‘Wafra’ has been providing Future Sales Services since 2005, according to the conditions and laws laid out for the Kuwait Stock Exchange.
These contracts follow trading policies which mean they are traded after the official working hours of the Kuwait Stock Exchange.

(Contract of Future Sales)

1.The above-mentioned information is an integral part of this Contract.
2.The Buyer admits that the shares mentioned in the contract are owned by him and he has full rights over them.
3.The Buyer is committed to deliver a partial down-payment (for forward services to the Clearing Company at the specified date shown above) and the Seller is committed to deposit shares mentioned in the contract on the same date.
4.The Buyer is committed to deliver the balance amount due to the Clearing Company during official working hours on the date of maturity shown above, unless he requests to terminate or redeem his shares, prior to the mentioned date.
5.In cases of early settlement, the client has the right to claim due interest rates on the remaining period specified in the contract, with the condition that the remaining period is not less than 90 days.
6.The contract will be terminated due to following conditions:
  oIf the period of the Forward Services expire without the balance payment duly completed. 
  oIf the Buyer requests to terminate the contract during above agreed terms.
  oIf the share value mentioned in the contract declines, along with the value of dividend received during the said period, and is less than the value of the amount due, unless the Buyer pays 10% of the remaining due amount specified in the contract, within the 24 hours notice issued by the Broker.
7Rights Shares issue for shares mentioned in the Contract should be deposited in the Clearing Company and to be delivered to the Buyer, if he pays the remaining amount due, within the specified time-frame. And this is to be returned to the Seller; along with the shares, should the contract expire without paying the remaining amount due. The Clearing Company will collect cash dividends and subtract it from the remaining amount which is due.
8The ownership of the shares mentioned in the contract will be transferred to the Buyer if he pays the remaining amount due within the agreed period. He can then re-sell all or part of his shares in the market, during the time specified, so that he may use the proceeds to pay the balance amount due through the Clearing Company.
9The Buyer has the right to use share voting rights, mentioned in the contract for nomination, voting rights and capital increase, if said request is made before the deadline specified for nomination voting rights and capital increase, with a three-day prior notice, along with the Buyer’s commitment to pay the value of allotted shares for the purpose of capital increase.
10This contract does not give the Buyer any separate rights, with regard to the shares mentioned in the contract and accordingly, the Buyer has no authority to act on his own behalf.
11This contract is subject to that not being mentioned in the decision number 2004 (17) regarding organizing Dealing in Forward Services.
12The Specialized Governing Committee for Arbitration for Legal Disputes, arising in the Market, has the final say over any dispute resulting from this contract.
13The Buyer is not allowed to act in the said shares mentioned in the Contract until the following trading day.
14The Buyer must inform the Seller in the case of settling shares mentioned in the Contract in all cases during trading period on the Settlement Day, otherwise he will be subject to a financial penalty.
15It is the Buyer’s responsibility to continue following his contract maturity whether pertaining to the date of expiry or the requirement to increase front payments.