Quality Specification

General Purpose Fibre (raffia) extrusion grade

Parameter	Test Method	Values
Melt Flow Rate(g/10Min 230C/2.16 kg)	ISO 1133	2.5-4.0
Tensile Yield Stress	ISO 527	29 Minimum
FDA Status	21CFR 177.1520 (c) 1.1	Compliant
EU Food Contact Status	EU Directive 2002/72/EC and its amendments	Compliant

Dubai World Central or Jebel Ali Free Trade Zone Delivery
Material must be free from contaminants and consistent with industry best practice
Material must be free flowing clean cut pellets suitable for use in both volumetric and gravimetric feeders
Without Additives other than the producer’s standard anti-oxidant and acid neutralizer package

 

Trading Months

Up to 12 calendar months at any one time

Trading Days

Monday through Friday

Last Day of Trading

10th Trading Day of the Delivery Month

New Contract Listing

First Trading Day after the Last Trading Day

Trading Hours

7am - 1pm Dubai Time

Wholesale Trades

EFS, EFP, Block trade facilities available with minimum permitted block size of 50 lots

Price Quote

USD per MT

Minimum Tick

USD 1.00

Minimum Tick Value

USD 5.00

Calendar Spread

Calendar Spread of Jan-May, May-Sep and Sep-Jan will be available for trading

Delivery Type & Minimum Delivery Unit

Compulsory Delivery. In Multiples of 5 Trading lots on both Buyers and Sellers. Note 1*

Price Basis

In warehouse (INWH), Duty unpaid at DGCX Approved Warehouse Delivery at Seller's option

First Notice Day

1st Trading Day of the Delivery Month

Delivery Day

Two Business Days after Notice Day

Daily Price Limit

No Limit Note 2*

Margins

USD250 (subject to change from time to time by the DCCC)

Delivery Period Margin

10 times of the Initial Margin

Calendar Spread Margin

100% benefits is offered on calendar spread positions

Delivery Instrument

Warrant

Last Notice Day

Last Day of Trading

Delivery Notices

During the Notice Day, Sellers must submit Delivery Notice, indicating: 

• Clearing Member, Trading Member and Client code
• The Contract(s) against which delivery is to be made (including the number of lots making up the parcel(s))
• In respect of each parcel, the Warrant reference, or, as a minimum:
  • the delivery location
  • the details of the lot to be delivered
  • such other information as may be prescribed
•  

Documents

• A copy of the producer’s Certificate of Analysis for every production batch making up the lot, duly evidencing that each lot is fully traceable, must accompany every lot delivered into a DGCX Approved Warehouse. The Certificate of Analysis must state the producer, grade, batch number and test results for the batch  
• A certificate of origin issued by the producer specifying the country of origin of the lot
• A material safety data sheet issued by the producer containing safety information regarding the handling of the PP

Delivery Tolerance

• Weight tolerance of +/-0.8% on standard Delivery Unit of 24.75 tonnes 
• The net weight and number of torn bags within each lot shall be documented

Packaging

• Each delivery unit shall consist of 990 x 25 kg bags comprising 18 pallets each carrying 55 such bags stacked symmetrically in 11 layers of 5 bags per layer  
• Each pallet shall be shrink or stretch wrapped and covered with a plastic hood 
• All pallets shall be in good condition without protrusions of nails, screws, large splinters or other sharp objects
• Each bag shall be marked indelibly with the producer’s name, brand, grade and batch number and the net weight of PP within the bag
• Torn bags shall have been repaired with suitable adhesive tape in a colour that enables such bags to be readily identified. 

Production batches

Each Delivery Unit shall consist of no more than 2 production batches

Polymer age and delivery time

PP must have been produced no more than 17 months prior to the Delivery Day and arrived at the Approved Warehouse for no longer than 6 months after production date

Delivery Allocation Information

Prior to 0600 hrs on the Business Day following the Notice Day(s), the DCCC notifies both Seller and Buyer of their matching, stating the allotted quantities specific grades (and theoretical weights), Settlement Value, Delivery location, and Delivery Day.

Delivery Prompt

One Business Day after the Notice Day(s); prior to 1200 hrs Dubai time, DGCX prompts Sellers of the necessity to acquire valid Warrant against their positions

Day Before Delivery Day

Prior to 1200 hrs, the DCCC can be advised of an ADP

Day of Delivery

Prior to 1200 hrs on the Delivery Day, Seller transfers warrant for delivery to the designated delivery Account

Provisional Settlement Value

The amount invoiced to the Buyer is basis nominal (Unit: 25 tonnes)

Pay-in of Funds
i.e. Buyer makes payment

Prior to 1200 hrs on Delivery Day, Buyer makes payment of the Provisional Settlement Value, adjusted to cater for release of Delivery Margin

Settlement Value

The amount paid to the Seller based upon the actually delivered quantity

Pay-out of Commodities i.e. Transfer of Title

After 1500 hrs on the Delivery Day, DCCC transfer endorses Warrant in favor of Buyer

Pay-out of Funds
i.e. Seller receives payment

After 1500 hrs, DCCC makes payment to Seller

Delivery Value Adjustment

On the Delivery Day after 1500 hrs any difference between the Provisional Settlement Value and the Settlement Value is reimbursed to the Buyer