Formula Marketing Arrangement [Agriculture] Law and Legal Definition
According to 7 CFR 59.100 [Title 7—Agriculture; Subtitle B -- Regulations Of The Department Of Agriculture; Chapter I -- Agricultural Marketing Service H1 (Standards, Inspections, Marketing Practices), Department Of Agriculture; Subchapter C -- Regulations And Standards Under The Agricultural Marketing Act Of 1946 And The Egg Products Inspection Act - Part 59 -- Livestock Mandatory Reporting; Subpart B -- Cattle Reporting],
(1) When used in reference to live cattle, the term "formula marketing arrangement" means the advance commitment of cattle for slaughter by any means other than through a negotiated purchase or a forward contract, using a method for calculating price in which the price is determined at a future date.
(2) When used in reference to boxed beef, the term "formula marketing arrangement" means the advance commitment of boxed beef by any means other than through a negotiated purchase or a forward contract, using a method for calculating price in which the price is determined at a future date.
Legal Definition list
Related Legal Terms
- 30-Year Contract [Agriculture]
- Abandoned Security Property [Agriculture]
- Acceptable Quality Level [Agricultural Marketing Service]
- Acceptance [Agricultural Marketing Service]
- Actual Yield [Agriculture]
- Adjusted Yield [Agriculture]
- Advisory Committe of Department of Agriculture
- Affiliated Business Arrangement
- After-Marketing
- Agricultural Cooperative Agreement [Agriculture]
