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The following articles are of executing the agreement between the buyer and seller
-The seller states that the shares in subject belongs to his ownership and he has
the full right in any action of such shares.
- The buyer always has the right in defeating the contract during the forward deal
period against the payment that he had paid at the time of the issuance of the contract
- The buyer should deposit with the broker the value of the Option inorder to be
credited at KCC accounts before the due date for settling the value of the Option
deal.
- The seller should submit to the broker the subject shares certificates inorder
to be credited at the KCC accounts before the due date for settling the value of
the Option deal.
- The buyer should submit the remaining balance out of the total amount of the agreed
amount set in the forward contract with the broker, before the due date for settling
the value of the contract.
- The forward contract expires and its advanced payment and all other rights shall
be endorsed under the following cases to:
1- The expiration of the forward contract without settling the remaining balance
of the same contract .
2- The buyer uses his rights in defeating the contract prior to its expiry date.
3- If the percentage in drop in value of the share –including the dividends – less
than the remaining value and the client has the right to deposit the remaining balance
one day after the drop in share and collect them whenever he prefers.
- The dividends shares –if exist- related to the shares in subject shall be preserved
with KCC and shall be submitted to the buyer if he settles the remaining balance
during the forward period or to be returned to the seller along with the subject
shares if the forward contract expires without settling the remaining balance.
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