Terms of Trade Law and Legal Definition

According to 7 USCS § 1635d (Title 7 Agriculture; Chapter 38 Distribution and Marketing of Agricultural Products, Livestock Mandatory Reporting; Cattle Reporting), “the term "terms of trade" includes, with respect to the purchase of cattle for slaughter--

(A) whether a packer provided any financing agreement or arrangement with regard to the cattle;

(B) whether the delivery terms specified the location of the producer or the location of the packer"s plant;

(C) whether the producer is able to unilaterally specify the date and time during the business day of the packer that the cattle are to be delivered for slaughter; and

(D) the percentage of cattle purchased by a packer as a negotiated purchase that are delivered to the plant for slaughter more than 7 days, but fewer than 14 days, after the earlier of--

(i) the date on which the cattle were committed to the packer; or

(ii) the date on which the cattle were purchased by the packer.”