| 1. | VASPs providing VA Transfer and Settlement Services must be able to demonstrate alignment on relevant internationally accepted standards for financial market infrastructures, to VARA's satisfaction. |
| 2. | VASPs providing VA Transfer and Settlement Services must ensure that such services include satisfactory arrangements for securing the timely discharge of the obligations in the context of transactions for which it provides such services. |
| 3. | In complying with Rule II.G.1 above, VASPs providing VA Transfer and Settlement Services should have regard to their—
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| | a. | practices relating to settlement including, but not limited to, the conditions agreed with clients for the provision of VA Transfer and Settlement Services; |
| | b. | where relevant, arrangements for matching transfers and/or trades and ensuring that the parties are in agreement about such transfers and/or trade details; |
| | c. | where relevant, arrangements for making deliveries and payments in all relevant jurisdictions; |
| | d. | notwithstanding Rule II.H below, procedures to detect and deal with the failure of a client to settle in accordance with the conditions agreed; |
| | e. | arrangements for taking action to settle a transfer and/or trade if a client does not settle, in accordance with the conditions agreed; and |
| | f.
| arrangements for monitoring its clients' settlement performance.
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