Ishares Silver Trust's Suppliers recorded an increase in sales by 15.27 % year on year in Q2 2026, from the previous quarter, sales fell by -8.91 %, while their net margin rose to 5.94 % year on year, compared to the previous quarter Ishares Silver Trust's Suppliers had a lower net margin at -8.91 %,
Ishares Silver Trust's Suppliers recorded an increase in sales by 15.27 % year on year in Q2 2026, from the previous quarter, sales fell by -8.91 %, while their net margin rose to 5.94 % year on year, compare to previous quarter SLV's Suppliers had lower net margin at 5.94 %,
The Custodian is responsible for safekeeping the Trust’s silver. The Custodian
may keep the Trust’s silver at its vault premises in England or New York,
or at the vaults of any sub-custodian in England or New York, unless otherwise
agreed between the Custodian and the Trustee (with the Sponsor’s approval).
The Custodian may use sub-custodians to discharge its obligations to the Trust.
The Custodian is required to use reasonable care in the appointment of any sub-custodian.
Any sub-custodian must be a member of the London Bullion Market Association (“LBMA”).
The use of sub-custodians does not affect the Custodian’s liability to the
Trustee under the custodian agreement.
The Custodian has agreed to use reasonable care in the performance of its duties
under the custodian agreement and will only be responsible for any loss or damage
suffered by the Trust as a direct result of any negligence, fraud or willful default
on the part of the Custodian. The Custodian’s liability is limited to the
market value of any silver lost and the amount of any balance held on unallocated
basis at the time of the Custodian’s negligence, fraud or willful default.
None of the Custodian, its directors, employees, agents or affiliates will incur
any liability to the Trust if, by reason of any provision of any present or future
law or regulation of the United Kingdom or any other country, or of any governmental
or regulatory authority or stock exchange, or by reason of any act of God or war,
terrorism or other circumstance beyond the Custodian’s control, the Custodian
is prevented or forbidden from, or would be subject to any civil or criminal penalty
on account of, or is delayed in, performing its obligations to the Trust. The
Custodian has agreed to indemnify the Trustee for any loss or liability directly
resulting from a breach of the Custodian’s representations and warranties
in the custodian agreement, a failure of the Custodian to act or refrain from
acting in accordance with the Trustee’s instructions or any physical loss,
destruction or damage to the silver held for the Trust’s account, except
for losses due to nuclear fission or fusion, radioactivity, war, terrorist event,
invasion, insurrection, civil commotion, riot, strike, act of government or public
authority, act of God or a similar cause that is beyond the control of the Custodian.
The Custodian has agreed to maintain insurance in support of its custodial obligations
under the custodian agreement, including covering any loss of silver. The Custodian
has the right to reduce, cancel or allow to expire without replacement such insurance
coverage, provided that it gives prior written notice to the Trustee. In the case
of a cancellation or expiration without replacement, the required notice must
be at least 30 days prior to the last day of coverage. The Trustee has not received
from the Custodian any notice of reduction, cancellation or expiration of its
insurance coverage. The insurance is held for the benefit of the Custodian, not
for the benefit of the Trust or the Trustee, and the Trustee may not submit a
claim under the insurance maintained by the Custodian.
The Custodian has agreed to grant to the officers and properly designated representatives
of the Trustee and to the independent public accountants for the Trust access
to the Custodian’s records for the purpose of confirming the content of
those records. Upon at least ten days’ prior notice, any such officer or
properly designated representative, the independent public accountants for the
Trust and any person designated by any regulatory authority having jurisdiction
over the Trustee or the Trust is entitled to examine on the Custodian’s
premises the silver held by the Custodian and the records regarding the silver
held for the account of the Custodian at a sub-custodian. The Custodian has agreed
that it will only retain sub-custodians if they agree to grant to the Trustee
and the independent registered public accounting firm of the Trust access to records
and inspection rights similar to those set forth above. During the period covered
by this report, Inspectorate International Ltd. and Inspectorate American Corporation,
acting as authorized representatives of the Trustee pursuant to the foregoing
provisions, inspected the premises where the Trust’s silver is warehoused
and on April 22, 2015 issued their report summarizing their findings. Such report
was posted by the Sponsor on the Trust’s website.
