New Zealand Gazette – 1990 – No. 170

Page 3675

✨ Brokerage Agreement Terms



28 SEPTEMBER NEW ZEALAND GAZETTE
3675

at such rate or rates as may from time to time be agreed upon by the parties. Such commission shall be payable only out of commission actually received by the Principal Broker from the Client.

  1. The Introducing Broker shall promptly inform the Client of any call for payment or lodgement of cover by way of initial margin or variation margin (by whatever terms those obligations are described) which the Principal Broker may make. If the Introducing Broker cannot readily be contacted the Principal Broker shall make all reasonable efforts to inform the Client direct of any such call.

  2. The Introducing Broker shall inform the Client of any other amounts payable by the Client to the Principal Broker promptly after being advised of such amounts by the Principal Broker.

  3. The Principal Broker shall send the Client monthly statements, open position statements and contract notes for all dealings in futures and option contracts by the Client with the Principal Broker.

  4. The Principal Broker reserves the right to refuse to deal on behalf of any Client in relation to any dealing in futures or option contracts (other than closing out existing open positions), or to limit the number of open positions held on behalf of any Client, or both. The Principal Broker will inform the Introducing Broker of any refusal at or before the time at which the order is placed with the Principal Broker, or as soon thereafter as reasonably possible.

  5. Either party may terminate this agreement at any time by giving the other seven days’ notice in writing to that effect.

  6. Unless otherwise agreed between the parties, upon termination of this agreement the Principal Broker will close out all contracts entered into on behalf of Clients and will close out, abandon or exercise any option not yet exercised, at the Principal Broker’s discretion.

  7. Termination shall not release either party from liability for any antecedent breach of any of the terms of this agreement.

EXECUTION

SIGNED by the Principal Broker:
)

SIGNED by the Introducing
Broker: )

SCHEDULE OF MINOR BREACHES

PART A

MINOR BREACHES DESIGNATED PURSUANT TO CLAUSE 43.1

Number of
By-Law Nature of Breach

PART B

SCHEDULE OF FINES IN RESPECT OF MINOR BREACHES
First minor breach by Member) $ ... for first contract.
$ ... for each additional
contract.



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✨ LLM interpretation of page content

🏭 Introducing Broker – Principal Broker Agreement (continued from previous page)

🏭 Trade, Customs & Industry
Brokerage Agreement, Futures Trading, Option Contracts, Client Instructions, Commission Sharing, Termination Clauses