5.3.1 Title Documents and Transfer of Title

The Exchange accepts no liability and does not guarantee the satisfactory discharge of any physical delivery obligations under any deliverable Futures Contract. The Exchange further disclaims any liability arising from or in connection with:

(a) the delivery or non-delivery of Title Documents by any Clearing Member; and
(b) any irregularities in the transfer of title in the underlying Commodity from the Seller to the Buyer.