02/05/2003
RATES AND CHARGES FOR COPPER
| Arizona Commodity Storage, Inc Utah Commodity Storage, Inc. |
Effective: March 1, 2003 |
| Handling Outbound per Short Ton: | $ 26.75 |
The following previously published charges for the handling and storage of copper remain unchanged.
| Monthly Storage Charge per Short Ton: | $3.85 |
| Handling Inbound per Short Ton: | $0.00 |
| Bill of Lading Preparation: | $7.00 |
| Issue of Original Warehouse Receipt: | $0.00 |
| Replacement of Warehouse Receipt: | $10.00 |
| Cancellation Charge per Shipment Cancelled: | $100.00 |
| Minimum Storage Charge per month | $40.00 |
| Insurance Premiums: | $0.00 |
| Blocking/Bracing for Outbound Shipments: | $0.00 |
Please be advised that the warehouses, at their discretion, may require storage and handling fees based on the new rates for all copper physically in storage as of the effective date. That is, the old rates are not grandfathered for copper already in storage prior to March 1, 2003.
Specific to handling out charges, invoices prepared by COMEX Clearing for warrants issued prior to March 1, 2003 will not call for reimbursements for handling out charges based on the new rates. Reimbursements for these warrants will be based on the old handling out rate because the warehouse was prepaid based on the old handling out rate. Though the warehouses have been prepaid the handling out charges based on the old rate, the party shipping the metal out on or after March 1, 2003 may owe the warehouses the difference between the old and new rates upon shipment, at the discretion of the warehouse. Clearing Members are advised to carefully review invoices to ensure that reimbursement payments are not made for charges that have not actually been prepaid by the market short.