The National Commodity Clearing Limited (NCCL) on June 29, 2026, notified regarding the Settlement Calendar and timelines for submission of delivery intentions for all futures contracts expiring in July 2026.
The following has been stated:
• The circular specifies the expiry dates, staggered delivery intention period, physical settlement schedule, premium/discount settlement, GST settlement timelines, and invoice exchange process for commodities such as Bajra, Barley, Castor Seed, Cotton, Groundnut, Guar Gum, Guar Seed, Isabgol, Jeera, Maize, Sesame Seed, Steel and Yellow Peas. Members are required to submit delivery intentions via NCFE by 6:30 PM during the staggered delivery period, including the expiry day.
• Open positions at contract expiry will be subject to mandatory physical delivery, and sellers who fail to specify a delivery location will be allotted the base delivery location by default. The circular reiterates that delivery defaults will attract the penalties prescribed under NCCL Circular No. NCCL/CLEARING-023/2026, dated April 13, 2026, along with an additional 3% penalty for sellers who default despite holding approved warehouse stocks or having marked delivery intention. Repeated delivery defaults (three or more within a rolling six-month period) will attract an additional penalty of 3% of the default value for each instance.
• The circular also prescribes timelines for GST settlement, submission of invoices and other delivery documents, buyer confirmations, and provides that late fees will apply for delays in updating delivery-related information, while applicable GST on delivery default penalties will be collected along with the penalty amount.
[Notification no. - NCCL/CLEARING-041/2026]
