Claims as a result of penalties and fines
Partial Close and Claims
Counterparties should endeavour to settle partial sales of stock wherever possible (see IBP-307), and should accept partial returns or recalls. Counterparties will only be liable for 'sale fail' costs for the portion of the sale that fails due to an outstanding loan position which has been recalled and not delivered in the required timeframe.
It should be noted that in some markets, additional charges may be incurred for late settlements. Where these charges are incurred due to a failing recall, the failing party is liable. Equally if overdrafts are incurred the impacted party may consider raising a claim for any costs from the failing party. (IBP-140)
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