Industrial & Consumer Goods

Exchange Contract

Electronic Document Management System of our Exchange (BUCE) provides high level of operational efficiency for the exchange trade along with comprehensive data protection. Participants of the exchange auctions formalize their actions with electronic documents certified by electronic digital signature (EDS).

PREPARATION AND SIGNING OF THE EXCHANGE CONTRACT

A seller and a buyer upon concluding an exchange transaction shall conclude the Exchange Contract in accordance with the terms of the transaction.
The procedures, including the Exchange Contract preparation, its signing by parties and registration by the Exchange, are carried out in the form of electronic document in the tab «Electronic Documents» of Personal Account (according to «Instruction for BUCE's customers on working with electronic documents of contracts and agreements»). Information about the exchange transaction becomes available to both parties in Personal Account the next day after its concluding.

To prepare the Exchange Contract can each party of the transaction – and not later than next calendar day after its concluding. There can be used either the contract's form recommended by the Exchange or optional one.

In case, when one of the parties formed the Exchange Contract in an optional form but the other one does not agree to sign the Contract in proposed version, the parties shall form and sign the Exchange Contract in accordance with the form recommended by the Exchange. The Exchange Contract is signed by the parties with the use of EDS within three working days after the day of its concluding.

 

THE EXCHANGE CONTRACT REGISTRATION

The Exchange Contract registration finalizes the documentation procedure of the exchange transaction. The procedure is realized through the signing of the Exchange Contract by authorized employee of the Exchange.

The registration of the Exchange Contract, formed with the use of the form recommended by the Exchange, is realized within 1 business day following the day of its signing by the last party. The registration of the Exchange Contract formed in an optional form, is realized within 3 business days.

The obligatory condition of the registration assumes the signatures authenticity of the exchange transaction parties and conformity to the essentials of the exchange transaction. Otherwise, the Exchange is empowered to cancel the registration without informing about the reasons for refusal. After elimination of the reasons for refusal, the parties of the exchange transaction shall form the Exchange Contract in new version.

The Exchange Contract registration is confirmed by a receipt, containing EDS details of the Contract parties, and authorized employee of the Exchange, which registered the Contract. In case of need, the receipt verifying the Exchange Contract concluding can be printed out.

Using Personal Account interface, the exchange auction participant can monitor activity (inactivity) of his contractor as to the Exchange Contract preparing, signing, as well as the fact of registration (refusal in registration) along with other important information.