>>>welcome visitor, haven't logged in. Login
Subscribe Now Contact us  
Font Size:  A A A Search “Fabao” Window English 中文 = 简体  繁体
  Favorite   DownLoad   Print
 
Delivery Rules for Fuel Oil Futures of the Shanghai Futures Exchange (2018 Amendment) [Effective]
上海期货交易所燃料油期货交割实施细则(2018修订) [现行有效]
【法宝引证码】

Delivery Rules for Fuel Oil Futures of the Shanghai Futures Exchange

 

上海期货交易所燃料油期货交割实施细则(修订案)

(Amended) (上海期货交易所公告[2018]20号)

(Announcement No. 20 [2018] of the Shanghai Futures Exchange) 
Chapter 1 GENERAL PROVISIONS 

第一章 总 则

 
Article 1 These Delivery Rules for Fuel Oil Futures (these “Delivery Rules”), formulated in accordance with the General Exchange Rules of the Shanghai Futures Exchange and related implementing rules, are designed to ensure the smooth delivery of fuel oil futures at Shanghai Futures Exchange (“SHFE” or the “Exchange”) and regulate physical delivery activities.   第一条 为保证上海期货交易所(以下简称交易所)燃料油期货合约交割业务的正常进行,规范实物交割行为,根据《上海期货交易所交易规则》和有关实施细则,制定本细则。
Article 2 These Delivery Rules shall apply to delivery against fuel oil futures contracts on the Exchange. The Exchange and all members, customers, and designated delivery oil depots shall abide by these Delivery Rules.   第二条 交易所燃料油期货合约的交割业务适用本细则,交易所、会员、客户以及指定交割油库等应当遵守本细则。
Article 3 Delivery against fuel oil futures contracts are conducted by bonded delivery, which refers to the delivery of the underlying fuel oil which is stored, under bonded status and customs supervision, in bonded tanks at Designated Delivery Oil Depots.   第三条 燃料油期货合约交割实行保税交割,即以燃料油指定交割油库保税油罐内处于保税监管状态的燃料油作为交割标的物进行实物交割的方式。
Delivery against fuel oil futures contract adopts depot delivery. 燃料油期货合约交割采取仓库交割方式。
Physical delivery against an expired fuel oil futures contract shall be conducted according to the delivery procedures. Delivery against a non-expired fuel oil futures contract may be conducted through an exchange of futures for physicals (“EFP”). 到期燃料油期货合约的实物交割按照交割流程进行。未到期燃料油期货合约可以通过期货转现货的方式(以下简称期转现)进行实物交收。
Article 4 Any physical delivery by a customer shall be conducted via its carrying member through the Exchange.   第四条 客户的实物交割应当通过会员办理,并以会员名义在交易所进行。
Any customer who is unable to provide or receive the tax invoices specified by the Exchange is not permitted to engage in physical delivery. 不能交付或者接收交易所规定发票的客户不允许交割。
A natural person customer shall reduce its open positions in any fuel oil futures contract to zero by the close of the third trading day before the last trading day of the contract. The Exchange will force-liquidate such open positions in accordance with its rules starting from the second trading day before the last trading day. 某一燃料油期货合约最后交易日前第三个交易日收盘后,自然人客户该燃料油期货合约的持仓应当为0手。自最后交易日前第二个交易日起,对自然人客户的该月份持仓按照交易所的规定强行平仓。
Article 5 Physical delivery against any expired contract shall take place at a designated delivery oil depot (the list is to be separately announced by the Exchange). The settlement location for any non-expired contract due for EFP shall be set out in the EFP agreement between the parties.   第五条 到期合约的实物交割地点为交易所指定交割油库(由交易所另行公告)。未到期合约采用期转现方式的,交收地点由双方在期转现协议中明确。
Chapter 2 STANDARD DELIVERY PROCEDURES 

