Truly and Correctly to Account [Agricultural Marketing Service] Law and Legal Definition

According to 7 CFR 48.2 [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 B - Marketing Of Perishable Agricultural Commodities ; Part 48 - Regulations Of The Secretary Of Agriculture For The Enforcement Of The Produce Agency Act; Definitions] “Truly and correctly to account” means, “unless otherwise stipulated by the parties, that the consignee of produce shall, within ten days after the final sale is made of any produce received for sale on consignment in interstate commerce or in the District of Columbia, render to the consignor thereof a true and correct itemized statement of the gross sales as well as all selling charges and all other charges or expenses paid and a statement of the net proceeds or deficit, and make full payment to the consignor of the net proceeds so received together with a full explanation of the disposition of any and all produce not sold.”