Monday, Feb 23, 2009
We have listed a market on the departure of Tim Geithner as Secretary of the Treasury. This can be found under Politics -- Tim Geithner.
Contract Rules:
A contract will settle (expire) at 100 ($10.00) if Tim Geithner departs from his current position as Secretary of the Treasury before the date specified in the contract.
A contract will settle (expire) at 0 ($0.00) if Tim Geithner does not depart from his current position as Secretary of the Treasury before the date specified in the contract.
Expiry will be based on official public announcements from the White House and/or the Treasury, as reported in three independent and reliable media sources.
A departure may be forced or voluntary. A departure includes (but is not limited to):
- Resignation
- Retirement
- Dismissal from the position (i.e. being fired)
The departure must be permanent. If Tim Geithner takes a leave of absence, temorarily steps aside or is temporarily relieved of duty the contract will not be expired.
A resignation does not have to result in the individual actuallydeparting from their current position by the date specified in thecontract. The contract will expire when the resignation or retirementis announced, regardless of when it takes effect. A tendered resignation that is not accepted will cause the contract to expire at 0
These contracts do not cover the death of the person named in the contract. In the event of the named person's death before expirythe contract will be unwound, all trades reversed and all trading fees refunded.
Due to the nature of this contract please also see Contract Rule 1.7 Unforeseen Circumstances.
The Exchange reserves the right to invoke Contract Rule 1.8 (Time Protection) if deemed appropriate.
Any changes to the result after the contract has expired will not be taken into account - Exchange Rule 1.4
Please contact the exchange by emailing help@intrade.com if you have any questions regarding this contract before you place a trade