第二章 交割流程

 
Article 6 Delivery procedures,” with respect to an expired futures contract, means the mode of delivery wherein the buyer and the seller completes the delivery of the physicals underlying the contract through an exchange of bonded standard warrants, in accordance with the prescribed procedures.   第六条 交割流程是指期货合约到期后,买卖双方以保税标准仓单形式,按照规定的程序履行实物交割的过程。
Article 7 The quality of fuel oil shall be as established at load-in and load-out by assayers certified by the Exchange (the list of which is to be separately announced by the Exchange), using the sampling method specified in GB/T 4756 and the test methods specified in the SHFE Fuel Oil Contract Specifications.   第七条 燃料油入出库以交易所指定检验机构(由交易所另行公告)检验为准,取样方法采用GB/T4756,试验方法参见燃料油期货合约。
The assayer for fuel oil intended for load-in shall be selected from the foregoing list by the seller; the assayer for fuel oil intended for load-out shall be selected from the list by the buyer. If the designated delivery oil depot does not agree with the buyer's or seller's choice, it may negotiate with the relevant party for a replacement. If the negotiation fails, the designated delivery oil depot may request the Exchange to select the assayer for them. The buyer, seller, and designated delivery oil depot shall cooperate with certified assayers in the inspection process,. Unless otherwise specified by these Delivery Rules, the load-in inspection fee shall be borne by the seller, the load-out inspection fee shall be borne by the buyer. 燃料油入库时检验机构由卖方在指定检验机构中选择,出库时检验机构由买方在指定检验机构中选择。指定交割油库若对买方或者卖方选择的检验机构有异议,可以与对方协商重新选择指定检验机构。若协商不成,可以向交易所提出申请,由交易所确定。买方、卖方和指定交割油库应当配合指定检验机构的检验工作。入库时的检验费用由卖方承担,出库时的检验费用由买方承担,本细则另有规定的除外。
Article 8 Owner of fuel oil shall coordinate with relevant parties such as dock, port, pipeline companies, customs, and goods inspection agencies before submitting its load-in application. The load-in application shall be submitted to the Exchange no later than ten business days prior to the proposed date of load-in. Customers shall delegate their futures firm members to handle the load-in application (delivery notice).   第八条 货主在办理入库申报前,应当妥善协调码头、港口、管道运输、海关、商品检验等相关机构,并应当在燃料油入库的15天前向交易所办理入库申报。客户应当委托期货公司会员办理入库申报(交割预报)手续。
Article 9 The Exchange will approve or reject the load-in within three business days of receiving a conformant load-in application, taking the owner's preferences into account if storage capacity permits. Following an approval, the owner shall deliver its products to the relevant designated delivery oil depot within the load-in period, which is 15 days as of the approval of load-in by the Exchange, subject to such adjustment as the Exchange may deem fit according to the circumstances.   第九条 交易所在库容允许情况下,考虑货主意愿,在收到符合规定的入库申报资料之日起3个工作日内决定是否批准入库。经交易所批准入库的,货主应当在入库有效期内向指定交割油库发货。入库有效期为交易所批准之日起15天。交易所可以视情况,调整入库有效期。
Article 10 The documents accompanying the load-in application shall be true and accurate. The owner shall post a load-in application deposit of thirty yuan (¥30) per metric ton, which will be debited by the Exchange from the member's futures settlement account.   第十条 货主提交的入库申报资料应当属实,并交纳30元/吨的申报押金,申报押金由交易所从会员结算准备金账户中划转。
The Exchange shall return the load-in application deposit to the member's futures settlement account after the owner has completed the load-in procedures and received the bonded standard warrants. If only a portion of the quantity specified in the load-in application is delivered, the load-in application deposit corresponding to the shortfall shall be credited to the designated delivery oil depot as compensation; if no portion of the specified quantity is delivered, the deposit shall be fully credited to the designated delivery oil depot as compensation. Where the actual load-in quantity is within the tolerance for weight differential for the futures contract, the deposit shall be fully refunded. 货主办理完入库手续并取得保税标准仓单后,交易所将申报押金清退至会员结算准备金账户中。入库申报数量部分执行的,差额部分的申报押金应当补偿给指定交割油库;入库申报数量全部没有执行的,申报押金应当全部补偿给指定交割油库。实际入库量在期货合约数量溢短允许范围内的,入库申报押金全部返还。
Article 11 Before unloading and load-in, the owner shall engage a certified assayer to test the fuel oil for density, kinematic viscosity, sulfur content, moisture, and flash point in accordance to the standards and methods specified in the futures contract, and only unload after passing the test.   第十一条 货主应当在燃料油卸货入库前,委托指定检验机构按照期货合约规定的标准和方法对油品的密度、运动粘度、硫含量、水分、闪点等5个指标进行品质预检,预检合格后再行卸货。
Article 12 A designated delivery oil depot shall inspect the fuel oil it receives and verify the accompanying documents.   第十二条 燃料油运抵指定交割油库后,指定交割油库应当对到货以及相关单证进行验核。
Article 13 The owner shall engage a certified assayer to inspect its outbound fuel oil at load-in. Load-in inspection consists of quality assay and weight inspection.   第十三条 燃料油入库时,货主应当委托指定检验机构进行检验。检验分为质量检验和重量检验两部分。
(i) Quality assay (一)入库质量检验
Prior to load-in, the certified assayer shall take and seal fuel oil samples from the ship tanks or other transport containers (Sample A) and from the depot (Sample B). Sample A is further divided into A1, comprising several samples taken from each ship tank or each container, and A2, a mixture of all the samples of A1. After load-in, the certified assayer shall assay the mixed fuel oil in the depot (Sample C) and issue a testing report. If Sample C passes the test, it means the fuel oil delivered by the owner is of satisfactory quality and the testing report for Sample C shall serve as the assay report for the fuel oil delivered by the owner. 燃料油入库前,指定检验机构应当对船舱或者其他运输装载容器内的燃料油(A样)和指定交割油库内原有燃料油(B样)取样并封样,A样分A1样和A2样,其中A1样指入库燃料油单独船舱或者单一装载容器样品(多个),A2样指A1样之配比混合样品。燃料油入库后,指定检验机构对混合后指定交割油库内的燃料油(C样)再次取样、化验并出具检验报告。如C样检测合格,表示货主交付的燃料油质量合格,货主所交付燃料油的质检报告为C样检验报告。
