Common use of Request for Quote Clause in Contracts

Request for Quote. Requests for Quote may be submitted to the Bank orally by means of telephone or in another manner separately agreed with the Customer. Request for Quote submitted by the Customer must at any given time include the following, as applicable: i) names of the Customer and the authorised person; ii) Financial Instrument type and amount or value; and iii) whether it concerns a buy and/or sell transaction. The Customer is bound by and shall comply with the specific terms and conditions of the Price Quotation and the specific terms and conditions of the Contract note prepared by the Bank and the Market rules. The Customer must respond to the Price Quotation given by the Bank immediately, unless otherwise separately agreed. A Price Quotation provided by the Bank is only valid at the time provided and any pricing is a function of the volatility of the Financial Instrument concerned and various other factors. The Bank is not under any obligation to issue a Price Quotation upon request by the Customer. A Trade is validly entered into when the Customer has accepted a Price Quotation given by the Bank and is not conditional upon a Contract note being produced or returned. Pursuant to the terms of the Contract note and unless otherwise agreed, the Customer shall make payment to the Bank of the total amount in the stated currency not later than at the time separately agreed between the parties or, if no such time is agreed, by the time applied by the Bank from time to time, or in respect of Financial Instruments to be recorded on a custodian account/equivalent with another custodian bank, instruct the custodian to promptly make such payment or arrange for settlement of the Trade.