Thursday, Jun 25, 2009
We have listed a new market on the departure of Mark Sanford, the Governor of South Carolina who recently went AWOL in South America.
This market can be found under Politics -- Mark Sanford.
Contract Rules:
This contract will settle (expire) at 100 ($10.00) if Mark Sanford departs as Governor of South Carolina before midnight ET on the date specified in the contract.
The contract will settle (expire) at 0 ($0.00) if Mark Sanford does not depart as Governor of South Carolina before midnight ET on the date specified in the contract.
Expiry will be based on official announcements from Mark Sanford or South Carolina officials, 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
- Removal by costitutional process
The departure must be permanent. If the named individual 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 actually departing from their current position by the date specified in the contract. The contract will expire when the resignation or retirement is 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 expiry the 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