Negotiated Sale [Agricultural Marketing Service] 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 sale means “a cash or spot market sale by a producer of livestock to a packer under which the base price for the livestock is determined by seller-buyer interaction and agreement on a delivery day. The livestock are scheduled for delivery to the packer not later than 14 days after the date on which the livestock are committed to the packer. When used in reference to sales of boxed beef or lamb cuts or lamb carcasses the term "negotiated sale" means a sale by a packer selling boxed beef or lamb cuts or lamb carcasses to a buyer of boxed beef or lamb cuts or lamb carcasses under which the price for the boxed beef or lamb cuts or lamb carcasses is determined by seller-buyer interaction and agreement on a day.”
Legal Definition list
Related Legal Terms
- Absent Uniformed Services Voter
- Absolute Sale
- Acceptable Identification of Goods and Services Manual
- Acceptable Quality Level [Agricultural Marketing Service]
- Acceptance [Agricultural Marketing Service]
- Acceptance of Service Agreement
- Action for the Loss of Services
- Active Military Service
- Active Military, Naval, or Air Service
- Actuarial Services [Employee Retirement]
