Deferred price contract means a contract for the pro- curement of grain under which a grain dealer takes custody or con- trol of producer grain more than 7 days before the price of that grain must be determined under the contract.
Deferred price contract means a contract for the sale of commodities that conveys the title and all rights of ownership to the commodities represented by the contract to the buyer, but allows the seller to set the price of the com- modities at a later date based on an agreed upon relationship to a future month's price or some other mutually agreeable method of price determination. Deferred price contracts include but are not limited to those contracts commonly referred to as delayed price, price later contracts, or open price contracts.
Deferred price contract means a contract for the sale of grain from a producer to a grain dealer under which the grain dealer takes custody of the grain before the grain dealer and the producer agree on the price that the grain dealer will pay for the grain.
More Definitions of Deferred price contract
Deferred price contract means a contract for the pro- curement of grain under which a grain dealer takes custody or con-
Deferred price contract. (DPC) means that the farmer agrees to deliver the tonnage to the depot as agreed in the contract. The purpose of a DPC is to enable the farmer to manage his exchange rate properly and not for speculation purposes.
Deferred price contract means a contract for the sale of grain from a