Home

COMTRACK PHYSICAL DELIVERY GUIDE V 1.2 14

1. In case of such shortages the settlement of short delivered or over delivered portion is completed at the Final Settlement Price plus the location premium or discount applicable for that center 21 41 Registered Office 1st floor Akruti Corporate Park Near G E Garden LBS Road Kanjurmarg West Mumbai 400 078 India Phone 91 22 6640 6789 Fax 91 22 6640 6899 Website www ncdex com NCDEX 10 Process of delivery 10 1 Ouality and delivery lots It is necessary for the delivering participants to deliver one deliverable lot at each time of pay in For e g Delivery is to be offered and accepted in deliverable lots gross or multiples thereof A quantity variation is permitted on deliverable lot as per contract specification If the delivering participant is not able to deliver as per the delivery lots then it would be treated as Short Delivery Members and their constituents should therefore ensure that the delivery of commodities at the time of pay in is only in deliverable lots to ensure Smooth settlement process 10 2 Delivery process The client who wants to deliver the commodity should transfer the credit balances from his account to the clearing Member pool account before the pay in Settlement date specified by the Exchange by filling up the Client to pool Transfer Form This form will be provided by the CP Basic formats of all forms are available on COMTRACK website While filling up the Client to Poo
2. ACCOUNL oocoococo coco oma 6 3 Process of commodity deposit and credit in the COMTRACK account oooco o W cW W W 6 3 1 While filling up the Commodity Deposit Form the client has to ensure the following 7 3 2 The process of obtaining electronic credit in COMTRACK oooooocoWooc Woc Wo W W W Wo 8 4 Process of revalidation of LOt Soo c oooo co oooooo oWo o omosoisakwi bean ana Kena na ha abon 9 4 1 Concept of validity date and need for revalidation co oe an 9 4 2 Rules and procedure for revalidation oo 10 4 5 Failuire IN revaliga UOn onani nanas ana andini R aan AN AN RN AAN aa AR ROA Kn Ri 10 5 Protes OF PSG WN scat veece vice oncace cence sete N A ANA 11 Dak TINGS Ro aneka Maa 11 D2 EXHOSUrS FCC Oe en ea tt ea ion ngi 12 6 Process Of withdrawal Of lOtS oo oo Wc WWW cc 12 6 1 Sampling before taking physical delivery Loc Wc Wc Woman 13 6 2 Outbound deliveries ae oat inanaa ian ia ane aan AOA NN ARA 13 EEEn E ta 14 8 Process of delivery at Exchange ne 14 8 1 Submission of delivery reguest coccccoccococcocococcocococococccoc coco cc 14 0 2 Rejection of delivery TEGU ea an aU ia Ran Un 16 8 3 Delivery mateng ea en et ato ian Giaa dor 16 Oe kene Pe aan at 17 na aa E O A 18 8 6 Query of delivery requests already submitted o oo omah 21 8 7 Reading delivery information files ccococcoo c oo coco W Wo 21 8 8 Settlement Calendar sana oo
3. www ncdex com 35 41 15 12 NCDEX The requirements of this process would be i registration of the sellers as well as buyers at the warehouse address and ii only first and second stage sellers can pass on the credit and not any subsequent sellers The seller will be able to claim the amount paid towards CVD over and above the quoted price only if the seller is able to pass on the CENVAT credit to the buyer under the laws governing central excise irrespective of whether the buyer is entitled to claim or not In other words only importers and first and second stage dealers registered under the Act will be able to claim central excise amount to the extent of amount specified in the Central Excise Invoice which will have to be handed over to the buyers Registration for specific commodities In some commodities Members need to register themselves with certain agencies in order to deal in those commodities Such details regarding the commodities are available in the respective product notes Registered Office 1st floor Akruti Corporate Park Near G E Garden LBS Road Kanjurmarg West Mumbai 400 078 India Phone 91 22 6640 6789 Fax 91 22 6640 6899 Website www ncdex com 36 41 Annexure Format of Settlement Calendar The Settlement Calendar and timelines for submission of delivery Intentions for all Contracts due to expire in the month of January 2014 amp Bullion contracts due to expire in the month of February 20
4. 1st floor Akruti Corporate Park Near G E Garden LBS Road Kanjurmarg West Mumbai 400 078 India Phone 91 22 6640 6789 Fax 91 22 6640 6899 Website www ncdex com 14 41 NCDEX window will close 5 days 3 days prior to the expiry date of the contract in case of Sellers Option and Intention Matching Contract v The marking of intention for staggered delivery contracts of Gold and Silver will start one working day prior to the last working day other than a Saturday of the calendar month prior to expiry date of the contract or as may be notified by the Exchange from time to time v The marking of intention for staggered delivery contracts Compulsory Delivery and certain Sellers Option contracts i e Soybean other than Gold amp Silver start on 11th of every month in which the contract is due to expire excluding Saturdays In case 11 happens to be a Saturday a Sunday or a holiday at the Exchange the tender period would start from the next working day v On the day of expiry of compulsory delivery contracts all the outstanding open positions shall result in compulsory delivery Y On expiry of the contract the following type of open positions would be cash settled in Intention matching contract amp Sellers Option contract o Delivery information not provided Unmatched Deliver Information v In case of Sellers Options the Exchange may impose penalties for cash settlement as may be decided on sellers who c
5. G E Garden LBS Road Kanjurmarg West Mumbai 400 078 India Phone 91 22 6640 6789 Fax 91 22 6640 6899 Website www ncdex com 8 2 8 3 NCDEX Quantity Client Code Location where delivery is to be given received x AN S Deposited in warehouse Flag If the commodities have been deposited in the approved warehouse and or credit has been received in the COMTRACK account of the client this flag has to be selected by the member Rejection of delivery request The rejection of delivery requests will happen under the following circumstances v Non availability of open position to the extent of the delivery reguest The reguest will be valid only to the extent of the open position for the Member at client level in the respective contract Any additional delivery reguest will be rejected v The delivery request can also be rejected in case the warehouse capacity of the commodity is exceeded or for such other reasons that the Exchange may deem fit Delivery matching Seller s right Contracts Sell requests A valid sell delivery request would result in delivery on the Exchange for those contracts which have seller s right to deliver Buy Requests For contracts with seller s right to deliver delivery obligation would be created for all valid sell requests received by the Exchange and allocation would be done to the Buyers with open positions on a random basis whether or not the buy request has been submitt
6. into the Exchange approved warehouses has to conform to the specifications as given by NCDEX for the different commodities for further details please see the product notes on the NCDEX website www ncdex comunder Products section Quality certification given by approved assayer shall be considered final and binding on all the parties e Once the depositor deposits the commodities duly certified by the approved assayer at the warehouse the warehouse will issue a confirmation of receipt of commodity to the client e After assaying the assayer sends the copy of the report to the client warehouses amp one copy will be retained for record purpose e The client will have to bear all the initial charges such as initial storage charges till the date of electronic credit being levied by warehouse for a minimum period of 7 days or as given on the Website as indicative warehouse charges loading unloading charges weighing sampling charges etc These charges will be payable directly to the warehouse and after the credit is received in the COMTRACK account the applicable COMTRACK Participants charges will have to be paid to the respective COMTRACK Participant The applicable warehouse charges will be collected via the COMTRACK Participant and paid to the warehouse on a monthly basis Client may please note that they have to make payment of all applicable charges on time else penalty clause as determined by Exchange from time to time wi
7. is available at Common Web NCFE folder on Extranet 12 Physical Delivery Settlement Charges The Exchange will levy a charge for physical deliveries of goods on the Exchange platform in settlement of contracts for all agri commodities and for steel in the metals group The Exchange will levy on each side i e seller and buyer a delivery charge of 0 15 of the value of delivery 13 NCDEX Clearing Front End Software NC FE With a view to facilitate the submission of data to the Exchange NCDEX Clearing Front End Software NCFE has been developed NCFE allows Members to carry out the various activities in a convenient and user friendly manner Members can access NCFE for the following activities v Unique Client Code Maintenance of Client Code details amp Submission to the Exchange v Daily clearing files Loading of daily clearing data amp viewing the information NCFE was released by the Exchange on November 26 2004 Using NCFE a Member can interact with Exchange in structured manner Registered Office 1st floor Akruti Corporate Park Near G E Garden LBS Road Kanjurmarg West Mumbai 400 078 India Phone 91 22 6640 6789 Fax 91 22 6640 6899 Website www ncdex com 26 41 NCDEX e Members can contact NCDEX Customer service group if they have not received the CD ROM for NCFE software CD ROM of NCFE contains detailed procedure for installation and the manual on how to operate NCFE e The disabled mem
8. moulds will be fumigated by the warehouse service providers at their cost and delivery would be given in reasonable time frame to the buyer In some commodities there is a tolerance limit in quality parameters at the time of taking the goods out of the warehouse as per the contract specifications Such delivery would be treated as good delivery in terms of settlement Once goods are moved out of the warehouse no further claims complaints will be entertained by the Exchange on account of quality quantity 13 41 Registered Office 1st floor Akruti Corporate Park Near G E Garden LBS Road Kanjurmarg West Mumbai 400 078 India Phone 91 22 6640 6789 Fax 91 22 6640 6899 Website www ncdex com i NCDEX 7 Charges All charges which are incidental to the physical delivery are to be borne by the recipient and paid upfront at the time of delivery All charge till the time pay in is completed is to be borne by the depositor seller and after the pay out is completed the charges have to be borne by the buyer All charges and costs payable to the warehouse towards delivery of the commodity including sampling weighing handling charges initial storage charges etc up to electronic credit levied for the minimum holding period as decided by the Exchange from the date of receipt into designated warehouse up to the date of pay in and settlement shall be paid by the seller The indicative charges and minimum billing period is av
