What a market-loss charge is
A market-loss charge covers a decline in the value of the metal between the time your price was locked and the time your order is cancelled or returned.
How it is calculated
We compare the locked price with the market value of the same product at the time of cancellation or return. The difference is the market-loss charge. We record the spot price and our quote at the time of calculation.
When it applies
A market-loss charge applies only to confirmed orders that are cancelled or returned after confirmation. It does not apply to orders cancelled before confirmation.
Documentation
We provide the spot price, our quote, and the calculation on request so that you can review the charge before you accept it.