Numerco: U-Match

ID	Time (EST)	Venue	Price	Volume	Buyer	Seller
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Numerco’s Spot Uranium U3O8 Price:

Numerco’s uranium prices are its assessment of the bid, offer and mid-market value for delivery of U3O8 in industry standard packaging and meeting industry standard specifications for delivery at the three major Western conversion facilities of Cameco (Port Hope, Canada), Orano (Malvesi, France) and ConverDyn (Metropolis, USA).

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Uranium Concentrates U-Match Terms & Conditions

1. What’s Being Sold:
The Seller agrees to sell, and the Buyer agrees to buy, specified pounds of natural uranium concentrates in the form of U3O8.

2. Delivery Details:
The Seller will transfer the uranium to the Buyer on the weekday day closest to the 20th of the subsequent month, by moving it by converter book transfer from the Seller’s account to the Buyer’s account at the conversion facility specified in the transaction confirmation.
The Seller will inform the Buyer within two days of giving the delivery instruction to the plant.
The plant will confirm the delivery to the Buyer and include the transfer date, names of accounts, material origin, material form and weight.
If Something Goes Wrong with Delivery:
If the Seller doesn’t deliver, and it’s not due to a major uncontrollable event (see Section 7, Force Majeure), the Buyer can notify the Seller and find uranium elsewhere (this is called “Cover”). If the new uranium costs more, the Seller must pay the extra cost and related expenses.
If the Buyer doesn’t accept the delivery, the Seller can notify the Buyer and then sell the uranium to someone else (this is called “Resell”). If the Seller makes less money or has extra costs, the Buyer must cover the difference.

3. Price:
The Buyer will pay the price specified in the transaction confirmation in USD per pound of uranium in the form U3O8 delivered. This includes all costs up to delivery (like transport and insurance), but anything after delivery is the Buyer’s responsibility.

4. Payment:
- Buyer must pay in U.S. dollars on the same day as delivery, via wire transfer.
- Seller must provide payment instructions with invoice ahead of delivery.

5. Ownership & Risk:
Once the uranium is delivered, it belongs to the Buyer, and the Buyer takes on all risk.

6. Licenses & Economic Sanctions:
- Seller is responsible for getting all licenses to legally sell and deliver the uranium.
- Buyer is responsible for getting all licenses to legally receive it
Both sides agree to follow all relevant laws about economic sanctions and neither side will do anything that would cause the other to break those laws.
Nothing in this agreement means either side has to do (or not do) anything that would make them break the laws of the UK, Switzerland, EU, UN, Canada, or the USA — including rules about boycotts, anti-corruption, and sanctions.
Neither side will use money from this agreement to support any person, group, or business that is involved in, or based in, a country or region affected by economic sanctions.
In carrying out this agreement, both sides agree not to use child labour, forced labour, and to follow the law about the minimum working age.

7. Uncontrollable Events:
If something beyond either party’s control (like a natural disaster or war) stops them from doing their part, they won’t be held responsible, except for paying money. The affected party will advise of the cause and expected duration of the delay and try to minimise any consequences.

8. Promises:
Seller promises:
a) They legally own the uranium and there are no claims or liens on it.
b) The uranium won’t cause extra taxes (like anti-dumping duties).
c) The uranium is not from Russia and complies with U.S. and European laws.
Buyer promises:
a) The uranium will only be used for peaceful purposes.
b) They won’t try to use the material to get around U.S.-Russia trade rules.
Buyer and Seller promise that:
a) It is not, and is not owned or controlled by, someone listed on U.S. government blacklists - like the list of blocked persons, sanctions evaders, or sectoral sanctions lists.
(b) It is not connected to the governments or people of countries under broad sanctions — including Cuba, Iran, North Korea, Myanmar, Sudan, Syria, or Crimea — or any other place that’s under full trade or investment bans.
(c) It is not, and is not owned or controlled by, someone listed on the UK sanctions list or similar lists from Switzerland, the EU, Canada, or the UN.

9. Limits on Liability:
Neither side can claim special damages (like lost profits). Total liability is limited to the purchase price unless the Buyer fails to pay or either side invokes the replacement uranium or resell clauses (Section 2.4 or 2.5).

10. Taxes:
Seller pays all taxes due on the material before and up to delivery.
Buyer is then responsible for all taxes after the delivery.

11. Confidentiality:
Both sides will keep all contents of this agreement private unless required by law or needed for financing purposes.

13. Notices:
All communications will be in writing and sent to the addresses provided by each party during set up to the platform. Notices will be sent by mail or email with a signed PDF and are considered received when delivered.

14. Assignment:
Neither side can transfer this agreement without written permission from the other (except for financing purposes, with notice). Assigning the contract doesn’t remove any obligations.

15. Changes:
No changes are valid unless written and signed by both parties.

16. Governing Law & Disputes:
(a) The contract follows the laws of England.
(b) If there’s a dispute, the parties will try to resolve it by negotiation.
(c) If unresolved in 30 days, either party may take it to the UK High Court.

17. Entire Agreement:
This document is the full and final agreement. Anything discussed before doesn't apply unless it's written here.

