Closed Contract Agreement


In the case of a contract service or as a local bus service starting or ending at a school site, the driver must, at the beginning of each half-time, explain to all passengers the emergency evacuation procedure, inform them of the location and operation of the vehicle`s emergency exits and inform them of the availability and use of seat belts affixed to the vehicle. If the transportation of students or customers is no longer necessary as a result of a contract concluded, the Commission may at any time terminate the contract by immediate notification. Compensation Accounts (a) Each participant creates a clearing account in order to maintain their contractual positions open, their contractual positions concluded, the amounts of capital gains or losses of contracts and the corresponding margin requirements. When an open contractual position becomes a closed contractual position, a participant in such a position retains all margin obligations related to the liquidation or delivery of such a contract, in accordance with applicable contractual rules. Transfer of positions (a) The clearing house may, at its sole discretion, transfer any contractual position concluded (or, in the circumstances described in clause (a) (iv) below, an open contractual position held by a participant either in that participant`s books or (i) in that participant`s books, or (ii) on the books of such a participant.

Posted Saturday, December 5th, 2020 at 9:48 am
Filed Under Category: Uncategorized
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