Processor contract. A written agreement between the producer and a processor, containing at a minimum:
(a) The producer's commitment to plant and grow popcorn, and to deliver the popcorn production to the processor;
(b) The processor's commitment to purchase all the production stated in the processor contract;
(c) A date, if specified on the processor's contract, by which the crop must be harvested to be accepted; and
(d) A base contract price.
(a) For processor contracts that stipulate the amount of production to be delivered:
(1) In lieu of the definition contained in the Basic Provisions, a basic unit will consist of all the acreage planted to the insured crop in the county that will be used to fulfill contracts with each processor;
(i) There will be no more than one basic unit for all production contracted with each processor contract;
(ii) In accordance with section 13 of these Crop Provisions, all production from any basic unit in excess of the amount under contract will be included as production to count if such production is applied to any other basic unit for which the contracted amount has not been fulfilled; and
(2) Provisions in the Basic Provisions that allow optional units by section, section equivalent, or FSA farm serial number and by irrigated and non-irrigated practices are not applicable.
(b) For any processor contract that stipulates only the number of acres to be planted, the provisions contained in section 34 of the Basic Provisions will apply.