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.”