9. of mandi tax if applicable while depositing of goods in the warehouse and obtain the receipt certificate for the same The said mandi paid receipt certificate is required to be endorsed handed over to the next buying member client along with other settlement related documents like invoice The Buyers should inform non receipt of any settlement related document including mandi tax paid certificate receipt to the Exchange within the specified timelines i e E 22 or 12 of the following month in which the contract expired whichever is later If no such information is received from the member constituent who is entitled to receive such documents it is deemed that all the requisite information and documents have been exchanged between the selling and the buying members Non furnishing of documents to the buyers is considered as violations of the Regulations and directives of the Exchange The penalties levied in such cases are in addition to the value of the Settlement documents required to be issued or given to the counter party The members who are under obligation to deliver or issue such settlement documents would be liable to pay the value corresponding to the settlement related documents and such value will be debited to them and passed on to the counterparty The above penalties levied by the Exchange would in no way be the substitute or be in lieu of any action that the Mandi tax authorities may impose upon such members for not com
10. the contract for which early pay in has been made or in case position is squared off in the contract In case the open position is squared off after marking an Early pay in or delivery allocation is from a different location than the lots tendered in Early pay in the lots delivered by the member will be returned to the member on respective Physical Settlement pay in pay out day If there is a shortage for the same Member in commodities pay in for other delivery positions in other commodities the Early pay in lot will not Registered Office 1st floor Akruti Corporate Park Near G E Garden LBS Road Kanjurmarg West Mumbai 400 078 India Phone 91 22 6640 6789 Fax 91 22 6640 6899 Website www ncdex com 25 41 NCDEX be utilized for the member s delivery shortages and will be released back to the Member Refer Circular No NCDEX CLEARING 003 2011 008 dated January 06 2011 11 3 Merits of early pay in EPI One of the major benefits of Early Pay In is that on receipt of Early Pay In all applicable margins collected towards physical settlements are released It also saves the hassles of not being able to deliver the commodity on pay in day for a CM 11 4 Early Pay in process in COMTRACK using NCFE A CM has to ensure that goods are deposited in COMTRACK before marking an EPI A Clearing Member can mark EPI against the position allocation A help manual for using the Web based Early pay in module
11. the penalty shall go to the Buyer who was entitled to receive delivery and v Balance 0 25 component of penalty shall be retained by the Exchange towards administrative expenses Further the difference between the FSP and the average spot price as given above shall also go to the buyers Please refer circular no NCDEX TRADING 045 2012 161 dated April 30 2012 Penalty structure for commodity settled through Direct Delivery mechanism is as follows In case of Seller default after allocation i e T 1 to T 8 the prescribed penalty should be 3 0 as per below v 1 75 component of the penalty shall be deposited in the Investor Protection Fund of the Exchange v 1 0 component of the penalty shall go to the Buyer who was entitled to receive delivery and v Balance 0 25 Yo component of penalty shall be retained by the Exchange towards administrative expenses v The difference between the Final Settlement Price FSP and the average of three highest of the last spot prices of 8 Eight succeeding days after the expiry of contract T 1 to T 8 days if the average spot price so determined is higher than FSP will also be charged to the seller If the buyer makes the pay in but does not specify the warehouse where the delivery should be given then the buyer would be penalized and 3 0 penalty shall be levied on buyer and used as under v 1 75 component of the penalty shall be deposited in the Investor Protection Fund of th
12. 14 are given in the following tables The Trading and Clearing Members are requested to note the Settlement Type for every commodity using the Key given in Para 1 below where the commodities are classified on the basis of delivery logic and settlement type Settlement Type Tender Delivery Intention Marking Premium Deliver Physical Discount Sales Tax Symbol Expiry Date y y Settlemen Settlemen Start Date End date Logic Settlement tand t Close Out Compulsor y with Staggered Delivery SUGARM200 20 Jan 14 13 Jan 14 20 Jan 14 WHEAT 20 Jan 14 13 Jan 14 20 Jan 14 STEELLONG 20 Jan 14 13 Jan 14 20 Jan 14 GOLD 03 Feb 14 30 Jan 14 03 Feb 14 Seller s Option with A SYBEANIDR 20 Jan 14 13 Jan 14 20 Jan 14 Staggered Delivery Seller s Option K A GURCHMUZR 20 Jan 14 10 Jan 14 13 Jan 14 Contracts viene Matching G A N 31 Jan 14 23 Jan 14 25 Jan 14 RBDPALMOLN 31 Jan 14 23 Jan 14 25 Jan 14 NCDEX gs we Settlement Calendar All Commodities Physical Settlement Premium DISCOUNTS Cose OUL Sales Tax Settlement Settlement Delivery and Funds Funds esera PE lki STL No Funds Pay in da STL No Payin and el STL No Payin and piry YP and Pay out YP Payout YP Payout Ma ai 2014001 08 Jan 14 2014001 08 Jan 14 2014001 13 Jan 14 07 Jan 14 2014002 09 Jan 14 2014002 09 Jan 14 2014002 15 Jan 14 Joania 2014003 10 Jan 14 2014003 10 Jan 14 2014003 16 Jan 14 PAE 2014004 13 Jan 14 2014004 13 Jan 14 20
13. 14004 17 Jan 14 10 Jan 14 2014005 15 Jan 14 2014005 15 Jan 14 2014005 20 Jan 14 13 Jan 14 2014006 16 Jan 14 2014006 16 Jan 14 2014006 21 Jan 14 i 2014007 16 Jan 14 2014008 17 Jan 14 2014009 20 Jan 14 2014010 21 Jan 14 penne 2014006 16 Jan 14 2014007 17 Jan 14 2014008 20 Jan 14 2014009 21 Jan 14 2014007 22 Jan 14 2014008 23 Jan 14 2014009 24 Jan 14 15 Jan 14 16 Jan 14 17 Jan 14 2014001 21 Jan 14 2014002 21 Jan 14 i 2014003 22 Jan 14 akc 3 2014004 04 Feb 14 20 Jan 14 2014001 22 Jan 14 30 Jan 14 2014001 31 Jan 14 2014017 31 Jan 14 31 Jan 14 2014002 03 Feb 14 2014018 03 Feb 14 Dereon 2014003 04 Feb 14 2014016 04 Feb 14 2014009 21 Jan 14 2014009 21 Jan 14 2014010 22 Jan 14 2014016 04 Feb 14 2014010 22 Jan 14 2014009 24 Jan 14 2014009 24 Jan 14 2014010 27 Jan 14 2014015 07 Feb 14 2014006 21 Jan 14 17 Jan 14 G 18 Jan 14 G 20 Jan 14 G 2014010 27 Jan 14 2014016 05 Feb 14 2014017 06 Feb 14 2014015 07 Feb 14 A A A A A A A A A A A A A A A K A N A N A 20 Jan 14 Do 2014011 22 Jan 14 A 2014010 22 Jan 14 j 2014010 27 Jan 14 38 41 Registered Office 1st Floor Akruti Corporate Park Near G E Garden LBS Road Kanjurmarg West Mumbai 400 078 India Phone 91 22 6640 6789 Fax 91 22 6640 6899 Website www ncdex com NCDEX a to Commodities under Direct Delivery mechanism Physical Settlemen t Premium DIScount amp Close S
14. ACK Participant Rules and procedure for revalidation Assaying can be done only by the designated Assayer appointed by warehouse and approved by Exchange Revalidation of a commodity is possible only in the COMTRACK account No revalidations can happen in pool account It may please be noted that revalidation can also happen of balances on which a lien is created The lien need not be lifted for the lots to be revalidated The warehouse will acknowledge the receipt of revalidation request and allot a revalidation request number This number should always be quoted while enquiring the status of revalidation The warehouse will facilitate testing of the referred quantity The assaying handling and other incidental charges for revalidation has to be borne by the client holding the commodity balances the charges for such revalidation vary from commodity to commodity and indicative details are available on the Exchange website www ncdex comon the home page under the heading Clearing Services gt Others Time period for updation under normal circumstances will not be exceeding 7 days and it may also be noted that the lot s number s would not change after revalidation This facility would enhance the tracking ability of the system Failure in revalidation If the assaying report fails to confirm the quality or the expiry date of the commodity is over the beneficiary client is informed by the warehouse and has to take out the comm
15. CFE interface for exchange of information on documents related to sales tax between members The seller member shall share the invoice and dispatch details with the buyer and in turn buyer shall confirm the receipt of the same thereby completing the sales tax settlement process For this members shall login to the existing Web NCFE and use the Sales Tax module Registered Office 1st floor Akruti Corporate Park Near G E Garden LBS Road Kanjurmarg West Mumbai 400 078 India Phone 91 22 6640 6789 Fax 91 22 6640 6899 Website www ncdex com 29 41 E NCDEX The activities and respective timelines is given in the below table Updating details related to invoices or any From T E 3 03 00 settlement related document in NCFE by Delivering pm to T E 5 2 Updating details related to Dispatch of settlement From T E 3 03 00 related document in NCFE by Delivering Member pm ee Li 3 Receiving Member Confirmation on invoice details From T E 6 to T E 9 updated by Seller v Any update in invoice details after T E 5 and before T E 9 will first go to Exchange approval and then the same record should be approved by receiving Clearing Member Y If Delivering Clearing Member has not updated the invoice detail during T E 3 to T E 5 then from T E 6 penalty will be levied on Delivering Clearing Member for any updates in invoice details v The Receiving Clearing Member Constituent is required to inform discrepancy non
16. G E Garden LBS Road Kanjurmarg West Mumbai m C C 078 India Phone 91 22 6640 6789 Fax 91 22 6640 6899 Website www ncdex com NCDEX Physical withdrawal of commodities having crossed the Final PEE Date 6 Nov 2013 F gt we Removal of all ISIN balances from the depository accounts ra 15 Jan 2014 PN Kebab of Second Assayer for RM Seed Turmeric amp Jeera 14 Mar 2014 Disclaimer This guide is for information only Though utmost care has been taken in compiling and presenting the information the Exchange does not warrant the accuracy or completeness or updating of above information Neither the Exchange and Exchange affiliates nor their employees directors or agents shall be liable for any damage direct or indirect loss or costs whatsoever due to use of or relying upon the above information 41 41 Registered Office 1st Floor Akruti Corporate Park Near G E Garden LBS Road Kanjurmarg West Mumbai 400 078 India Phone 91 22 6640 6789 Fax 91 22 6640 6899 Website www ncdex com
