Delivery Contract Trading User Agreement

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Delivery Contract Trading User Agreement

Engaging in digital asset trading carries inherent risks, and understanding the terms under which services are provided is essential for every user. This Delivery Contract Trading User Agreement (the “Agreement”) outlines the binding terms between you (“User” or “you”) and OKX (collectively referred to as “we,” “our,” or the “Platform”) regarding your use of delivery contract trading services (the “Service”). By accessing or using the Service, you confirm that you have read, understood, and agreed to be legally bound by this Agreement.

1. Overview

1.1 Service Provision

The delivery contract trading services are provided by the OKX entity through which you have opened your account, subject to your jurisdiction, completed KYC/KYB level, and applicable regulatory frameworks.

1.2 Binding Legal Terms

This Agreement governs your use of the Service and related functionalities. Your continued access constitutes acceptance of all terms, including any future amendments made unilaterally by OKX. If you do not agree with any part of this Agreement or reject OKX’s right to update these terms, you must immediately cease using the Service.

1.3 Integrated Terms and Policies

This Agreement incorporates by reference OKX’s system guidelines, service rules, policies, announcements, and other operational documents. These materials become effective upon publication and form an inseparable part of this Agreement. You acknowledge that your use of the Service indicates full acceptance of all applicable terms, including but not limited to user agreements, trading rules, privacy policies, and risk disclosures.

1.4 Complete Understanding

Together with any applicable user agreements, this document constitutes the entire understanding between you and OKX concerning your use of the Service across all access methods.

1.5 Relationship with Other Agreements

This Agreement supplements OKX’s general Terms of Service. In the event of any conflict, this Agreement shall prevail. All undefined terms shall carry the meanings set forth in the main OKX Terms of Service unless otherwise specified herein.

2. Eligibility to Use the Service

To utilize the Service, you must meet certain criteria:

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You also agree not to use the Service for any illegal purposes, including money laundering, fraud, terrorist financing, market manipulation, or other prohibited activities.

3. Risk Management

OKX employs multiple risk control mechanisms to ensure platform stability and fairness, including:

These measures may be updated at any time. Users will be notified if significant changes require explicit consent before continued access.

If your open positions or pending orders accumulate to a level deemed systemically risky, OKX reserves the right to cancel orders or partially or fully close positions without prior notice.

4. Using the Service

4.1 Contract Mechanics

Delivery contracts allow you to buy or sell digital assets at a predetermined price on a specified future date. Leveraged trading enables amplified exposure by borrowing assets against collateral deposited into your margin account. You grant OKX a continuing security interest in your margin assets.

4.2 Order Execution

Orders can be placed via web interface, mobile app, API, or other supported channels. Once executed:

All executed orders are final and cannot be modified or canceled.

4.3 Interest and Fees

Interest accrues hourly on borrowed amounts and is deducted automatically. Rates are determined based on current market conditions and platform policies.

4.4 Weekly Settlement

Unsettled weekly delivery contracts are automatically closed every Friday at 08:00 UTC. The settlement price is calculated as the arithmetic average of BTC/USDT or relevant index prices during the preceding hour. Profits or losses (Realized P&L) are credited immediately to your balance and become withdrawable.

4.5 Daily Settlement for Select Contracts

For enhanced user experience, daily settlements apply to specific contracts in cross-margin mode, including:

Settlement occurs daily at 08:00 UTC:

Position size remains unchanged; final delivery still occurs at contract expiration.

4.6 Borrowing Risks

Depending on your equity level and unrealized P&L, automatic borrowing may lead to liabilities exceeding interest-free thresholds, potentially triggering forced repayments. Monitor your positions closely to avoid margin calls.

4.7 Margin Enforcement

Failure to maintain required margin levels authorizes OKX to sell your collateral—digital assets, fiat currency, or both—to cover shortfalls. You remain liable for any remaining deficit after liquidation.

4.8 Market Anomalies

In cases of extreme volatility or index disruptions prior to settlement or delivery, OKX may adjust timing or execution methods commercially reasonably without advance notice.

4.9 Applicable Rules

All orders are subject to current trading rules published by OKX.

4.10 Violation Consequences

OKX may suspend or terminate access to the Service or your account if you breach this Agreement or violate platform policies.

4.11 Collateral Use

Your margin serves as security for all obligations arising from leveraged trading activities.

4.12 Leverage Provision

OKX may provide leverage—multiplying your trading power beyond your deposited collateral. Leverage ratios are determined solely at OKX’s discretion.

4.13 Regulatory Limits

Maximum leverage is constrained by applicable laws in your jurisdiction.

4.14 Leverage Updates

Changes to leverage will be reflected in your trading interface within a reasonable timeframe.

5. Repayment and Return of Margin

5.1 Voluntary Repayment

You may repay borrowed assets—fully or partially—at any time along with accrued interest.

5.2 Margin Release

Upon full repayment, OKX releases corresponding margin back to your account. Locked funds are unfrozen after debt clearance or position closure.

Partial repayments allow continued service usage as long as minimum margin requirements are met.

5.3 Final Settlement Upon Exit

If you discontinue using the Service or it is terminated for any reason, you authorize OKX to deduct outstanding principal, interest, trading fees, and other dues from your margin balance.

