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What does this sentence mean? Hello, would you please tell me the meaning of the following sentence? "Unpaid accumulated premium charges at the posted rate applicable to the facility shall be allowed and credited to the buyer by the seller up to and including the date of delivery. " This is a sentence from the regulations of CME but I know little about futures. How to understand "at the posted rate"? And does " credited to the buyer by the seller“ mean that the money goes from the buyer to the seller's account? Thanks!
Nov 9, 2016 1:19 AM
Answers · 4
I think the sentence means "If the buyer postpone paying his due money for a long time, then the seller will return the premium to the account of the buyer." "posted" probably means the rate stipulated by the facility is posted on the Internet or on a bulletin. Hope it helps.
November 9, 2016
1. As for "posted rates", I found the following definition. "Definition of posted rate. posted rate. 1. The mortgage rates that the banks and other lenders publicly announce. Oftentimes posted rates are a full percentage point or more in excess of the rates banks are actually willing to offer, and the banks expect the borrower to negotiate the interest rate down." [] 2. "Credited to the buyer by the seller" refers to money/credit being added to the buyer's account by the seller, so it's the other way around.
November 9, 2016
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