17. NCDEX COMTRACK PHYSICAL DELIVERY GUIDE V 1 2 14 January 2015 17 41 Registered Office 1st floor Akruti Corporate Park Near G E Garden LBS Road Kanjurmarg West Mumbai 400 078 India Phone 91 22 6640 6789 Fax 91 22 6640 6899 Website www ncdex com NCDEX PREFACE TO THE PHYSICAL DELIVERY GUIDE NCDEX is the only commodity Exchange in the country promoted by national level institutions This unique parentage enables it to offer a bouquet of benefits which are currently in short supply in the commodity markets The institutional promoters and shareholders of NCDEX are prominent players in their respective fields and bring with them institutional building experience trust nationwide reach technology and risk management skills NCDEX is a nation level technology driven de mutualized on line commodity Exchange with an independent Board of Directors and professional management both not having any vested interest in commodity markets It is committed to provide a world class commodity Exchange platform for market participants to trade in a wide spectrum of commodity derivatives driven by best global practices professionalism and transparency We are extremely happy to present to our Members and constituents this edition of handbook on physical delivery guide It is the endeavor of the Exchange to incorporate the necessary changes in the existing process of physical delivery to smoothen the process and make it more tr
18. T 1 2 to the corresponding buyer matched by the process put in place by the Exchange 8 6 Query of delivery requests already submitted The delivery requests can be queried using the Ctri F4 key on the NCDEX trader workstation The list of delivery requests submitted for the current expiry period will be displayed 8 7 Reading delivery information files v Members who have submitted delivery requests can obtain the status of the requests and the delivery allocation if any with the following files v RS03 Reguest Status Report v ALO2 Delivery Allocation Report Please refer Circular No NCDEX TRADINGO04 2003 015 dated December 24 2003 for details 8 8 Settlement Calendar The Settlement Calendar is issued by the Exchange to inform Members regarding the schedule of various activities that are to be carried out for physical settlement of different commodities These activities are broadly classified as Commodities settlement Supplemental settlement for Premium discounts as well as Closing outs and Sales Tax settlement cycles A sample format of the Settlement Calendar is shown in Annexure 9 Shortages e Any shortage which is above acceptable limit is treated as short delivery and penalty will be charged on Seller Member as prescribed in section 8 5 e Acceptable limits are different for each commodity and are specified in the relevant contracts e g for Silver SILVER acceptable limit is 10 whereas for Guar Seed GUARSEED it is 2
19. ailable on the site under the heading Clearing Indicative Warehouse Charges The charges are payable by cash DD Generally the warehouse facilitates above activities these are purely value added services from the warehouse and as may be negotiated by the recipient with the warehouse The Exchange does not accept any liability responsibility towards these activities All charges and costs associated with delivery and including storage handling etc after the pay out shall be borne by the buyer Warehouse storage charges after credit is received in the COMTRACKS account will be charged to the client by the respective COMTRACKS Participants The Assayer charges for testing and guality certification should be paid to the assayer directly at the delivery location by the client 8 Process of delivery at Exchange 8 1 Submission of delivery reguest v v v Members who wish to give take delivery have to submit delivery reguests to the Exchange Submission of delivery reguests can be done within the stipulated period as mentioned in the following paragraph Sellers amp Buyers having open positions are required to give their intention notice to deliver to the extent of their open position at least 5 days for Agri Commodities 3 days for international referenceable commodities before the expiry of the contract Accordingly the window for acceptance of delivery requests will be open for 3 working days The Registered Office
20. ales Tax Settlement Out Settlement ST STL L Funds Funds Pay Typ STL No Pay in Guk Ty ISTL No e pe Funds STL No Payin and Payout ve 9 einne Pfam enna ove brome re Donasi ers a a pama P ce maa Po Taste ometa pma p ois sarin Den fe orots PN Schedule for exchange of Physical Delivery information invoices and otherrelated document STL Type 2014001 t6Jan 14 4 Jan 14 2014011 24 Jan 14 e 2014010 27 Jan 14 Invoice updation b i by Seller aah Confirmation Confirmation Da A Start me d Date Start Date End Date pate T 6 T 9 Iran T 5 06 Jan 14 d0 2014001 09 Jan 14 13 Jan 14 15 Jan 14 20 Jan 14 07 Jan 14 D 2014002 10 Jan 14 15 Jan 14 16 Jan 14 21 Jan 14 08 Jan 14 D 2014003 13 Jan 14 16 Jan 14 17 Jan 14 22 Jan 14 09 Jan 14 D 2014004 15 Jan 14 17 Jan 14 20 Jan 14 23 Jan 14 Invoice Buyer Buyer 10 Jan 14 d0 2014005 16 Jan 14 20 Jan 14 21 Jan 14 24 Jan 14 13 Jan 14 D 2014006 17 Jan 14 21 Jan 14 22 Jan 14 27 Jan 14 14 Jan 14 D 2014007 17 Jan 14 21 Jan 14 22 Jan 14 27 Jan 14 15 Jan 14 d0 2014008 20 Jan 14 22 Jan 14 23 Jan 14 28 Jan 14 16 Jan 14 D 2014009 21 Jan 14 23 Jan 14 24 Jan 14 29 Jan 14 17 Jan 14 D 2014010 22 Jan 14 24 Jan 14 27 Jan 14 30 Jan 14 20 Jan 14 D 2014011 23 Jan 14 27 Jan 14 28 Jan 14 31 Jan 14 39 41 Registered Office 1st Floor Akruti Corporate Park Near G E Garden LBS Road Kanjurmarg West M
21. an also be done by the member to avail pre expiry margin benefit during last five days of Contract Expiry 11 2 The applicable rules of the EPI are explained as below v v Early Pay in of Agri commodities prior to expiry will get exemption from the applicable pre expiry margins For availing the exemption Members may make Early pay in from one day prior to the day when pre expiry margins are applicable The outstanding position would be exempt from the applicable pre expiry margins to the extent of early pay in made and after the Early pay in information is processed at the end of day However all other margins viz initial margins exposure margins additional and special margins unless otherwise specified will continue to be levied on these positions The Early pay ins received up to 4 30 p m on weekdays and up to 12 00 noon on Saturday will only be processed for giving exemption from pre expiry margins for next day Members should have open position in the commodity for which early pay in is made The Early pay in should be made for a valid lot for the settlement Mark to Market MTM settlement will continue to be done for the outstanding positions for which Early pay in has been given before expiry The pre expiry margin shall be applied by the system in the normal course and the benefit of exemption of pre expiry margins will be extended The said exemption of pre expiry margin shall be reversed at the expiry of
22. ansparent Members are requested to go through this handbook and educate themselves the process followed by the Exchange in physical deliveries In case any further clarifications are required members are free to approach the customer service group This book includes the latest developments and the existing processes to be followed by the depositor and the buyer while dealing with physical commodities through the Exchange delivery process with the approved warehouses and other service providers of National Commodity amp Derivatives Exchange Limited We express our gratitude to all those who responded to our call for feedback offering valuable suggestions Care has been taken to incorporate most of them thereby making the book more valuable 2 41 Registered Office 1st floor Akruti Corporate Park Near G E Garden LBS Road Kanjurmarg West Mumbai 400 078 India Phone 91 22 6640 6789 Fax 91 22 6640 6899 Website www ncdex com NCDEX TABLE OF CONTENTS i IntroducelOn to COM TRACK Ate esa ee no et 5 2 COMTRACKS Account Opening oooo amp oocoWo cococo coW oco W ocoWo cc c WcocWo Wo Wo Wo oo o o o 5 2 1 Type of COMTRACK accountS ooocooccoocococoW oo Woo W c o o Wo co W coWo o oom 5 COMTRACKS Beneficiary ACCOUN Ls beb nana 5 COMTRACK Pool AC COUR Ea ta en ee nana ae oi aa sa 5 2 2 Points to be considered while selecting a COMTRACK Participant CP Loco 5 2 3 Procedure for opening a COMTRACK
23. bers place orders by giving instructions to the Exchange for closing out their positions on their behalf through fax on the designated fax numbers of the Market watch group of the Exchange To facilitate the members to send order entries the Exchange has modified the procedures for accepting such order entries A new feature in the NCFE software allows the members to input the order requests for squaring up their positions The squaring up order requests is uploaded into the extranet server in the specific folder On receipt of this file the Exchange Operations group of the Exchange initiates the process for squaring up However it should be noted that in such cases the Exchange would not in any way be liable for any change in market movements or prices or responsible for any losses occurring to the Members and or their clients 14 Unique Client Code All members should allot and maintain the Client ID Nos along with personal details of clients They should also fill the Know Your Client form stipulated by the Exchange With a view to strengthen the database of clients of its members a unique identity number UCC is allotted to each client All trading and clearing members should collect and maintain in their back office information for each of their clients Members can collect copy of identity proof viz PAN Card Passport driving license or a copy of Voter ID card for an individual If partnership firm companies is a client then the uni
24. d Office 1st floor Akruti Corporate Park Near G E Garden LBS Road Kanjurmarg West Mumbai 400 078 India Phone 91 22 6640 6789 Fax 91 22 6640 6899 Website www ncdex com 8 41 NCDEX lt S Grade allotted S Quantity as weighed in at the warehouse less allowance for spillage etc if any v Validity Revalidation date Y Quantity v Final Expiry date FED The Lot number of each commodity along with its specific details is uniquely represented The client can also check the grade allotted from the lot descriptor on the NCDEX website v If there is any discrepancy in the grade allocation as per the credit balance the client should immediately contact the warehouse v For the difference in grades of the commodities there are premiums and discounts hence the confirmation of the correct grade is critical v The client has to ensure that validity date as specified is after the settlement date in which he intends to deliver this would enable him to deliver the commodity on the Exchange on the settlement date for which he intends to deliver All commodities when deposited for the first time will have a final expiry date which may be different than validity date The expiry date will be the period till which the commodity can be revalidated This is the maximum time the commodity can go for revalidations After this period the commodity needs to be compulsorily taken out of the warehouse However it should be not
