Upon Expiration of the contract the seller with open position
will have three business days (E+3) to deliver the Sugar at the
Exchange approved and designated warehouse after
completing all Exchange specified procedures for delivery
including the quality and quantity certification.
The Delivery can also be made through an Ex-Sugar Mill
Delivery Order (DO) of any sugar Mill from a panel of sugar
Mills approved by the Exchange. The Seller needs to submit
the DO in the name of matched buyer to the Exchange latest by
E+3.The DO should be valid for at least seven (E+7) working
days from the expiry of the contract.
The DO should be unconditional and should meet the quality,
quantity and packaging specifications as per contract
specifications and the loading of the bags to the truck arranged
by the buyer.
The DO should be in the name of the matched buyer as
communicated by the Exchange to the seller or his broker. The
DO should also indicate that this DO is for the fulfillment of
Delivery obligation of PMEX Sugar futures contract. PMEX
will stamp it and two officers will sign the DO before handing it
over to the buyer for authentication purpose.
Exchange has no responsibility whatsoever in case of loss or
misuse of DO once delivered to the buyer.
If DO is not honored by the Mill it would be considered as a
default by the seller and would be subject to penal charges
determined by the Exchange. The buyer has to report for any
such event latest by E+8 till 1pm. |