materials Exchange based on the available resources, in accordance with the " nearest match, arrange " the principle of distribution of the registered warehouse to the buyer;
4. the dealer can be matched by clients to query specific results.
(II )of the Bill of lading issued
Materials Exchange According to the purchaser assigned to the registration of the warehouse receipt, issued to the purchaser of the Bill of lading, Bill of lading in duplicate ( dealers, otherMaterials Exchange copies ), passed to the buyer and delivery warehouse, respectively.
(Three ) delivery date
1. the buyer's delivery and inspection. Buyers of the Bill of lading to the warehouse for delivery procedures. If the buyer on settlement disagrees with the quality and quantity of the goods, shall, on the last day of the delivery day 15:00 point, in written form or through electronic platforms to the Materials Exchange application and before the specified time, provide Materials Exchange specified quality of identification conclusion issued by quality inspection organizations. Fails to apply, as a buyer of the delivery of goods without objection,Materials Exchange no longer accepts the application for settlement goods has objections. Quality, quantity, the responsible party in the dispute, inspection and related costs, and assume the direct economic loss ;
2. If the buyer on delivery day last day 15:00 prior to delivery the quality of the goods, the number of uncontested or dispute is resolved, in the client to confirm the settlement. Fails to confirm, the default quality of goods without objection ;
3. the buyer of goods without objection,Materials Exchange confirmed as being close to delivery day ( same day ) prior to all storage fees, buyer's 80% first allocation of payments to the seller, the system automatically invoice issued notice to the seller.
(IV ) invoice verification day
1. the seller in the invoice confirmation before VAT invoices to the buyer, buyer invoices raised no objection, on the same day 15:00 point at the client before the invoice is confirmed. Fails to confirm that by default no objections to invoices ;
2. confirm the seller's VAT invoices is correct, theMaterials Exchange buyer remaining 20% balance transfers to the seller. If there are objections,Materials Exchange verification in accordance with dealer invoice amount, judging the seller's breach of duty, liquidated damages for the seller's failure to issue the invoice 20% calculate and pay the buyer and the rest allocated to the seller ;
3. the purchaser will be subject to a commodity for future delivery, shall be according to the provisions of the relevant procedures.
Fourth chapter out of process
Article 17th of the corresponding goods only available with the registered warehouse Materials Exchange of the Bills of lading issued by the party can pick up. Specifying the correct delivery of the Bills of lading, warehouse audit after the delivery.
18th the owner themselves to a library delivery, third party delivery or a delegate on behalf of the designated settlement warehouse shipment. But when the owner trust designated settlement warehouse to ship, the owner should be to the prison ; Owner library supervisor, be regarded as a recognized designated settlement warehouse shipments are correct.
19th designated settlement warehouse shipment should be stamped with the Special seal for payment of goods in the Bill of lading, stay paired with the warehouse and keep for future reference.
The fifth chapter nationwide HR service delivery
20th nationwide HR service delivery is in accordance with market principles, dealers store goods in designated settlement warehouse or the use of units and production unit, warehouse and Materials Exchange electronic trading system registered in the warehouse receipt, directly specified in the non-delivery of delivery of cargo from the warehouse.
Article 21st nationwide HR service delivery conditions:
(A ) dealer to Materials Exchange remote settlement put forward a written application;
(The second ) to obtain bank or logistics enterprises guarantees.
22nd nationwide HR service delivery process
(A ) dealer and factory libraries signed a stock purchase and sale agreement, issued as a dealer of the standard application form for registration of the warehouse receipt to the Materials Exchange register.
(B ) dealers carry the standard application form for the registration of the warehouse receipt to the Materials Exchange to register.
(Three ) Materials Exchange auditing banks or logistics enterprises to provide guarantees or cash margin.
(Four ) Materials Exchange dealers issued registered warehouse receipts.
Sixth chapter fee
23rd for the physical delivery of the buyer and seller shall separately to the Materials Exchange pay a settlement fee. Specific criteria for settlement fees, see the electronic transactions of the listed commodity contracts.
Article 24th merchandise warehousing and storage costs incurred during the project and standard formulated by the designated settlement warehouse and Materials Exchange approved.
25th designated settlement warehouse fee collection methods are as follows:
() warehouse fees charged by the day. From the date of the warehouse to the last delivery day ( contains the delivery day ) storage costs and related expenses borne by stock traders and warehousing fees and related expenses shall be borne by the goods dealer.
(The second ) designated settlement warehouse, based on actual projects and services, according to the prescribed standards issued by the legal settlement voucher and cross-checked the owner, by the owner of the goods to the designated settlement warehouse all at once.
Article 26th of the following circumstances, constitute settlement defaults:
(One ) within the settlement period stipulated, sellers of inadequate delivery of the registered number of the warehouse receipt;
(II ) within the prescribed period settlement, fails to pay the purchase price by the buyer;
(Three ) quality, quantity of the goods by the seller does not meet the criteria for electronic transaction contract;
(Four ) within the prescribed period, the seller's failure to issue VAT invoices corresponding to the delivery of goods.
27th formula to calculate, the number of settlement for breach of contract by the seller for:
Settlement for breach of contract by the seller number = number of the registered warehouse - has been handed over to the registration of the warehouse receipt number
Buyer's settlement for breach of contract amount =( purchase price payable - payment ) ÷ (1-20%) ÷ settlement prices
After the settlement defaults in article 28th,Materials Exchange day of the default to face-to-face, telephone, fax or electronic information to notify offending parties correspond to and compliance, and take the appropriate form of publicity.
29th constitute settlement default, by the party in breach to pay part of the penalty, while repaying the defaulting parties deposit and shall be processed as follows:
(One ) seller's breach, termination of seller's breach of contract settlement,Materials Exchange refund to the buyer the corresponding amount of money.
(II ) breach, termination of buyer's breach of contract settlement,Materials Exchange returned to the seller as many of the registered warehouse.
Article 30th default behavior of traders and designated settlement warehouse has an obligation to provide the evidence associated with the breach. Dealer refused to give evidence, without prejudice to the findings of fact for breach.
31st buyer and seller on the inspection results of the settlement dispute, generally by the parties to the dispute will test an approach. Can also draw attention to Materials Exchange designated quality inspection re-inspection, retest results are the basis for the settlement of disputes.
The seventh chapter by-laws
32nd article this rule of interpretation belongs to the North-East Asia-magnesia materials Materials Exchange, pursuant to this rulemaking-related rules, regulations are an integral part of these rules.
33rd article this rule come into effect the day of issuing.