25. d sales tax module is available at Common Web NCFE folder on Extranet Further please refer circular no NCDEX CLEARING 016 2013 204 dated June 18 2013 amp NCDEX CLEARING 002 2014 003 dated January 06 2014 for further details 15 4 Terms and conditions and procedure for settling through agents Receiving or giving delivery of commodities through authorized agents is an accepted practice in commodities markets The Exchange also allows its Members to settle their trades upon expiry of contracts through authorized agents The procedure for settling through agents is given below 1 The Constituents may appoint Agents on the terms and conditions as they deem appropriate The Constituents shall be responsible for the acts of their Agents under the Rules Bye Laws and Regulations of the Exchange 2 The Constituents through their clearing Members must inform the Exchange of their desire to complete the delivery through an Agent by 5 PM on next working day after Expiry of Contracts 3 The constituent intending to avail the services of an Agent will have to give an authority letter to the Agent authorizing him to give or take as the case may be the delivery of commodities on his behalf in accordance with the process and procedure prescribed by the Exchange 4 It will be the obligation of Members to obtain written confirmations from their Constituents regarding giving receiving delivery to the specific Agent s appointed by their Constitu
26. e Exchange v 1 0 component of the penalty shall go to the Seller who was supposed to give delivery and Registered Office 1st floor Akruti Corporate Park Near G E Garden LBS Road Kanjurmarg West Mumbai 400 078 India Phone 91 22 6640 6789 Fax 91 22 6640 6899 Website www ncdex com 19 41 E NCDEX v Balance 0 25 component of penalty shall be retained by the Exchange towards administrative expenses v The difference between the Final Settlement Price FSP and the average of three lowest of the last spot prices of 8 Eight succeeding days after the expiry of contract T 1 to T 8 days if the average spot price so determined is lower than FSP will also be charged from the buyer For Intention Matching amp Seller s Right Contract Total amount of penalty 2 5 the difference between the Final Settlement Price FSP and the spot price prevailing on the last day of pay in pay out of the expired contract if the said spot price is higher than FSP else this component will be zero The 2 5 penalty collected as mentioned above shall be used as follows v 2 component of the penalty shall be deposited in the Investor Protection Fund of the Exchange v 0 5 component of the penalty shall go to the opposite party and v If the spot price on the last day of pay in pay out of the expired contract is higher than the FSP then the difference between the FSP and the spot price prevailing on th
27. e said latter day shall also go to the opposite party Please refer circular no NCDEX TRADING 091 2007 235 dated October 4 2007 amp NCDEX TRADING 097 2007 247 dated October 17 2007 The buyers under no circumstances can refuse delivery If the buyer defaults penalty at the rate of 0 09 per day computed on the amount outstanding from the day on which monies are due to be paid until the day all obligation including shortfalls in deposits are fulfilled Subject to minimum of Rs 500 per instance During the Tender period if any delivery is tendered by seller the corresponding buyer having open position and matched as per process put in place by the Exchange shall be bound to settle by taking delivery from the delivery center where the seller has delivered same A seller who has got requisite stocks in the Exchange accredited warehouses is not allowed to default and any such delivery default by seller would be viewed seriously and the Exchange shall take suitable penal disciplinary action against such members over and above the prescribed penalty as enumerated above Clearing and settlement of contracts will commence with the commencement of Tender Period by compulsory delivery of each open position tendered by 20 41 Registered Office 1st floor Akruti Corporate Park Near G E Garden LBS Road Kanjurmarg West Mumbai 400 078 India Phone 91 22 6640 6789 Fax 91 22 6640 6899 Website www ncdex com NCDEX the seller on
28. e so determined is higher than FSP else this component will be zero The 3 0 penalty collected as mentioned above shall be used as follows v 1 75 component of the penalty shall be deposited in the Investor Protection Fund of the Exchange v 1 component of the penalty shall go to the Buyer who was entitled to receive delivery and v Balance 0 25 component of penalty shall be retained by the Exchange towards administrative expenses Further the difference between the FSP and the average spot price as mentioned above shall also go to the buyers Please refer circular no NCDEX TRADING 086 2008 216dated September 16 2008 Registered Office 1st floor Akruti Corporate Park Near G E Garden LBS Road Kanjurmarg West Mumbai 400 078 India Phone 91 22 6640 6789 Fax 91 22 6640 6899 Website www ncdex com 18 41 NCDEX Penalty structure for Chana Pepper Rape Mustard Seed and Cotton Seed is as follows Total amount of penalty 1 5 the difference between the Final Settlement Price FSP and the average of three highest of the last spot prices of 5 five succeeding days after the expiry of contract E 1 to E 5 days if the average spot price so determined is higher than FSP else this component will be zero The 1 5 penalty collected as mentioned above shall be used as follows Y 0 75 component of the penalty shall be deposited in the Investor Protection Fund of the Exchange v 0 5 component of
29. ecification assayer enters the NCDEX quality grade and confirms Else NON NCDEX grade is given for rejected lots Subsequently the same is transmitted back to the warehouse for verification of the data entered by the assayer with the hard copy of the report After the warehouse verifies the data entered in COMTRACK are correct it initiates a process of electronic credit in the CMSe account of the client Criteria for lots to be transferred from CMS P account to CMS E account is that lots should possess NCDEX quality grade and quantity of the lot should be within the tolerable range of Quantity Variation as specified in Contract Specifications The client could check with its COMTRACK Participant for the credit in its COMTRACK account and also request for a Holding Transaction Statement which will reflect the balances in the COMTRACK account of the client Normally the gap between the time of deposit of the commodity at the warehouse and the credit in the COMTRACK account is expected to be within 7 days if the electronic balance is not reflected within this time frame the Exchange may please be informed immediately for corrective action Kindly contact NCDEX customer service group at 022 66406613 6615 or e mail at askus ncdex com The following are the important points to note in the Holding Transaction Statement received from the CP v Name of account holder v Lot number v Description of the commodity deposited Registere
30. ecuted Clients desirous on delivering on the Exchange platform should ensure that CM TM Trading Member amp Trading client ID are mapped with their COMTRACK account The COMTRACK Participant will open the client account and inform the client accordingly The COMTRACK account can be operated by the holder owner of the COMTRACK account if it is in single name or by joint holders if it is in joint names In case of Corporates Firms HUF Trusts etc authorized officials will operate the account They will have to submit the Board Resolution Memorandum and Articles of Association Bye Laws Trust Deed as the case may be and such other enabling documents as may be required by the COMTRACK Participants On opening of a client s beneficiary account in COMTRACK an email would be sent to the clients containing their user id and password for accessing the system The client can access the system to view and print their holding statement transaction statement and Client Master details Clients can also view the pending Remat status client details screen amp user manual 3 Process of commodity deposit and credit in the COMTRACK account Please note that credit balance in the account or any statement is NOT a Negotiable Warehouse Receipt Deliveries on the Exchange platform for all major commodities are possible only in the electronic form The client desirous of delivering commodities on NCDEX platform should arrange to m
31. ed Such Buyers will be bound to take delivery However on the day of expiry while allocating the deliveries preference would be given to those buyers who have submitted buy requests Compulsory delivery Contracts All Sellers amp Buyers with open position on expiry of the contract will have to tender receive delivery on the Exchange Registered Office 1st floor Akruti Corporate Park Near G E Garden LBS Road Kanjurmarg West Mumbai 400 078 India Phone 91 22 6640 6789 Fax 91 22 6640 6899 Website www ncdex com 16 41 NCDEX Delivery information In order to allocate deliveries from the preferred location for clients in an optimum manner the Members shall give delivery information for preferred location Submission of delivery intention Members should submit specific delivery requests for their clients for preferred delivery centers base location additional delivery centers by invoking the delivery request window on the trading front end Default location Members who do not submit the preference for the default location shall be allocated delivery in the base location specified for the commodity Matching Matching of preferred locations submitted by the buyer Members will be done to the maximum possible extent If the Member does not give any delivery request for that expiry the one time location preference given by the Member in the commodity will be considered while matching In case of mismatches
32. ed that the expiry date is just an indicative date and there is no mandatory requirement for the assayer to extend the validity even if it has not reached the expiry date v Client should always check both validity date and final expiry date in the Lot s before delivering the same on the Exchange platform v Lot which has valid FED but validity date is over the same cannot be delivered unless the validity date is extended by doing revalidation v Thus validity date and FED date of lot s should be beyond the expiry date of the month in which the client intends to deliver 4 Process of revalidation of Lot s 4 1 Concept of validity date and need for revalidation All commodities particularly agricultural commodities have a shelf life and cannot be indefinitely stored The concept of validity date has therefore been introduced wherein the NCDEX approved quality testing agency for the respective commodity and Registered Office 1st floor Akruti Corporate Park Near G E Garden LBS Road Kanjurmarg West Mumbai 400 078 India Phone 91 22 6640 6789 Fax 91 22 6640 6899 Website www ncdex com 9 41 4 2 4 3 NCDEX warehouse provides a date known as validity date up to which the commodity stored in the warehouse is expected to retain the properties quality specifications confirmed at the time of deposit at the warehouse Information on the validity date can be obtained from the holding statement issued by the COMTR
