Mailing of checks in payment for livestock purchased for slaughter, for cash and not on credit.
The Grain Inspection, Packers and Stockyards Administration (Packers and Stockyards Programs) recognizes that one who sells livestock to a packer, market agency, or dealer, who is purchasing for slaughter, may not intend to be present at the point of transfer of possession of the livestock, to receive payment, at the time a check in payment for such livestock may be delivered by the purchaser, and may not wish to authorize a representative to receive such a check; or for other reasons such a seller may prefer that such a purchaser make payment by mailing a check within the time limit as prescribed in section 409(a) of the Act. In cases when the seller does not intend to be present, he may use the following form of notification to the purchaser:
If the seller, for reasons other than not being present to receive payment, prefers to have the packer, market agency, or dealer make payment by mailing a check within the time limit as provided in section 409(a), he may use the above form but should not include the statement in the first sentence that he does not intend to be present.
The Grain Inspection, Packers and Stockyards Administration (Packers and Stockyards Programs) believes that such an agreement would not constitute an extension of credit within the meaning of section 206 of the Act because it would not give the purchaser any more time to issue a check than is provided in section 409(a).
(Approved by the Office of Management and Budget under control number 0580-0015)
(Sec. 401, 42 Stat. 168 (
7 U.S.C 221
); sec. 407, 42 Stat. 169 (
7 U.S.C. 228
); sec. 409, as added by sec. 7, 90 Stat. 1250 (
7 U.S.C. 228b
); 7 CFR 2.17, 2.54
; 42 FR 35625; Pub. L. 96-511, 94 Stat. 2812 (
44 U.S.C. 3501
7 U.S.C. 222 and 228 and 15
[42 FR 49929, Sept. 28, 1977, as amended at 49 FR 39516, Oct. 9, 1984; 68 FR 75388, Dec. 31, 2003]