Common use of Validity of an Order Clause in Contracts

Validity of an Order. An Order is valid for a fixed period unless it is executed immediately in full, and unless and until the Bank has refused to accept such Order. If an Order does not have a specified period of validity, it will be in force for the day it is given. If the Bank’s Brokerage service is closed at the time the Order is received, the Order will be valid and in force for the following Business day. However, the validity of an Order expires in any case after fourteen (14) calendar days from when it has been given if the Order has not been executed or cancelled by that time, or if not otherwise agreed with the Customer, or if not otherwise stated by the Market rules. If the Order has been given to be executed at market price on a Marketplace, the Order will be in force only for the time it is submitted to the Marketplace. However, this condition is not applied to Orders given at market price to a Marketplace if the Order amount is below the odd lot possibly required by the Marketplace in question.

Validity of an Order. An Order is valid for a fixed period unless it is executed immediately in full, and unless and until the Bank has refused to accept such Order. If an Order does not have a specified period of validity, it will be in force for the day on which it is givensubmitted. If the Bank’s Brokerage service is closed derivative trading services have ended at the time the Order is received, the Order will be valid and in force for the following Business dayDay. However, the validity of an Order expires in any case after fourteen (14) calendar days from when it has been given of its entry into force if the Order has not been executed or cancelled by that time, or if not otherwise agreed with the Customer, or if not otherwise stated by the Market rulesRules. If the Order has been given submitted to be executed at market price on a MarketplaceMarket Place, the Order will be in force only for the time it is submitted to the MarketplaceMarket Place. However, this condition is not applied to Orders given submitted at market price to a Marketplace Market Place if the Order order amount is below the odd lot possibly required by the Marketplace Market Place in question.