33. edure for exchange of Physical Delivery Jaa 29 No Ot an en be nana anna aa Rai 29 15 4 Terms and conditions and procedure for settling through agGents cccceseeeeeeeeeees 31 15 5 Sales tax Ona be a a one RAbY 33 15 6 NCDEX transactions are ro 33 15 7 Implications of unregistered buyer amp seller oooco oo 33 15 8 Payment of Mandi Tax and non furnishing receipt of Mandi related 33 GOCUIMGINES an me an OB ARTA nano Nan 33 15 9 Excise information and its significance ccoccccococ coco 34 do Pare Cet ent T ee 35 15 11 Customs duty and its significance o coco oo coco 35 Buver Pays the CUSTOMS DULY ena aa ian ARA 35 Seller pays the Customs Duty cococcoc c oo cc oc ococ coco W ccoc o c ccc o JmJc Jm 35 15 12 Registration for specific commoditieS cococcocccccccooc coc cccc cc coccoom coooom o 36 Format of Settlement Calendar ccccccccssseccesecceceeucueeeeseeeeeeeuegeeeeeeeeeeeentnsseeggggueeenneres 37 4 41 Registered Office 1 floor Akruti Corporate Park Near G E Garden LBS Road Kanjurmarg West Mumbai 400 078 India Phone 91 22 6640 6789 Fax 91 22 6640 6899 Website www ncdex com E NCDEX i 1 Introduction to COMTRACK COMTRACK is a one point contact which brings all entities like Investors Warehouses Assayers COMTRACK Participants CPs Clearing Members CMs and the Exchange involved in the Physical Settl
34. ement process of Commodities on one common electronic platform Through COMTRACK Exchange will be able to monitor the activities of all service providers from the date of deposit and till the time the members get electronic credit This will enable the Exchange to take corrective action immediately if the electronic credit process is held up at any stage 2 COMTRACK Account Opening It is mandatory to open an account in COMTRACK with any of the listed COMTRACK Participant for receiving and tendering commodities trading through NCDEX system since the pay out would be received in the designated COMTRACK account only The COMTRACK account is required to account for the commodity balances representing the commodities lying at the Exchange approved warehouses vaults 2 1 Type of COMTRACK accounts The accounts can be classified as e COMTRACK Beneficiary account e COMTRACK Pool account COMTRACK Beneficiary Account A beneficiary account is an account in the name of an individual single or jointly Such an account could also be in the name of a Corporate a partnership firm trust HUF This account is to be opened with an empanelled Comtrack Participant of the Exchange and is used for transacting in commodity balances held by the account holder at Exchange approved warehouses COMTRACK Pool Account A member pool account is an account opened by the Exchange for all Clearing Members of NCDEX This account is opened to
35. ents 5 The Agent so appointed should have opened commodity account as required under the Regulation for affecting delivery of commodities on the Exchange platform and the Constituent will route his receipts delivery only through the account of the Agent so appointed by him 31 41 Registered Office 1st floor Akruti Corporate Park Near G E Garden LBS Road Kanjurmarg West Mumbai 400 078 India Phone 91 22 6640 6789 Fax 91 22 6640 6899 Website www ncdex com NCDEX 6 Invoice will be raised by and or in the name of the Agent giving the details of the Constituents for whom the invoice being issued raised 7 Sales tax and other statutory charges relating to the transactions will be settled by and in the name of the Agent 8 Members shall provide Sales Tax information for Agent instead of Constituent and the same shall match as per the request submitted to the Exchange 9 The delivery of commodities to the Agent and receipt of commodities from the Agent instead of respective Constituents if proper in other respects Shall be deemed to be a compliance of delivery obligation under the Regulations 10 It is to be noted that such arrangements are exclusively between the Members their Constituents and the Agent The Exchange merely permits settlement obligations by giving receiving delivery of commodities through the respective Agents as communicated to the Exchange through Members The Exchange is not responsible for an
36. facilitate the pay in and pay out process of the Exchange The Exchange has opened Pool accounts of all its existing CMs in Comtrack and new accounts are opened as and when a new CM is activated Pool accounts are not linked to any CP 2 2 Points to be considered while selecting a COMTRACK Participant CP e Convenience i e proximity to office residence Service standards i e Executing instructions and providing holding amp transaction statements on time e Proficiency i e well versed with Commodity Exchange operations Confidentiality and comfort level e Cost i e service and transaction charges levied by the COMTRACK Participant Registered Office 1st floor Akruti Corporate Park Near G E Garden LBS Road Kanjurmarg West Mumbai 400 078 India Phone 91 22 6640 6789 Fax 91 22 6640 6899 Website www ncdex com i NCDEX 2 3 Procedure for opening a COMTRACK Account Fill up the account opening form sample beneficiary account opening form is displayed on the COMTRACK website For details on types of accounts amp documentation please refer Account Opening Manual on COMTRACK website Submit the duly filled form to the COMTRACK Participant along with the other requirements such as proof of identity and proof of address Sign the agreement with the COMTRACK Participant This has to be executed on stamp paper according to the stamp value prevailing in the state in which the agreement is being ex
37. hey can be stored in the custom bonded warehouses wherein the customs duty CVD and cess thereon can be paid at the time of moving out the commodity from such warehouses In such a case the seller pays the customs duty and cess thereon to the buyer Subsequently the buyer will have to take the goods within the ISIN validity period and shall pay the custom duty CVD and cess thereon As the Customs Duty is inclusive in the price CD will be collected from the seller and given to the buyer The CD and the CVD will be paid by the buyer at the time of taking physical delivery This CD and CVD will be payable on the Landed Cost or the FSP whichever is higher Seller pays the Customs Duty The seller paying the customs duty will also have to discharge the liability for payment of CVD CD and CVD is payable simultaneously by the importer who files the Bill of Entry Such seller will have to issue the appropriate invoice to the buyer to enable him to claim the credit for the CVD under the CENVAT Credit Rules Similarly the subsequent first stage and second stage sellers will also be entitled to pass on the credit of the CVD on their sales However for the purpose such sellers will have to obtain registration at the warehouse address in order to enable them to pass on the credit Registered Office 1st floor Akruti Corporate Park Near G E Garden LBS Road Kanjurmarg West Mumbai 400 078 India Phone 91 22 6640 6789 Fax 91 22 6640 6899 Website
38. hoose not to deliver the commodity Currently such penalty is prescribed at 0 5 Ten percent 10 of such penalty amount shall be retained by the Exchange and the balance ninety percent 90 shall paid to the buyers to whom the deliveries could not be made In case of Sellers Option amp Intention Matching contract Members are not allowed to square off their positions once delivery intentions are submitted A penalty is levied presently 5 of final settlement price on the position squared off on the Members violating this stipulation Further Members are not allowed to create fresh positions during the last five days before the expiry of the contract except in RBD Palmolein Crude Palm Oil Soybean and in some international referenceable commodities already notified vide circular no NCDEX RISK 039 2013 370 dated December 05 2013 NCDEX TRADING 060 2012 217 dated June 14 2012 and NCDEX RISK 007 2010 064 dated March 05 2010 respectively failing which penalty would be levied as prescribed by the Exchange besides any further action as deemed fit by the Exchange Members are advised not to put through trade that violates this directive v The delivery request is submitted by the Clearing Member on the Trader workstation by selecting the commodity on the Market Watch Screen and pressing the key Control F4 The following details are to be entered v Buy Sell indicator 15 41 Registered Office 1st floor Akruti Corporate Park Near
39. ill have to call the warehouse informing them of the reguest for delivery and reguesting them to keep the delivery ready Client or his agent approaches the warehouse along with following documents Original acknowledgement slip issued by the COMTRACK Participant on which WRR number is written Authority letter from the client authorizing the agent to take the physical delivery on his behalf if the client has appointed an agent to take the delivery Proof of identity of the person taking the delivery establishing his identity On receiving the above documents the warehouse will verify the authenticity with the authorization in the system Registered Office 1st floor Akruti Corporate Park Near G E Garden LBS Road Kanjurmarg West Mumbai 400 078 India Phone 91 22 6640 6789 Fax 91 22 6640 6899 Website www ncdex com 12 41 NCDEX If the authentication is successful then they will give the physical delivery In case the warehouse refuses to accept the instruction for delivery the beneficiary may contact the NCDEX customer service group for assistance The client should ensure that all warehouse storage charges are paid before taking delivery Warehouse storage charges are payable by clients to the CP only till TWH generation date and further charges would be payable directly to the WSP 6 1 Sampling before taking physical delivery Members Clients are allowed sampling of commodity stored in NCDEX approved wareho
40. in locations between Sellers and Buyers the Sellers choice of location will be given preference over that of the Buyers while allocating deliveries Intention Matching Contracts 8 4 On expiry day the Exchange matches buy amp sell requests Upon successful matching of requests w r t commodity and warehouse location the same Shall result in delivery on settlement day The process followed in case of staggered delivery is explained in the following paragraphs Tender Period Tender period for commodity is the period in which the intention to deliver receive commodity is tendered submitted Therefore assuming Tender Date as T Pay in and Pay Out shall be on T 1 2 basis i e if the tender date is T then pay in and pay out would take place on T 1 2 day If sucha T 1 2 day happens to be a Saturday a Sunday or a holiday at the Exchange clearing banks or any of the service providers Pay in and Pay out would be effected on the next working day In case of Direct Delivery Mechanism the pay in of Funds would take place on T 2 day and pay out of funds would take place on T 8 day The pay in amp pay out of commodity would be carried out between T 3 day and T 7 day If any such day happens to be a Saturday a Sunday or a holiday at the Registered Office 1st floor Akruti Corporate Park Near G E Garden LBS Road Kanjurmarg West Mumbai 400 078 India Phone 91 22 6640 6789 Fax 91 22 6640 6899 Website
