Negotiated Grid Purchase [Agriculture] Law and Legal Definition
According to 7 CFR 59.30 [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 A -- General Provisions], negotiated grid purchase, in reference to cattle means “the negotiation of a base price, from which premiums are added and discounts are subtracted, determined by seller-buyer interaction and agreement on a delivery day. The livestock are scheduled for delivery to the packer not more than 14 days after the date on which the livestock are committed to the packer.”
Legal Definition list
Related Legal Terms
- 30-Year Contract [Agriculture]
- Abandoned Security Property [Agriculture]
- Acquisition Cost of an Item of Purchased Equipment
- Actual Yield [Agriculture]
- Adjusted Yield [Agriculture]
- Advisory Committe of Department of Agriculture
- Affiliated Purchaser
- Agricultural Cooperative Agreement [Agriculture]
- Agriculture Acquisition Regulation [AGAR]
- Agriculture Conservation Experienced Services Program
