Common use of Clearing Services Clause in Contracts

Clearing Services. 1.1 The Company shall, if and as from the time IFSG admits the Customer to membership, provide the requisite clearing services to the Customer in respect of the trades made by the Customer on the ICE Platform in accordance with the rules of IFSG and ICSG during the term of this Agreement. 1.2 In consideration of the above services provided by the Company, the Customer acknowledges and agrees that:- (a) The Company acts as principal at all times in all the trades and contracts executed on IFSG and cleared through ICSG; (b) The Customer has no claim of any nature against IFSG and/or ICSG, whether in tort, contract, restitution, in respect of any trades and contracts, pursuant to the rules of IFSG and ICSG, this Agreement, the agreement between the Company and ICSG or otherwise, save for any liability which by applicable law may not be excluded; (c) The ICE Clear Singapore Customer-CM Transactions Standard Terms, as amended, as well such other terms and/or rules as may from time to time be prescribed by IFSG and ICSG shall be incorporated hereunder and prevail in the event of any inconsistency.