41. iving delivering clearing members Receiving Delivering Clearing Members should submit delivery information within the stipulated period before the contract expiry through Trader Work Station Exchange verifies and allocates delivery requests as per open positions of respective Members as per process put in place by the Exchange After matching a report is provided to the Members for all the receipts allocated deliveries allocated against their delivery information This is a Member specific report and is generated only for those Members who have a delivery receipt position This report will be made available on the next morning of Contract expiry date In case of compulsory delivery contracts all Members will have to deliver or receive the goods as per their open positions on the expiry day depending on their choice of delivery center They will receive a report of their obligation on the next morning of Contract expiry date Receiving clearing Members are required to send sales tax information along with additional information including buying client details by 1500 Hours on next working day after Commodities Settlement day as per Settlement Calendar The data information submitted by receiving clearing Members is processed for accuracy and completeness In event of a receiving member failing to provide sales tax information within stipulated time it is assumed that delivery is taken by member himself and accordingly relevant informa
42. l account Transfer form the client should take care that the lot details have been correctly entered and the account holder have signed the form v Lot no This will be available from the COMTRACKS Holding Transaction statement Facility is available in the system for the client to enter only the no of lots he wishes to deliver In this case lots will be auto selected by the system in serial order The CP can manually remove or insert lots after this based on clients instruction Y Quantity This is the quantity mentioned against the commodity lot in the COMTRACK holding statement v Market Type and Settlement No This is made available in the circular issued by the exchange and or from the broker CP will enter the instruction in its COMTRACK Participant module and on the execution date the balances will be freezed in the client account for delivery It can also be considered as a notional transfer to members pool account The member also has to ensure that it has received all the deliveries from the clients before the pay in to the Exchange If any client fails to do Client to Pool CTP till the time of pay in it would be treated as default of the member Registered Office 1st floor Akruti Corporate Park Near G E Garden LBS Road Kanjurmarg West Mumbai 400 078 India Phone 91 22 6640 6789 Fax 91 22 6640 6899 Website www ncdex com 22 41 ie NCDEX i On the pay in day the balances will be delive
43. ll be levied and will be binding on all the clients e The warehouse will accept the commodities from the client and initiate the process for credit of electronic balance into the client s COMTRACK account 7 41 Registered Office 1st floor Akruti Corporate Park Near G E Garden LBS Road Kanjurmarg West Mumbai 400 078 India Phone 91 22 6640 6789 Fax 91 22 6640 6899 Website www ncdex com NCDEX The process of obtaining electronic credit in COMTRACK After opening a COMTRACK beneficiary account with a COMTRACK Participant a client has to approach a WSP with whom he intends to deposit the commodity for opening an account The accounts opened with COMTRACK Participant are called as CMS E account and with a WSP are called as CMS P account Both accounts are internally mapped by the concerned WSP A fresh deposit will be entered by the WSP in the CMS P account of the client and will be eventually transferred to the CMS E account of the client based on the mapping done by the WSP on instructions of the client On receipt of CDF from the client Duly filled and signed at the time of deposit warehouse enters the required details in COMTRACK and a lot s are generated Each lot s is identified by a unique lot number s The lot details will be transmitted to the concerned assayer for their confirmation of acceptance rejection If the commodity adheres to the quality parameters as mentioned in the respective Contract Sp
44. odities from the warehouse The beneficiary client makes a withdrawal request in the prescribed form Transfer Request Form to the COMTRACK Participant CP with whom the COMTRACK account is being held and should follow the process for withdrawal as explained in the subsequent chapters Such commodities in respect of which the approved assayers report fails to confirm the quality specifications of the Exchange or the expiry of the commodity is over shall not be considered as valid delivery for trades on the Exchange platform Registered Office 1st floor Akruti Corporate Park Near G E Garden LBS Road Kanjurmarg West Mumbai 400 078 India Phone 91 22 6640 6789 Fax 91 22 6640 6899 Website www ncdex com 10 41 5 1 NCDEX Process of Pledging Funding Pledge This facility is available to clients who intend to pledge their lots for availing finance from Institutions approved by the Exchange A client has to choose an institution from the list available on the Exchange website and finalize the terms and conditions before initiating the pledge through a CP Pledging is available for those lots which are in the CMS E account of the client Pledge Creation process v CP on behalf of client initiates pledge request in COMTRACK and select the lots to be pledged v On successful submission Transaction Submitted Successfully message will be displayed on the screen and v Pledge transaction status will reflect as
45. orities and Exchange also may impose penalties Similarly if the buyer is not registered or does not use settlement agent he has to pay the applicable sales tax and the sales tax paid on his purchase becomes irrecoverable for him at the time of subsequent sales by him In addition his subsequent sale transaction will again attract the sales tax even if he makes a sale of a commodity on which tax has been paid Besides such purchaser may be liable to penalties under the State sales laws Payment of Mandi Tax and non furnishing receipt of Mandi related documents The member client giving taking physical deliveries in agricultural commodities are required to be registered with the respective local Mandi under the applicable APMC law The Exchange receives queries regarding the non receipt of mandi tax paid certificate documents Mandi s across India have specified different procedures for payment of these Mandi taxes and issuance of receipt for the same The members and their constituents giving delivering should be Registered Office 1st floor Akruti Corporate Park Near G E Garden LBS Road Kanjurmarg West Mumbai 400 078 India Phone 91 22 6640 6789 Fax 91 22 6640 6899 Website www ncdex com 33 41 15 9 NCDEX conversant with relevant rules and be aware of all the documents required under the respective enactments of Mandi authorities in the physical settlement process The members clients are supposed to make payment
46. ove the commodities to a warehouse which has been approved by NCDEX The list of all approved warehouses by NCDEX along with their contact details and indicative charges is given on web site www ncdex comon the home page under the heading Clearing Services D Others Registered Office 1st floor Akruti Corporate Park Near G E Garden LBS Road Kanjurmarg West Mumbai 400 078 India Phone 91 22 6640 6789 Fax 91 22 6640 6899 Website www ncdex com 6 41 NCDEX e The Exchange keeps this list updated for each commodity from time to time e Clients should contact the warehouse in advance for availability of space before initiating any process for deposit and send the delivery schedules to the warehouse in which he is intending to deposit through COMTRACK e The client should get the assaying done for the quality of the commodities from the assayer appointed by warehouse and approved by NCDEX Their contact details are provided on the Exchange website www ncdex comon the home page under the heading Clearing Services D Others e At the time of deposit client has to give the CDF Commodity Deposit Form duly filled up and signed to the warehouse 3 1 While filling up the Commodity Deposit Form the client has to ensure the following e Fill up all the details in the form i e name commodity being deposited quantity of the commodity details of the COMTRACK account etc e The quality of commodities being lodged
47. pending Role of Pledge Administrator The Pledge Administrator will have the authority to approve or reject a pledge request The rejection of a pledge request would be with a rejection reason Role of Pledgee v Once approved by the Pledge Administrator the pledgee maker shall enter the Loan Validity Date and Loan Amount Loan amount should be less than the Market Value and other relevant details v The pledgee maker shall then approve the workflow v Pledgee Checker shall check the details and documentation and then approve the pledge transaction v On successful submission Transaction Submitted Successfully message will be displayed on the screen Transaction Status will reflect as Completed Click on Generate Receipt E Pledge Receipt will be generated and would be handed over to the client KAS Pledge Redemption Process Flow v The Pledgee maker selects the lots pledge for redemption and fills up all the mandatory fields v The Pledgee maker enters the loan amount received and selects lots to be redeemed v The Pledgee checker click on Approve Reject Discard v The transaction Status will reflect as Completed if approved and the lots will be in free status in borrower s account Registered Office 1st floor Akruti Corporate Park Near G E Garden LBS Road Kanjurmarg West Mumbai 400 078 India Phone 91 22 6640 6789 Fax 91 22 6640 6899 Website www ncdex com 11 41 NCDEX Pledge Confiscate Proce
