Murrumbidgee Water Exchange Rules

General Rules

1. The Exchange operates from 9:00 am—5:00 pm on normal business days during the water trading season.

2. All application forms and documentation pertinent to the Murrumbidgee Water Exchange must be signed by all registered proprietors. If not, documentation will be returned for completion.

3. Each application form contains a unique serial number. Application forms containing duplicate serial numbers will NOT be accepted, and will be returned to the applicant.

4. Application forms may be faxed.

5. The serial number of the applicable transfer must be quoted when making any enquiries.

6. Buyers and sellers must be eligible to transfer water in order to participate in the Murrumbidgee Water Exchange.

7. Murrumbidgee Water Exchange will not be responsible for water that is traded prior to the processing of any Withdrawal or Price Alteration applications.

8. The nominated price per megalitre for water to be bought or sold must be in whole dollars.

9. Commission of 2.5% (plus GST) is applicable for all buyers and sellers with a minimum commission of $50 (plus GST). The buyer pays any transfer fees.

10. Applications to buy or sell will be registered on receipt by Murrumbidgee Water Exchange. The Exchange website will be updated at least twice a day (prior to 11:00 am and 4:00 pm) during normal business days.

11. The applicant authorises the Murrumbidgee Water Exchange to sign on their behalf any application for the transfer of water in the form of the appropriate document as required by the Regulating Authority.

Buyer Board

1. Applications for registration on the Murrumbidgee Water Exchange Buyer Board must be completed on an appropriate form.

2. By making a bid for water, you are committed to purchasing that water.

3. Upon notification of a successful sale full payment must be received into our account within 2 working days. Murrumbidgee Water Exchange reserves the right to request upfront payment with registration of a buyer bid.

4. Upon successful purchase of water, water will be transferred to the owners licence, unless otherwise instructed.

5. Buyers can nominate to purchase water internally only(within own irrigation licence/State water licence) or internally and externally(inter-vally, intra-valley and interstate).

6. All bids must be whole dollars only.

7. Buyers will be listed on the Murrumbidgee Water Exchange in descending order of price and where bids are identical, in order of receipt.

8. A Buyer can withdraw a bid by completing a “Buyer Withdrawal of Bid” form (subject to “7” in “General Rules” above).

Sellers

1. Sellers will be paid within ten working days of transfer approval.

2. It is the sellers' responsibility to monitor water listed on the Murrumbidgee Water Exchange.

3. Sellers can change price by completing a seller alteration of selling price form.

4. Sellers can withdraw offers for sale by completing a withdrawal of sale form.

5. Sellers can nominate to sell water internally only(within own irrigation licence/State water licence) or internally and externally(inter-vally, intra-valley and interstate).

   How to make payment to secure your bid

Payment can be made in one of the following ways

Direct Deposit

Deposits can be made electronically or at any branch of the Commonwealth Bank. Please fax or email advice of deposit and include your name on deposit advice. Our account details are as follows

 

BSBN: 062 548

ACCOUNT: 10233834

ACCOUNT NAME: Murrumbidgee Water Exchange Client Account

Please note - direct deposits may not clear into our bank account until the day following deposit.

Bank Cheque

 

To: Murrumbidgee Water Exchange

Mailed to PO Box 1059, GRIFFITH NSW 2680

Or delivered to Level 1, 381 Banna Avenue GRIFFITH NSW 2680

Transfers will not be lodged until payment is cleared to our account.