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UAEGD SILVER BAR

CONTRACT SPECIFICATIONS OF UAEGD SILVER BAR
Description UAEGD SILVER Bar T+0
Trading Period Exchange Business Days
Trading Session 09:00 Hrs. to 17:30 Hrs. Indian Standard Time (IST)
Trading Unit 30 kg
Price Quote US Dollars per Troy Ounce
Maximum Order Size 5100 kg
Tick Size (Minimum Price Movement) US$ 0.005
Margin 100% Early Pay-in from Buyers & Sellers
Delivery
Settlement Basis Compulsory in BDR form
Delivery Unit 30 kg
Settlement T+0
BDR Settlement Timing Every 30 minutes during Trading Hours
BDR Pay-out Directly into the Demat Account of Client / LPTM
Funds Settlement Timing 18:00 Hrs. to 21:00 Hrs. Indian Standard Time (IST) same day
Quality Specifications Grade: 999 and Fineness: 999 (as per IS 2112: 1981)
  • No negative tolerance on the minimum fineness shall be permitted.
  • If it is below 999 purity it is rejected.
These Silver bars should be serially numbered Silver bars supplied by UAE Good Delivery (UAEGD) approved suppliers or other suppliers as may be approved by IIBX. These Silver bars are to be submitted along with supplier’s quality certificate.
Country of Origin While depositing Silver Bars in the vaults, the Qualified Supplier (First Importer in India) must produce a Certificate of Origin issued by concerned authorities in UAE.
Settlement Mechanism Weight of the bar shall be within 900 troy ounces (approx. 28 Kilos) to 1050 troy ounces (approx. 33 kilos), and settlement will take place accordingly as per exact weight.
Delivery Logic Compulsory in BDR form in the Demat account with the depository.