If Sample C is nonconformant, the certified assayer shall test Sample A and Sample B, with one of the following four outcomes: 如C样检测不合格,指定检验机构应当对A样和B样进行化验,结果分以下四种情况:
(a) Sample A conformant and Sample B nonconformant. This means the fuel oil delivered by the owner is of satisfactory quality. The designated delivery oil depot shall be held accountable for the nonconformant, mixed fuel oil in the depot, and bear the assay expenses for Samples A and B. (1)如A样合格、B样不合格,表示货主交付的燃料油质量合格,指定交割油库对混合后的库内燃料油质量不合格承担责任,A、B样的检验费用由指定交割油库承担;
(b) Sample A nonconformant and Sample B conformant. This means the fuel oil delivered by the owner is of unsatisfactory quality. The owner shall be held accountable for the nonconformant, mixed fuel oil in the depot, and bear the assay expenses for Samples A and B. (2)如A样不合格、B样合格,表示货主交付的燃料油质量不合格,货主对混合后的库内燃料油质量不合格承担责任,A、B样的检验费用由货主承担;
(c) Both Sample A and Sample B are conformant. This means the fuel oil delivered by the owner is of satisfactory quality. The designated delivery oil depot shall be held accountable for the nonconformant, mixed fuel oil in the depot, and bear the assay expenses for Samples A and B. (3)如A样合格、B样合格,表示货主交付的燃料油质量合格,指定交割油库对混合后的库内燃料油质量不合格承担责任,A、B样的检验费用由指定交割油库承担;
(d) Both Sample A and Sample B are nonconformant. This means neither the fuel oil delivered by the owner nor that held by the designated delivery oil depot before the load-in are of satisfactory quality. The owner and the designated delivery oil depot shall be held jointly accountable for the nonconformant, mixed fuel oil in the depot, and respectively bear the assay expenses for Sample A and Sample B. (4)如A样和B 样均不合格,表示货主交付的燃料油和库内原有燃料油质量均不合格,货主和指定交割油库对混合后的库内燃料油质量不合格共同承担责任,A样的检验费用由货主承担,B样的检验费用由指定交割油库承担。
In all these four scenarios, Sample A will be deemed nonconformant if any sample from Sample A1 and Sample A2 fails the test. In this case, the testing report for Sample A shall serve as the assay report for the fuel oil delivered by the owner. 在以上四种情况下,A1样或者A2样中其中有一个样检验不合格,即认为A样不合格,货主所交付燃料油的质检报告均为A 样检验报告。
(ii) The weight of fuel oil loaded in shall be as measured by the shore tanks of the designated delivery oil depot. (二)入库重量检验,以指定交割油库岸罐计量为准。
Article 14 The owner shall ensure the fuel oil it delivers meets the quality standards of the Exchange, and assume full responsibilities and liabilities arising from a material quality degradation (i.e., failing to meet the quality standards of the Exchange) of the entire tank of fuel oil due to the nonconformant quality of the fuel oil it delivers.   第十四条 货主应当确保所交割燃料油达到交易所规定的质量标准。因货主交割燃料油质量不合格而导致整个油罐内燃料油变质(达不到交易所规定的质量标准)的,货主应当承担全部责任。
Article 15 The owner shall oversee the load-in of its fuel oil into the designated delivery oil depot or be deemed to have agreed with the testing results of the certified assayer.   第十五条 燃料油入库时,货主应当到指定交割油库监收;货主不到指定交割油库监收的,视为货主同意指定检验机构的检验结果。
Article 16 The owner shall provide the original or photocopy of such required documentation for delivered products as the testing certificate issued by the certified assayer, bill of lading, goods inspection certificate issued by the loading port, customs load-in approval document, and inspection certificate for bonded pre-mixed marine fuel oil, which will be returned by the Exchange after being verified and photocopied.   第十六条 货主应当提供指定检验机构出具的检验证书、提单、装运港商检证书、海关入库核准单证、保税调和船用燃料油商检证书等相关交割商品必备单证的原件或者复印件。交易所核实验证后留存复印件。
Article 17 After load-in and acceptance of fuel oil, the member shall bring the required documentation for delivered products to the Exchange for review and verification. Once it is verified, the Exchange will instruct the designated delivery oil depot to issue bonded standard warrants through the Standard Warrant System.   第十七条 入库完毕并验收合格后,会员持交割商品必备单证到交易所办理审批手续。交易所批准后,通知指定交割油库在标准仓单管理系统中签发保税标准仓单。
Article 18 Bonded standard warrants for fuel oil are valid till the last delivery month of the second year following effectiveness, after which month the underlying fuel oil will be converted to spot product.   第十八条 燃料油保税标准仓单有效期限为保税标准仓单生效年份的第二年的最后一个交割月份,超过期限的转作现货。
A designated delivery oil depot shall transfer fuel oil underlying expired bonded standard warrants to the spot fuel oil tank. 指定交割油库应当将超过保税标准仓单有效期限的燃料油转入现货油罐。
Article 19 Delivery Procedures   第十九条 交割程序
Physical delivery of fuel oil shall be completed within the five business days following the contract's last trading day, referred to as the first delivery day, the second delivery day, the third delivery day, the fourth delivery day, and the fifth delivery day. The fifth delivery day is the last delivery day. 燃料油的交割应当在期货合约最后交易日后的连续五个工作日内完成。该五个交割日分别称为第一、第二、第三、第四、第五交割日,第五交割日为最后交割日。
(i) The First Delivery Day (一)第一交割日
(a) The buyer shall submit to the Exchange a letter of intent for the products it intends to take-delivery. 1、买方在第一交割日内,向交易所提交所需商品的意向书。
...... ......

