(1) The physical delivery must be completed within the delivery date stipulated in the contract. The delivery date refers to 16 to 20 of the contract month. If the last trading day falls on a legal holiday or the delivery date falls on a legal holiday, the delivery date will be postponed accordingly and five delivery days will be guaranteed. These five delivery days are called the first, second, third, fourth and fifth delivery days respectively, and the fifth delivery day is the final delivery day.
(2) First delivery date: the buyer declares its intention. Within the first delivery date, the buyer submits a letter of intent for the required goods to the exchange. The contents include the variety, brand, quantity and the name of the designated delivery warehouse; The seller submits the standard warehouse receipt. The seller shall submit to the exchange a valid standard warehouse receipt that has paid the storage fee within the first delivery day.
(3) The second delivery date: the exchange issues standard warehouse receipts. On the second delivery day, the exchange will issue the standard warehouse receipt to the buyer according to the existing resources and the principle of "time first, quantity rounding, nearest matching and overall arrangement". For the standard warehouse receipt that cannot be used for the delivery of the next futures contract, the exchange will distribute it to the buyer according to the proportion of the total delivery in the current month.
(4) The third delivery date: the buyer pays the money and takes the bill. The buyer must deliver the payment to the exchange and obtain the standard warehouse receipt before the third delivery date 14: 00. The seller collects money. The exchange will pay the seller the payment before the third delivery date 16: o0.
(5) The fourth and fifth delivery days: the seller pays the special VAT invoice.
2. The specific provisions for centralized delivery of PTA futures in Zhengzhou Commodity Exchange are as follows:
(1) From the first trading day of the delivery month, members will close the positions of investors who are not allowed to deliver in the delivery month. If the open positions are paired, the exchange will impose a penalty of 10% of the contract value (calculated at the settlement price of delivery) and pay the penalty to the other party to terminate the delivery; If both the buyer and the seller have the above circumstances, the Exchange will impose penalties on both parties according to the amount calculated in proportion as stipulated in this article, and terminate the delivery.
(2) After the closing of the market on the last trading day (i.e. the trading day), the corresponding part of the trading position in the delivery month held by investors with the same trading code of the same member will be automatically closed by the computer, and the closing price will be calculated according to the settlement price of the day. Other open contracts are regarded as delivery contracts, and the computer matches them according to the principle of rounding and minimum matching. Once the delivery relationship is confirmed, the buyer and the seller shall not adjust or change it without authorization.
(3) On the first trading day after the last trading day (i.e. the notification day), the buyer and the seller confirm the delivery notice through the member service system of the Exchange. Members who have not received the delivery notice or have objections to the delivery notice shall notify the Exchange in writing before the notification date 17: 00; If no objection is raised within the specified time, it shall be deemed as agreement to serve the notice.
(4) Before 9: 00 on the second trading day after the last trading day (that is, the delivery date), the buyer member will transfer the outstanding funds into the account of the exchange, and the seller member will submit the certificate of holding the standard warehouse receipt to the settlement department of the exchange. The buyer and the seller shall go to the settlement department of the exchange for specific delivery and settlement procedures within the specified time, and the buyer member shall provide the investor's name and tax registration certificate number to the seller member.
After receiving the full payment from the buyer member, the Exchange will transfer 80% of the full payment to the seller member on the delivery date, and deliver the warehouse receipt of the seller member to the buyer member. When the buyer member confirms receipt of the special VAT invoice transferred by the seller member, the balance shall be settled. Members shall affix their seals and sign to confirm the transmission of invoices and the settlement of the balance.