base price limit

#1
I saw the contract details of silver micro from MCX .

I got few doubts .....

What is daily price limit?
And it's states the base price limit will be 4% .when it is breached ,a relaxation will be allowed upto 6% without any cooling off period .if the base price limit of 6% is also breached means relaxation unpto 9% will be given with 15 minutes cooling off period.


What is cooling off period?
What is base price limit?
What happens if the seller doesn't delivery the promised goods?

I'll be very glad if anyone helped.I'm interested in buy silver in buying from MCX .
 

Similar threads