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In order to expand overseas market for the domestic producers and the access of the traders and consumers to the same market IME has arranged exporting commodities trading ring as well. 

Exporting commodities trading floor procedure in IME: 

  • In the beginning and before any trade all the buyers and sellers should apply for registration in Iran Mercantile Exchange. 
  • Trading on the IME must be done through an IME broker member 
  • For information of all traders and consumers around the world, IME is obliged to inform publicly via his website the offer of the exporting commodities data, confirmed by the seller and provided by the seller’s broker, 3 working days before offer date at trading floor 
  • At the time of receiving order from the buyer, the buyer’s broker is bound to obtain min 5% of the equivalent value of the contract according to the last transaction price and an advance payment. All the fees, charges and possible penalties described in this instruction will be compensated from this amount paid as advance payment by the buyer. 
  • All transaction will be settled by the clearing house of IME  
  • Cash settlement: within max 5 days from the date of transaction, the buyer should effect payment to the account of the seller through its broker and IME will settle the transaction against written confirmation of the seller, confirming that the whole sum is received from the buyer 
Commodity Exchange

Note: in case of non-payment within the required period (5days), IME shall calculate a daily penalty equivalent to 0.25% of the value of the value of the contract effective from the date of the execution of the transaction for 10 days and the amount of penalty shall be paid by the buyer through its broker. 

In case of non-payment within 10 days, the contract will be considered null and avoid and the buyer’s broker is obliged to pay all the relevant fees and a total penalty equivalent to 2.5% of the contract value to the seller via IME. 

  • Settlement through LC or Bank guarantee: the buyer is required to submit the “preadvice” within maximum 5 days after execution of the transaction and to submit the FullTelex or Bank Guarantee to the seller within 10 days latest. In case the buyer fails to open a workable LC or issue Bank Guarantee in favor of the seller within the required period (10 days), IME shall calculate a penalty equivalent to 0.25% of the value of the contract calculable on a daily basis effective from the date of execution of the transaction until the permitted period (10 days) and the amount of penalty shall be paid to seller through buyers broker. 
  • In case the LC is not established or Bank Guarantee is not submitted within 10 days, the contract will be considered null and avoid and the buyer broker is obliged to pay all the relevant fees and a total penalty equivalent to 2.5% of the contract value to the seller via IME. - The seller is obliged to deliver the traded goods to the buyer after the settlement is completed within 72 hours from the delivery date mentioned in the offer notification and in case