STATEMENT & PAYMENT
15.1.1 CSD will forward a CSD Fees and Surcharge Statement to DPs at the end of each month.
15.1.2 All payments will have to be effected to CSD by DP within 14 days following receipt of statement.
15.1.3 The mode of payment shall be by direct debit to the DPs account on the expiration of 14 days without penalties
PENALTIES (consult stock exchange) ****Revisit This****
15.1.4 Where a trade is not allocated on T or becomes unallocated following an amendment the following charges shall apply:
15.1.4.1 Daily fine of ¢1,000,000.00 or 1% (which ever will be higher)…. of the value of the transaction subject to a minimum of …..until the situation is rectified by T+2 12:00 noon.
15.1.4.2 If the buy-in is unsuccessful, the defaulting broker will pay a penalty of twice the value of CSD Commission on the value…… of the value of the failed transaction (pro rata in case of partial fill). .
15.1.5 Where a trade fails due to funds settlement default, an absolute and irrevocable penalty of …twice the value of CSD Commission on the value… shall be payable immediately.