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I agree to the Access Disclaimer & Platform Terms

U-Match — Access Disclaimer & Platform Terms

IMPORTANT — READ CAREFULLY. By clicking “I Agree”, you confirm that you have read, understood, and agree to be bound by these Access Disclaimer & Platform Terms (the “Terms”). If you do not agree, do not access or use the Platform.

1. Definitions
1.1. “Platform” means the electronic system, website, APIs, applications, connectivity, messaging, data, content, and related services made available by Numerco Limited (“Platform Operator”, “we”, “us”, “our”).
1.2. “Participant” means any person or entity (and its authorised users) accessing the Platform.
1.3. “Member-to-Member Transaction” means any transaction negotiated, indicated, arranged, or executed bilaterally between Participants, including any transaction in U3O8 for spot delivery (or any other product the Platform may display).

2. Platform is a Tool Only
2.1. The Platform is provided as a technology tool to facilitate transactions between Participants. The system is a tool with the user bearing responsibility for trading decisions and outcomes.
2.2. We are not a party to any Member-to-Member Transaction and do not (and will not be deemed to): (a) act as principal, fiduciary, or advisor for any Participant; (b) operate a central counterparty, clearing service, settlement service, escrow, custody, or payment service; or (c) guarantee performance, delivery, title, quality, specifications, payment, creditworthiness, or settlement of any Participant.
2.3. All Member-to-Member Transactions are entered into solely at Participants’ own risk, on terms they negotiate bilaterally (including any master agreements, confirmations, logistics, title transfer, inspection, and payment terms).

3. No Advice; Own Judgement
3.1. Nothing on the Platform constitutes investment advice, trading advice, legal, tax, accounting, regulatory, or other professional advice.
3.2. You are solely responsible for: (a) evaluating the merits, risks, suitability, and appropriateness of any transaction; (b) obtaining independent professional advice as needed; and (c) ensuring your internal approvals, mandates, and controls (including trading limits) are in place.

4. Eligibility and Authority
4.1. You represent and warrant that: (a) you have full power and authority to enter into these Terms and any Member-to-Member Transaction; and (b) each user accessing the Platform on your behalf is duly authorised and trained.
4.2. You are responsible for all activity conducted under your credentials and for maintaining secure access controls.

5. Regulatory and Compliance
5.1. You are solely responsible for compliance with all laws, rules, and regulations applicable to you, including sanctions, export controls, nuclear material safeguards, AML/CTF, and competition law.
5.2. You represent and warrant that you will not use the Platform to transact with any sanctioned person or prohibited destination, or engage in conduct that would cause us to breach applicable sanctions/export control regimes.

6. Data and Content — “As Is”
6.1. The Platform may display indicative bids/offers, market colour, and reference data. All content is provided “as is” and “as available”. We do not warrant that content is accurate, complete, timely, or fit for any purpose.
6.2. You acknowledge that electronic systems are subject to inherent limitations (overloads, delays, interruptions). You are solely responsible for verifying all transaction details independently before acting.

7. Outages and Errors
7.1. We do not guarantee continuous, uninterrupted, timely, secure, or error-free operation.
7.2. You acknowledge that missed trades, duplicated actions, delays, or erroneous displays can occur, and you accept those risks.

8. Liability for Transactions
8.1. We are not responsible for (and will have no liability arising from) any Participant’s statements, defaults, disputes, or any logistics, shipping, storage, or regulatory approvals relating to U3O8.
8.2. Participants must resolve disputes directly with each other.

9. Fees and Taxes
9.1. Any fees payable to us are as separately agreed. You are responsible for your own taxes, duties, and levies.

10. Limitation of Warranties
To the maximum extent permitted by law, we disclaim all warranties, express or implied, including implied warranties of merchantability, fitness for purpose, non-infringement, accuracy, completeness, and availability.

11. Limitation of Liability
11.1. Nothing in these Terms excludes liability for fraud or fraudulent misrepresentation.
11.2. Subject to clause 11.1, we will not be liable for: (a) indirect, consequential, special, punitive, or exemplary damages; (b) loss of profit, revenue, business, goodwill, data, or opportunity; or (c) losses arising from outages, cyber incidents, or counterparty defaults.
11.3. Aggregate Cap: Our total aggregate liability to you arising out of or in connection with the Platform and these Terms shall not exceed the total fees you paid to us for Platform access in the 12 months immediately preceding the event giving rise to the claim.

12. Indemnity
You agree to indemnify and hold harmless the Platform Operator against all claims, liabilities, and expenses (including legal fees) arising from your breach of these Terms, your Member-to-Member Transactions, or your violation of law.

13. Termination and Changes
We may suspend or terminate access immediately if we reasonably believe it is necessary for security or compliance. We may amend these Terms at any time; continued use constitutes acceptance.

14. Intellectual Property
We retain all rights in the Platform. No rights are granted except the limited right to access and use the Platform in accordance with these Terms.

15. Governing Law
These Terms are governed by the laws of England & Wales. The courts of England & Wales shall have exclusive jurisdiction.

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