48. plying with the requirements of Mandi tax provisions of the respective States where deliveries happen Excise information and its significance Any person offering physical delivery of commodities where Excise duty benefit would be availed by the buyer should have necessary registration with the Excise authorities under relevant provisions of Central Excise Act 1944 in order to pass on the CENVAT credit to the buyer As per prevailing laws on central excise only the manufacturer first stage dealer and second Stage dealer who are registered under the Act can charge or claim credit of central excise paid by the manufacturer on such goods This can be done by issuance of Excise Invoice by the manufacturer or first stage dealer showing the amount of central excise paid In case where the price quoted for trades in such commodities on the Exchange is exclusive of central excise Only manufacturers and first stage dealers registered under the Act will be able to claim central excise amount from the subsequent buyer provided they are in a position to pass on the CENVAT credit The buyer will have to be either first stage dealer or second stage dealer duly registered under the Act in order to claim credit under CENVAT Members or their constituents who have to give or take delivery must be registered with the Central Excise authorities apart from being registered Registered Office 1st floor Akruti Corporate Park Near G E Garden LBS Road Kanjurma
49. que registration number along with copy of PAN Card needs to be collected 15 Sales Tax Settlement Process 15 1 Sales tax information and its significance e Any person offering a physical delivery on the Exchange platform should have necessary registration with the local sales tax authorities in the state where the delivery center is located or shall deliver through a settlement agent who has necessary registration e However in case of select commodities wherein exemption is available for the purchasers from the payment of sales tax to avail such exemption they also need to have registration with local tax authorities or shall avail the services of the settlement agent as stated above for settling their purchase transactions e In such a case the purchaser need to give details of such exemptions being availed by them in requisite form and within the time specified failing which relevant tax is levied 27 41 Registered Office 1st floor Akruti Corporate Park Near G E Garden LBS Road Kanjurmarg West Mumbai 400 078 India Phone 91 22 6640 6789 Fax 91 22 6640 6899 Website www ncdex com ie 15 2 NCDEX In case of Sellers who are empanelled under the composite scheme for Bullion in that State whereby they deposit a composite amount in lieu of tax on purchase and sale of Bullion such sellers are not entitled to recover Sales Tax at the time of sale from their respective buyers General guidelines for rece
50. re ni nen ani real eani ai readn rank oran ana aan Rana MAKAR REA 21 oa na Re Anne 21 10 Process of GEll Very lea aka nana 22 10 1 OUSIITY and delivery IOUS aa ia 22 10 2 Delivery PrOCOSS arena hah 22 10 3 Pay in process at COMUaACK ea ab a Rn bkan 23 10 4 Delivery mechanism Direct Delivery Sellers Warehouse Model coc 23 11 Early Paysin PrOCeSS kombi nana isa nana ta isa akan sem beng sam naa AR Ri LN SARA 25 Id Time OF Say Pa nii 25 11 2 The applicable rules of the EPI are explained as belOW oo occ o WWW Wo 25 11 3 Merits of early pay in EPI moms oke aa 26 11 4 Early Pay in process in COMTRACK using NCFE ooocoocoococ oo oo Woo Woo oo 26 12 Physical Delivery Settlement Charges co amp c oo oco oc oo o W W co cooooooo 26 13 NCDEX Clearing Front End Software N C FE anna 26 14 Unigue Client COGS nii nantotn ek aan anne seenak aman miseotstegaentndntsandstotaredatetawed 27 15 Sales Tax Settlement ProceSS ccococo ocococ coc ococococ Wo oc ococ coco o W Wo o ocooooooo 27 3 41 Registered Office 1st floor Akruti Corporate Park Near G E Garden LBS Road Kanjurmarg West Mumbai 400 078 India Phone 91 22 6640 6789 Fax 91 22 6640 6899 Website www ncdex com amp NG NCDEX 15 1 Sales tax information and its SIGNIFICANCE aan 27 15 2 General guidelines for receiving delivering clearing members Laka 28 15 3 Sales tax settlement Proc
51. receipt of invoices or any settlement related document or other required information to the Exchange by T E 9 day PORTION OF PAYOUT WITHHELD BY EXCHANGE Exchange will hold an amount equivalent to 10 of the delivery pay out which Shall be released to the delivering Clearing Member on T E 10 working days after satisfactory compliances of obligations stated above by the delivering Clearing Member its Constituents subject to appropriation of late fee penalties charges etc if any as mentioned below In the event of any intimation of discrepancy in the information or documents provided or non receipt of the information documents by the Buyer raised by corresponding receiving Clearing Member the amount so withheld shall not be released till the matter is resolved Registered Office 1st floor Akruti Corporate Park Near G E Garden LBS Road Kanjurmarg West Mumbai 400 078 India Phone 91 22 6640 6789 Fax 91 22 6640 6899 Website www ncdex com 30 41 E NCDEX LATE FEE BUYER SELLER ACTIVITY TIMELINE LATE FEE FO excluding NONADHERANCE Saturday and Sunday Seller Uploading of invoices Rs 5000 per day pe ad and other relevant and invoice from T E 6 applicable documents Seller Discrepancies in A late fee of 0 10 of invoice documents or the delivery value or non receipt of Rs 5 000 whichever documents by buyer is higher for each invoice will be charged per day A help manual for using the Web base
52. red to the Exchange and on pay out will be given to the buying brokers pool account The procedure of normal and early pay in is mentioned in the subsequent chapters 10 3 Pay in process at Comtrack Client needs to give an instruction to his CP through Instruction Slip for Client To Pool Ownership Transfer which is available on www comtrack in under Downloads Accordingly CM has to ensure that the balances are available in the pool account at the time of pay in otherwise it would be treated as default CM needs to communicate settlement date to all his clients so as to ensure that all lots are moved to his CM Pool A c before settlement date If the balances are not available in the CM Pool account at the time of pay in it will be treated as default On a scheduled settlement date Comtrack will provide a balances file to NCFE having lot wise balances for each Clearing Member Pool Account CM Pool A c NCFE based on settlement obligation of a given Clearing Member CMID will generate a response to Comtrack to affect commodity pay in which will be later credited to respective buyers CM Pool A c If the commodity received in any settlement is required to be delivered towards the next settlement the CM needs to transfer the swept out lots available in his pool account to client s Beneficiary account and then Client needs to give instruction to his CP for transferring the said lots in Member s Pool account The lots with
53. rg West Mumbai 400 078 India Phone 91 22 6640 6789 Fax 91 22 6640 6899 Website www ncdex com 34 41 15 10 15 11 NCDEX under Sales Tax Value Added Tax The seller will issue his Excise Invoice to the buyer mentioning therein the Excise credit passed to the buyer In case where the price quoted for trades in such commodities on the Exchange is inclusive of central excise In such a case where the Excise duty is not explicitly mentioned it is assumed that the price is inclusive of Excise duty and no supplementary settlement is done for the same Purchase tax Wherever Purchase tax is applicable concerned buyers will have to get themselves registered and pay the purchase tax on their own However such Purchase tax can be recovered in his subsequent sale on the NCDEX platform in cases where the final settlement price excludes all taxes on sales as well as on purchases which he will claim as other charges In such a case he will have to issue a tax paid invoice Customs duty and its significance Customs duty is payable on all imported commodities in addition to Countervailing duty and the cess thereon is also applicable All of these are to be paid simultaneously If the price quoted on the exchange is inclusive of customs duty and exclusive of Countervailing Duty CVD and cess the process as defined by the Exchange can take place under following cases Buyer pays the Customs Duty In case of imported materials t
54. rmed location according to the delivery schedule and will conduct assaying of goods Assayer will upload the report of quality and quantity of goods and accordingly accept reject the goods as per exchange specified quality norms Seller will give invoice to the buyer along with delivery of goods Seller amp Buyer or their representatives have an option to supervise the assaying process Assayer will give final confirmation for delivery The entire process needs to be completed by EOD of T 7 All risk and costs associated with storage of goods in the buyer s WH for the entire duration of assaying i e till the time settlement is completed would be borne by the Buyer T 8 Case 1 the goods are accepted v v Pay out to seller Tax details will be passed on to Seller to be updated Case 2 the goods are rejected v Registered Office 1st floor Akruti Corporate Park Near G E Garden LBS Road Kanjurmarg West Mumbai 400 078 India Phone 91 22 6640 6789 Fax 91 22 6640 6899 Seller will be given 2 days to lift the rejected lots from buyer s location after which Funds will be paid back to buyer Website www ncdex com 24 1 41 NCDEX v Buyer would also receive penalty T 9 Settlement of Taxes 11 Early Pay in Process 11 1 Time of early pay in v v EPI can be done by the Member to avail delivery margin benefit for their delivery intention given during staggered period EPI c
55. s If the buyer has availed exemption for payment of tax against the declaration exemption form he needs to forward the same to the seller within 5 working days from the tender expiry date In case of default the buyer buying Member may formally approach the Exchange for intervention for compliance by the parties NCDEX transactions are LST As per the settlement process the seller and the buyer are deemed to have given and taken deliveries at the delivery center i e warehouse approved by the Exchange and the sales tax applicable in the State where the delivery center is located is applicable in the absence of any interstate movement of commodities it is considered as a local sale and thus does not attract any CST In case the buyer opts for moving the commodity to a place outside the state of delivery the all necessary formalities are to be completed by the buyer on his own including payment of additional tax Implications of unregistered buyer amp seller As mentioned above unless the parties avail the services of a settlement agent any delivery based transactions will have additional burden of sales tax on them The purchase from an unregistered seller makes the buyer liable for payment of sales tax Therefore the Exchange does not allow an unregistered seller to make any delivery based transactions In such cases the seller needs to make good the losses suffered by the buyer including the penalty levied by the sales tax auth
