EFP Delivery of Bonded Warrant

Updated on 2022-06-13

 

1)  Both buyer and seller concluded an intention of off-exchange EFP; 
2)  Both buyer and seller submit an application for EFP via their respective members: buyer submits the buy-in intention while seller submits warrant 
3)  The Exchange closes out relevant futures positions after review and approval;
4)  Buyer’s customer submits payment for goods via tis member while the Exchange releases warrant after confirming the receipt of such payment
5)  Seller issues VAT invoice to seller’s member; seller’s member issues VAT invoice to the Exchange; the Exchange issues VAT invoice to buyer’s member; buyer’s member issues VAT invoice to buyer’s customer; 

 

EFP Delivery of Bonded Warrant

Updated on 2022-06-13

 

1)  Both buyer and seller concluded an intention of off-exchange EFP; 
2)  Both buyer and seller submit an application for EFP via their respective members: buyer submits the buy-in intention while seller submits warrant 
3)  The Exchange closes out relevant futures positions after review and approval;
4)  Buyer’s customer submits payment for goods via tis member while the Exchange releases warrant after confirming the receipt of such payment
5)  Seller issues VAT invoice to seller’s member; seller’s member issues VAT invoice to the Exchange; the Exchange issues VAT invoice to buyer’s member; buyer’s member issues VAT invoice to buyer’s customer; 

 

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