Common use of Draw Down Clause in Contracts

Draw Down. Subject to this Agreement, Client may draw down against a Window Forward Payment during the Delivery Window provided that AFEX Singapore has received Settlement in immediately available funds corresponding to the amount of the draw down. Notwithstanding any draw down, Client is required to provide full Settlement, or any remaining balance, to AFEX Singapore in good cleared funds in connection with a Forward Payment on or before the end of the Value Date. AFEX Singapore may, in its discretion, apply to any draw down any rate of exchange that it deems reasonably appropriate.

Draw Down. Subject to this Agreement, Client may draw down against a Window Forward Payment during the Delivery Window provided that AFEX Singapore has received Settlement in immediately available funds corresponding to the amount of the draw down. Notwithstanding any draw down, Client is required to provide full Settlement, or any remaining balance, to AFEX Singapore in good cleared funds in connection with a Forward Payment on or before the end of the Value Date. AFEX Singapore may, in its discretion, apply to any draw down any rate of exchange that it deems reasonably appropriate.. BUS_ACC_OPEN_SG_0219_EC