Frequently Asked Question - GOLDGR

1.    Q: What percentage of the initial margin that needed to be paid for the transaction of gold in BKDI?
A:  The initial margin that needed to be paid for the transaction of gold in BKDI is 4% from the price of the market.

2.    Q: How much Spot margin that is needed during Spot Month?
A: The selling and buying members shall post 30% of the contract value.

3.    Q: What is Spot Margin
A: Refers to sum of money to be imposed on customers to guarantee the transaction in spot month.

4.    Q: What documents that has to be submitted from the member to the clearing department during notification?
A: The documents that need to be submitted during notification are:
-    Seller:  Delivery or Receiving Notification Form (FPP) and Gold Storage Certificate (BSE).
-    Buyer:  Delivery or Receiving Notification Form (FPP) and proof of available margin.

5.    Q: When is Warrant of Receiving Gold (SPPE) used?
A: SPPE is used when the seller doesn't match with the name listed on Gold Storage Certificate (BSE).
 
6.    Q: When is Document Storage Certificate (BSD) used?
A: Issued by the clearing house in terms of seller or buyer do not intend to receive gold and continue to store gold.

7.    Q: Before what time must the buyer/seller to send FPP and BSE?
A: Submit a delivery notice no later than 12.00 PM on the last business day of Spot Month.

8.    Q:  When is the time for the buyer to make a payment for the physical delivery (Seller Option)?
A:  The buying member shall be responsible to have a sum of money equivalent to 70% of gold contract by 15.00 PM the total contract value in the account.

9.    Q:  When is the time for the buyer to make a payment for the physical delivery (Buyer Option)?
A:  The buying member shall be responsible to have a sum of money equivalent to 70% of gold contract by 15.00 PM the total contract value in the account.

10.    Q: What is the settlement price if FPP is submitted before 12.00 PM?
A: When FPP is submitted by 12.00 PM, The settlement price shall be determined by yesterday daily settlement price.

11.    Q: Which settlement price will be used if FPP is submitted after 12.00 PM?
A: If the FPP is submitted after 12.00 PM, the settlement price will be determined on that current day.

12.    Q: If there were fluctuations of settlement price during the process of delivery, Will it be a loss for buyer/seller?
A: NO, it would not be a loss for both parties because floating profit and floating loss is calculated everyday using mark the market.

13.    Q: Definition of Mark to Market?
A: A measure of the fair value of accounts that can change over time, such as assets and liabilities. Mark to market aims to provide a realistic appraisal of an institution's or company's current financial situation.

14.    Q: What penalties or consequences given if the seller did not meet with contract month?
A:  The first 2 days will be 0.5% of and the third day will be 10% the current market price (determined by the exchange) of deliverable quantity value of deliverable quantity value.

15.    Q:  What penalties or consequences given if the buyer did not meet with contract month?
 A: The first 2 days will be 0.5% of and the third day will be 10% the current market price (determined by the exchange) of deliverable quantity value of deliverable quantity value.
                  
                              Frequently Asked Questions - CPOTR

1.    Q: What percentage of the initial margin that needed to be paid for the transaction of gold in BKDI?
A:  The initial margin that needed to be paid for the transaction of gold in BKDI is 10% from the price of the market.

2.    Q: What percentage of Delivery market Margin that needs to be paid during Spot Month?
A: The percentage of Margin Spot that needed to be paid at the time of Spot Contract month is 30% from the price of market.

3.    Q: What is Exchange for Physical (EFP)?
A: Exchange for Physical (EFP) is a physical delivery agreement between buyer or seller during Spot Contract to clearing house.

4.    Q: What is Alternative Delivery Procedure (ADP)?
A: During the process ofAlternative Delivery procedure, a buyer and seller who have been matched may agree to make and take delivery of their matched positions pursuant to an Alternative Delivery Procedure

5.    Q: During Alternative Delivery Procedure (ADP), when will the buyer and seller execute in such form as prescribed by the clearing house?
A: The buyer and seller, through their respective buying and selling member, shall deliver an ADP Notice to the clearing house no later than 12.00 PM on the tenth day after trade date.

6.    Q: When is the Last Trading Day?
A: Last Trading Day ends at 17.00 PM on the 15th day of the Spot Contract month ot if the 15th day, then the Trading Day immediately preceeding the 15th day.

7.    Q: When is the deadline of CPO for the buyer?
A: The buyer has to pay the remaining amount on the contract to clearing house by 15.00 PM in two business days ( T+2B) after tanggal perdagangan (T).

8.    Q: What Quality requirements for CPO are needed to fulfill Physical Delivery?
A: Every contract of CPO traded on Delivery market shall be of satisfactory quality and shall have the physical and chemical properties at time of loading
(a)    free fatty acid 4.5% maximum based in tank’s sample;
(b)    moisture and impurities 0.5% maximum

9.    Q: Where are the designated tanks that BKDI agreed to?
A: The designated tanks are:
1.    PT Smart Tbk. (Refinery) - Belawan
2.    PT Smart Tbk. (Bulking) – Belawan
3.    PT. Ivo Mas Tunggal (Bulking) – Dumai
4.    PT. Wilmar Nabati Indonesia - Kawasan Industri Dumai ( Bahasa Indonesia)
5.    PT. Wilmar Nabati Indonesia - Kawasan Peruntukan Industri Dumai ( Bahasa Indonesia)

10.    Q: When is Exchange for Physical (EFP) occurred?
A: Occurs during Spot Contract on the 16th before Spot Contract until the 15th day on Contract Month.

11.    Q: What penalties or consequences given if the seller did not meet with contract month?
A:  The first 2 days will be 1.0% of and the third day will be 10% the current market price (determined by the exchange) of deliverable quantity value of deliverable quantity value.

12.    Q:  What penalties or consequences given if the buyer did not meet with contract month?
 A: The first 2 days will be 1.0% of and the third day will be 10% the current market price (determined by the exchange) of deliverable quantity value of deliverable quantity value.