When will the contra loss/gain be settled?
- Payment in (S$) from clients should be made by contract due date.
- Sales proceeds will be paid to clients on 1st market day after due date.
- Contra gains will be paid out on contra statement date + 1.
- No reversals are allowed once paid.
- Contra is allowed on the transaction day itself.
- Clients will receive a monthly statement of all their transactions done in that month.
a. Contra gain will be credited to trading account or your designated bank account for non-ledger based trading accounts.
b. Contra loss will be deducted from trading account if there are sufficient funds.
c. Interest will be chargeable if contra loss is not settled within 7 calendar days,