Forward contract definition clarifies delivery obligations, ready delivery exceptions and scope of options in goods. Definitions centralise the regulatory vocabulary for commodity forward trading by specifying contractual forms and market actors. Forward contract is a contract for delivery of goods excluding ready delivery contracts; ready delivery contract provides for immediate or short term delivery and payment but is excepted where performance occurs via transfer of title documents, cash difference realisation or other means dispensing with actual delivery. The Act distinguishes specific delivery contracts (transferable and non transferable), defines option in goods, and identifies recognised/registered associations and prescribed rules as governance mechanisms.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Forward contract definition clarifies delivery obligations, ready delivery exceptions and scope of options in goods.
Definitions centralise the regulatory vocabulary for commodity forward trading by specifying contractual forms and market actors. Forward contract is a contract for delivery of goods excluding ready delivery contracts; ready delivery contract provides for immediate or short term delivery and payment but is excepted where performance occurs via transfer of title documents, cash difference realisation or other means dispensing with actual delivery. The Act distinguishes specific delivery contracts (transferable and non transferable), defines option in goods, and identifies recognised/registered associations and prescribed rules as governance mechanisms.
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