In case of additional volatility, a special margin at such percentage, as deemed fit, will be imposed immediately on both buy and sale side in respect of all outstanding position, which will remain in force for next 3 days, after which the special margin will be relaxed.

For individual clients: 20000 MT
For a member collectively for all clients: 25 % of the open market position

10 MT (with tolerance limit of 200 kgs) which means that if the seller delivers any quantity between 9.80 MT to 10.20 MT, it will be construed as adequate discharge of his delivery obligation of 10 MT, though he will get the value only for actually quantity delivered by him.

Quality Specifications

Guar Gum (Refined Guar splits)
Residue Insoulble in Acid- 3.00% (Max)
Protein - 5.00% (Max)
Black, dark red and brown coloured splits - 1.00% (Max)
Through 14" mesh - 3.00% (Max)

10.00%
Between 10.00 % to 12% : Rebate of 0.25 % for every increase of 0.50 % or part thereof 
Rejectable at Buyer's option Above 12 %

0.10%Between 0.10 % to 0.25% : rebate of 0.05 % for every increase of 0.05 % or part thereof, Rejectable at buyer's option : Above 0.25 % 

Basis 8 %Between 8.00 % to 10.00 %: Rebate of 0.5 % for every increase of 0.5 %Rejecatble at Buyer's option Above 10 % 

Basis 0.20 % Between 0.20 % to 0.50 % : Rebate of 0.10 % for every increase of 0.05 % Rejectable at Buyer's option Above 0.5 %

It should be delivered as per the following specifications;

• 80 kgs net per bag in good quality jute bags

• Bag weight must be 800 grams minimum

• Bags must not be torn or darned

• Bag must not be marked and/or stenciled other than bag manufacturer's quality indicating mark.

• Inside the bag there must be poly liner. If Liner is Missing, a discount of Rs 6.00 per bag will be applicable.

   Delivery and Settlement Procedure of Guargum

18th Day of Contract Month by 3:00 p. m (previous working day if 18th day is a holiday). Intention received from the seller after such cut off time will not be entertained.

Seller's option If seller fails to deliver then the open position will be settled as per due date rate. However if a seller has submitted tender notice, and thereafter he fails to deliver, then a fine of 5% is levied, out of which 90 % will go to the buyer.

Buyers willing to take delivery will be required to give their intention on 18th day of the Contract month by 3 pm. In respect of allocation of delivery, priority will be given to those buyers who have given such intention. However, delivery can be allocated to other buyers also, who have not given their intention to take delivery and therefore, the buyers can give their intention on subsequent days also during the contract period. If the buyer fails to make payment for the delivery allocated to him, a penalty of 5 % will be imposed on him, out of which 90 % will be passed on to the seller tendering delivery. Further, the Buyer will not have any option about choosing the place of delivery and will have to accept the delivery as per allocation made by the exchange. 

The Seller will issue tender notice with evidence of delivery to the exchange in a specified format along with the Warehouse Receipt. Members shall not square off his outstanding position to the extent of tendered quantity.

The Exchange will keep on disseminating information regarding tender and delivery intentions received from the buyers and the sellers during 18th day to 20th day of the contract.

Delivery Order will be submitted in specified format giving details of Members / Registered Non-Members who shall perform delivery. It will be accompanied by a valid Warehouse Receipt, Invoice and Good Delivery Quality Certificate from Exchange designated Certifier as per Contract Specifications. Delivery order once submitted cannot be withdrawn or cancelled or changed unless so agreed by MCX in writing. Members tendering the delivery order shall clearly specify the grade and shall be in conformity with the surveyor's certificate accompanied with the delivery document and cannot be changed subsequently. Each delivery order issued shall be in multiples of minimum delivery lots and shall be designated for only one delivery center and one location in such center. The seller shall not issue delivery order at a place where there is restriction against movement of goods. In case, the seller is unable to give permit to the buyer, the same would be treated as No-Delivery and he shall be liable to pay such penalty as may be applicable for failure to tender delivery.

Fax or Courier

First amongst the willing Buyers and then amongst the other Buyers. Done on last day of the contract.

Due Date Rate

Next working day after contract expiry (21st day of the month)

Within 3 days from the contract expiry

Deliveries can be effected from Exchange designated warehouse which may be CWC or private warehouse. The address of Exchange designated private warehouse is as under: -White Water Park (India) Ltd.,BMALL, Shobhawaton Ki Dhani, Khema Ka Kuwa,Pal Road,Jodhpur,Rajasthan-342008.

Warehouse receipts shall be endorsed in the name of the buyer after the Pay-in and Pay-out procedures are completed.

All outstanding positions on the expiry of contract, not settled by way of delivery in the aforesaid manner, will be settled as per the Due Date Rate.

The members will provide appropriate tax forms wherever required as per law and as customary and neither of the parties will unreasonably refuse to do so.

Borne by the Seller upto Payout Date.Borne by the Buyer after Payout Date.

As per exchange decision due to a force majeure or otherwise

Due Date Rate is calculated on the last day of the contract maturity. This is calculated by way of taking simple average of last 3 days of the spot market prices. For the purpose of Guar gum, the prices will be taken from Jodhpur. For obtaining the prices of spot market, the Exchange will take the prices from a panel of exporters, processors, dealers and brokers and take the average out of 3 prices taken on a day from three different entities. If the seller has offered delivery, delivery will be effected at due date rate, which will be delivery of sales tax paid Guar gum packaged in the specified manner.

The general provisions of Business Rules & decisions taken by FMC/ Board / Executive Committee in respect of matters specified above will apply mutatis mutandis. The Exchange may further prescribe additional measures relating to delivery procedures, warehousing, Quality Certification, Margining, risk management from time to time. In case of any interpretational dispute or clarifications the decision of the Exchange shall be final and binding on the members and others.