56. ss Flow v v v v v The Pledgee maker selects the lots to be confiscated The Pledgee maker fill up all the mandatory fields and selects the to Client ID and clicks the validation tab The Pledgee maker selects lots to be confiscated and submits the reguest The Pledgee checker can approve or reject the reguest If approved the Pledgee checker would confirm the details and the lots would be transferred to the confiscated COMTRACK account and Pledgee may take any action as deemed fit 5 2 Exposure Pledge Stock Holding Corporation of India is the sole custodian providing pledge services towards exposure taken on the Exchange platform All members desirous of availing these services can contact SHCIL for the same Process of withdrawal of lots As and when the client wants to take the physical delivery of the commodities he can do so by making a request in prescribed form to the COMTRACK Participant with whom he holds his COMTRACK account v v Client fills in the TRF and hands it over to the COMTRACKS Participant COMTRACKS Participant verifies the signature of the client and the lot numbers mentioned in the form with the holdings in the COMTRACKS electronic account and keys in all the information to generate the Transfer Request Number TWH COMTRACKS Participant gives the acknowledgement copy of the WRR to the client and the delivery instruction is electronically transmitted to the warehouse Client or his agent w
57. status swept out will not be considered for Early pay in amp normal pay in obligation Pool to Client PTC will be done by the member in his module in COMTRACK 10 4 Delivery mechanism Direct Delivery Sellers Warehouse Model Process Flow of Direct Delivery T E to T E 9T E Tender Expiry date Seller will mark an intention for his open position In case delivery intention is not marked by Seller on expiry it shall be treated as Sellers Default and the positions are settled on E 1 with penalty on Seller T E 1 v Assayers would be randomly allocated by the system to the respective buyer and would be done by 12 00 AM 23 41 Registered Office 1st floor Akruti Corporate Park Near G E Garden LBS Road Kanjurmarg West Mumbai 400 078 India Phone 91 22 6640 6789 Fax 91 22 6640 6899 Website www ncdex com NCDEX v The details of allocation displayed to buyers and sellers so that required information can be updated T E 2 v Pay in of funds from Buyer Y Buyer will give details of delivery location amp necessary details for tax settlement within 50 km radius T E 3 to T E 7 v v Seller will deliver the goods at the buyer s informed location Depending on the total allocated guantity Assayer will inform both the buyer and seller of the delivery schedule so that the assaying results are available to Exchange latest by EOD on T 7 Assayer will be present at buyer s info
58. tion is provided to delivering members concerned and the invoices will be raised in the name of the receiving Member As no changes are possible once the file is uploaded Members Should ensure that correct details are provided while uploading the file for Delivering Clearing Members Information submitted by the receiving clearing Members is provided to the Delivering clearing Members seeking the sales tax information for each delivery transaction The buyer client details and sales tax information viz exemption form numbers if any as provided in the report can be passed on by the Delivering clearing Member to their Seller clients for generating invoices Exchange shall provide this report to Delivering clearing Members by the evening on next working day after Commodities Settlement day as per Settlement Calendar A return file is generated and sent to the delivery clearing Members to inform the status of sales tax reporting Registered Office 1st floor Akruti Corporate Park Near G E Garden LBS Road Kanjurmarg West Mumbai 400 078 India Phone 91 22 6640 6789 Fax 91 22 6640 6899 Website www ncdex com 28 41 NCDEX e The Delivering clearing Members are required to provide the information by 1500 Hours on or before 2 working day except Saturday after the commodity settlement day e Based on the sales tax information submitted by the Delivering clearing Member sales tax settlement obligation is determined Sales tax se
59. ttlement of funds shall be completed by 11 00 am on 3 working day after Commodities Settlement day as per Settlement Calendar e In the event of delivering member failing to submit sales tax information it is assumed that there is no sales tax settlement to be carried out for deliveries made by him e Delivering clearing Members are required to ensure that Sales Tax amount Submitted to the Exchange complies with applicable State Sales Tax laws If a Member needs to collect Sales Tax and or Other charges and or Resale Tax they need to submit a single amount for settlement purpose however the Invoice sent to Buyer shall have all different amounts indicated clearly The sales tax invoice should clearly mention besides other things e Delivery receipt no Client name amp address e Trading member id of the seller member and buyer member Whether Composite Tax scheme availed e If the seller fails to give these details or informs lesser amount than the actual sales tax then the amount or short amount of sales tax as the case may be cannot be recovered from the buyer However the liability for the payment of sales tax to the authorities Shall continue to be on the seller irrespective of the amount he has collected from the buyer or not 15 3 Sales tax settlement Procedure for exchange of Physical Delivery information In order to simplify and strengthen the processes of tax settlement post delivery Exchange has put in place a Web N
60. umbai es C C 078 India Phone 91 22 6640 6789 Fax 91 22 6640 6899 Website www ncdex com NCDEX F gt we 17 Jan 14 2014001 22 Jan 14 24 Jan 14 27 Jan 14 30 Jan 14 18 Jan 14 2014002 22 Jan 14 24 Jan 14 27 Jan 14 30 Jan 14 20 Jan 14 2014003 23 Jan 14 27 Jan 14 28 Jan 14 31 Jan 14 31 Jan 14 2014004 05 Feb 14 07 Feb 14 10 Feb 14 13 Feb 14 20 Jan 14 K 2014001 23 Jan 14 27 Jan 14 28 Jan 14 31 Jan 14 30 Jan 14 2014001 04 Feb 14 06 Feb 14 07 Feb 14 12 Feb 14 31 Jan 14 2014002 05 Feb 14 07 Feb 14 10 Feb 14 13 Feb 14 03 Feb 14 2014003 06 Feb 14 10 Feb 14 11 Feb 14 14 Feb 14 List of Important Circulars Sr a Delivery Charges sg 07 Feb 2012 EN bol Delivery 03 May 2012 Invoice Penalty 18 June 2013 Appointment of agent for delivery settlement 18 Nov 2004 Policy on accident losses at warehouse 1 Sept 2005 e Goods in Exchange accredited warehouse Double Rent 15 Apr 2013 Penalty for failure to meet delivery obligations 05 Jun 2012 ie KYD policy for deposits of goods into WSP 03 May 2013 a Compliance of Central and State laws for delivery obligations 20 Nov 2012 a ise sees Sampling before taking physical delivery 151 249 ae 2006 29 Sept Revised settlement process for Silver SILVER 25 Nov 11 Modification in warehouse billing procedure for commodities in COMTRACK 14 Oct 2013 40 41 Registered Office 1st Floor Akruti Corporate Park Near
61. uses before taking actual physical deliveries on submission of following documents to the warehouse v Original Withdrawal Request acknowledgement slip duly signed and stamped by the holder s COMTRACK Participant CP v Authorization letter in favor of the representative taking the delivery Y Proof of Identity of the authorized representative The warehouse shall facilitate identification and sampling from one of the identifiable lots represented in the withdrawal request has been submitted by the holder authorized representative The party which draws the sample will have to compulsorily take physical delivery within 2 working days from the date on which sample is drawn failing which the warehouse will not be liable to make the delivery of the already identified lot represented under the applicable lots This facility can be exercised only once for each withdrawal request 6 2 Outbound deliveries It should be noted that due to inherent nature of agricultural commodities instances of occurrence of minor quantum of weevils insects fungus and moulds during storage in spite of the best management process adopted by warehouse keepers cannot be ruled out Exchange clarifies to the market participants that presence of minor quantum of weevils insects fungus and moulds in outbound deliveries would not be treated as bad delivery At the time of outbound delivery goods if found infested with minor quantum of live weevils insects fungus or
62. www ncdex com 17 41 8 5 NCDEX Exchange clearing banks or any of the service providers the pay in pay out would be effected on the next working day Due date Expiry date The Gold amp Silver contracts expire on the 3 of the expiry month If 3rd happens to be a Saturday or a holiday then the contract will expire on the Succeeding working day The Gold 100 grams contract shall expire on the last trading day of the month If the expiry date happens to be a holiday a Saturday or a Sunday then the due date shall be the immediately succeeding trading day of the Exchange which is other than a Saturday The remaining staggered delivery contracts shall expire on 201 day of the delivery month If 20 happens to be a holiday a Saturday or a Sunday then the due date shall be the immediately preceding trading day of the Exchange which is other than a Saturday The settlement of contracts would be by a staggered system of Pay in s and Pay out s including the Last Pay in and Pay out which would be the Final Settlement of the contract Penalty The penalty structure for failure to meet delivery obligations by the sellers is as follows For Compulsory Delivery Contracts Total amount of penalty 3 0 the difference between the Final Settlement Price FSP and the average of three highest of the last spot prices of 5 five succeeding days after the expiry of contract E 1 to E 5 days if the average spot pric
63. y disputes between the parties nor accepts any liabilities in connection with these arrangements 11 Constituents availing the services of agents need to obtain a confirmation from such agents to be appointed before the same is communicated to the Exchange 12 Before availing the service the Members and or constituents need to comply with the necessary documentation as may be suggested by such agents 13 The Members should provide the details of the agents where appointed in the sales tax information files instead of details of constituents 14 Members should ensure that subsequent to the settlement the commodities are transferred to the agents Comtrack accounts from the Members pool accounts Similarly in the course of pay in for the settlement the commodities will move to the Members pool accounts from the agents Comtrack accounts The members should also ensure that v Necessary confirmation is received from the agents before the same is communicated to the Exchange v The details of constituents are forwarded to the agents to facilitate settlement v Invoices and other relevant documents are issued within the period stipulated by the Exchange Registered Office 1st floor Akruti Corporate Park Near G E Garden LBS Road Kanjurmarg West Mumbai 400 078 India Phone 91 22 6640 6789 Fax 91 22 6640 6899 Website www ncdex com 32 41 15 5 15 6 15 7 15 8 NCDEX Sales tax obligation

COMTRACK PHYSICAL DELIVERY GUIDE V 1.2 14

Contents

Download Pdf Manuals

Related Search

Related Contents