Processor contract.

Processor contract. A written agreement between the producer and a processor, or between the producer and a broker, containing at a minimum:
(a) The producer's commitment to plant and grow processing beans, and to deliver the bean production to the processor or broker;
(b) The processor's, or broker's, commitment to purchase all the production stated in the processor contract; and
(c) A base contract price.

Source

7 CFR § 457.155


Scoping language

None
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