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Grain Contract Policy 10/01/07 6:29:51 PM
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Grain Contracting Policies
- Pricing of grain contracts may be subject to management approval except during normal trading hours which are between 8:30a.m. Mountain time and 12:15 p.m. Mountain time, Monday through Friday excluding market holidays. Pricing is done off current market values or closing values before night sessions begin. You are welcome to place good-til-canceled pricing orders that work during all trading periods.
- Seller must advise Buyer immediately and confirm in writing within 10 days from receipt of contract, of any discrepancies, objections to or disagreement with the terms of the contract. Failure to do so shall be construed as acceptance of the contract.
- Grain Contracts are written for the delivery of physical grain.
- Under fills of contracts will be settled at the current markets replacement cost to be determined by management.
b. Grain contract over and underfills shall be settled upon final contract settlements prior to check writing.. There will be zero tolerance for being short bushels, this policy will be in place to treat all producers equaly, when contracting bushels out of the bin it is best to contract on the short side as to avoid any shortages.
c. There will be no rolling of contracts, the exception may be canceling and forward contracting at a reduced price as to cover the loss pending Legals Opinion. |
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