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Settlement Process
The clearing and settlement of trades executed on Bullion Exchange shall be cleared and settled as per the guidelines issued by International Financial Services Centres Authority (IFSCA) and as per the provisions of Rules, Bye-Laws and Regulations of the India International Bullion Exchange IFSC Limited as well as any other circulars/guidelines that may be issued in respect of the same from time to time.

The clearing and settlement shall be done on a multilateral netting basis as per the settlement obligations of the respective clearing members. The Clearing Members shall be responsible for all obligations, funds and bullion depository receipts, as well as the payment of margins, penalties, any other levies and settlement of obligations of the trades entered by them as trading members and also of those trading members and custodial participants, if any, for whom they have undertaken to settle as a Clearing Member.

As a set process all obligations in respect of trades entered by Trading Members will be transferred to the respective Clearing Members who have undertaken to act as Clearing Members for them.