6. Security Interest

You hereby:

This security interest remains enforceable regardless of interim payments and supplements any other guarantees OKX may hold.

You agree to execute additional documentation upon request to perfect OKX’s rights and appoint OKX as your irrevocable attorney-in-fact for actions necessary to protect its interests, including signing transfers, receiving claims, and initiating legal proceedings when deemed necessary.

7. Representations and Warranties

You represent and warrant that:

  1. Margin assets are legally sourced and free of disputes.
  2. No liens, pledges, or encumbrances exist on deposited assets.
  3. Assets are not subject to litigation, seizure, freeze, or enforcement actions.
  4. You will not infringe upon OKX’s rights.
  5. You are not listed on any government or international sanctions list.
  6. You will promptly notify OKX in writing if changes in law render these statements inaccurate.

Violation of these warranties entitles OKX to suspend services and seek compensation for resulting losses.

8. Limitation of Liability

8.1 Risk Disclosure

You acknowledge that:

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8.2 User Responsibility

You assume full responsibility for all transactions and account activity. OKX disclaims liability for any gains or losses incurred through use of the Service.

8.3 Withdrawal Timing

Delays in asset receipt post-withdrawal are beyond OKX’s control; no liability is assumed.

8.4 Term Modifications

OKX may update this Agreement at any time. Continued use implies acceptance. No responsibility is accepted for user misunderstandings due to failure to review updates.

8.5 Service Disruptions

OKX is not liable for losses caused by:

OKX retains discretion to reject or cancel orders during abnormal conditions.

8.6 Technology Risks

Underlying blockchain protocols are open-source and beyond OKX’s control. Unexpected upgrades or forks may affect asset accessibility or value. You are responsible for staying informed.

Operational challenges—including traffic surges or cyberattacks—may impact service quality. You accept associated risks.

8.7 Prohibited Activities

OKX strictly prohibits:

OKX may take corrective actions—including trade reversals, account restrictions, or fund restitution—without liability for resulting losses.

8.8 No Liability for Risks

OKX assumes no responsibility for losses stemming from risks outlined in this section.

Frequently Asked Questions (FAQ)

Q: What happens if my position gets liquidated?
A: If your margin falls below maintenance levels, OKX will automatically close your position to prevent further losses. You remain responsible for any negative balance after liquidation.

Q: How often are contracts settled?
A: Weekly contracts settle every Friday at 08:00 UTC. Certain major pairs like BTC-USDT also undergo daily settlement at the same time under cross-margin mode.

Q: Can I reduce my leverage during a trade?
A: Yes—you can manually adjust leverage settings before opening a new position or via the position management panel while holding an open trade.

Q: Are there fees for daily settlement?
A: No. Daily settlement incurs no additional costs. It only updates your entry price and credits realized profits/losses.

Q: What should I do if I suspect unauthorized activity?
A: Immediately secure your account with two-factor authentication and contact support at [email protected].

Q: Does OKX offer financial advice?
A: No. All information provided is for informational purposes only. Consult independent legal, tax, or financial advisors before making investment decisions.

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9. Indemnification

You agree to defend, indemnify, and hold harmless OKX and its affiliates from any claims arising from:

This includes reasonable legal fees incurred in defending against such claims.

10. Not Financial Advice

Nothing in this Agreement constitutes business, legal, tax, or investment advice. OKX does not act as your broker, advisor, or fiduciary. Always conduct independent due diligence and consult professionals before making financial decisions.

11. Third-Party Websites

Links to external sites do not imply endorsement. OKX is not responsible for content accuracy, privacy practices, or service quality on third-party platforms. Use them at your own risk.

12. Governing Law

This Agreement is governed by the laws of England and Wales, without regard to conflict-of-law principles.

13. Jurisdiction and Dispute Resolution

13.1 Mediation

Disputes shall first be submitted to mediation via the Hong Kong International Arbitration Centre (HKIAC) under its current mediation rules.

13.2 Arbitration

If unresolved within 90 days, disputes shall proceed to binding arbitration under HKIAC’s institutional rules at the time of filing.

13.3 Arbitration Details

13.4 Limited Disclosure

OKX shall not be required to produce general document discovery—only specific, relevant files essential to the dispute.

13.5 Finality

Arbitration awards are final and enforceable in any competent court.

14. Miscellaneous

14.1 Integrated Rules

System specifications and supplementary rules published by OKX form part of this Agreement upon release.

14.2 Amendments

OKX may modify this Agreement unilaterally at any time without notice. Continued use constitutes acceptance of changes.

14.3 Communications

Formal communications should be sent via email to [email protected] in English unless otherwise agreed.

14.4 Severability

If any provision is invalid in a jurisdiction, it shall be reformed to comply with minimum legal requirements without affecting other provisions.

14.5 Waiver

Failure to enforce a right does not constitute waiver of that right.

14.6 Assignment

You may not transfer rights under this Agreement without prior written consent from OKX.

14.7 Headings

Section titles are for convenience only and carry no legal weight.

14.8 Language Control

In case of discrepancy between translations, the English version prevails.

14.9 Interpretation Rights

OKX holds sole and final authority in interpreting this Agreement.

Core Keywords: delivery contract trading, leveraged trading, margin account, risk management, liquidation process, digital asset derivatives, settlement mechanism