Dear visitor, you are attempting to view a subscription-based section of lawinfochina.com. If you are already a subscriber, please login to enjoy access to our databases. If you are not a subscriber, you can pay for a document through Online Pay and read it immediately after payment.
An entity user can apply for a trial account or contact us for your purchase.
Tel: +86 (10) 82689699, +86 (10) 82668266 ext. 153
Mobile: +86 13311570712
Fax: +86 (10) 82668268
E-mail: database@chinalawinfo.com

 
您好:您现在要进入的是北大法律英文网会员专区。
如您是我们英文用户可直接 登录,进入会员专区查询您所需要的信息;如您还不是我们 的英文用户;您可通过网上支付进行单篇购买,支付成功后即可立即查看本篇内容;
单位用户可申请试用或者来电咨询购买。
Tel: +86 (10) 82689699, +86 (10) 82668266 ext. 153
Mobile: +86 13311570712
Fax: +86 (10) 82668268
E-mail:database@chinalawinfo.com
     
     
【法宝引证码】        北大法宝en.pkulaw.cn
Message: Please kindly comment on the present translation.
 
Confirmation Code:
Click image to reset code
 
  Translations are by lawinfochina.com, and we retain exclusive copyright over content found on our website except for content we publish as authorized by respective copyright owners or content that is publicly available from government sources.

Due to differences in language, legal systems, and culture, English translations of Chinese law are for reference purposes only. Please use the official Chinese-language versions as the final authority. Lawinfochina.com and its staff will not be directly or indirectly liable for use of materials found on this website.

We welcome your comments and suggestions, which assist us in continuing to improve the quality of our materials as we dynamically expand content.
 
Home | About us | Disclaimer | Chinese