Template:M summ IETA 5.1(c): Difference between revisions
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Note that odd coda in Section {{ietaprov|5.1(c)}} where the {{isdaprov|Receiving Party}} agrees that the {{isdaprov|Delivering Party}}’s obligation is ''limited'': | Note that odd coda in Section {{ietaprov|5.1(c)}} where the {{isdaprov|Receiving Party}} agrees that the {{isdaprov|Delivering Party}}’s obligation is ''limited'' to : | ||
* | *an obligation to transfer {{isdaprov|Period Traded Allowances}} (which is fine, and no more than what is specified be be deliverable under the {{isdaprov|Transaction}} in any case) | ||
*''from'' any of the {{isdaprov|Delivering Party}}’s {{isdaprov|Holding Accounts}} | *''from'' any of the {{isdaprov|Delivering Party}}’s {{isdaprov|Holding Accounts}} — and this one baffles us, especially as it says the the {{isdaprov|Delivering Party}} is “limited to” delivering from this account, rather than being ''obliged'' to deliver from that account, in which case it still has the problem of ensuring there are {{isdaprov|Allowances}} in the account in a fit state to deliver. We have more to say about this in the premium section. | ||
*''to'' the {{isdaprov|Receiving Party}}’s {{isdaprov|Holding Account}} — so we suppose this heads off the Receiving Party doing something odd like saying “oh, can you deliver it to my Russian subsidiary’s Holding Account” or “can you leave it on a fire hydrant outside Raffles Hotel in Singapore”. But again this one seems to state the bleeding obvious. The contract says Seller must deliver to Buyer’s account, so that is all Seller is obliged to do. | *''to'' the {{isdaprov|Receiving Party}}’s {{isdaprov|Holding Account}} — so we suppose this heads off the Receiving Party doing something odd like saying “oh, can you deliver it to my Russian subsidiary’s Holding Account” or “can you leave it on a fire hydrant outside Raffles Hotel in Singapore”. But again this one seems to state the bleeding obvious. The contract says Seller must deliver to Buyer’s account, so that is all Seller is obliged to do. | ||
Revision as of 10:57, 7 July 2023
Note that odd coda in Section 5.1(c) where the Receiving Party agrees that the Delivering Party’s obligation is limited to :
- an obligation to transfer Period Traded Allowances (which is fine, and no more than what is specified be be deliverable under the Transaction in any case)
- from any of the Delivering Party’s Holding Accounts — and this one baffles us, especially as it says the the Delivering Party is “limited to” delivering from this account, rather than being obliged to deliver from that account, in which case it still has the problem of ensuring there are Allowances in the account in a fit state to deliver. We have more to say about this in the premium section.
- to the Receiving Party’s Holding Account — so we suppose this heads off the Receiving Party doing something odd like saying “oh, can you deliver it to my Russian subsidiary’s Holding Account” or “can you leave it on a fire hydrant outside Raffles Hotel in Singapore”. But again this one seems to state the bleeding obvious. The contract says Seller must deliver to Buyer’s account, so that is all Seller is obliged to do.