negotiated purchase

(8)The term “negotiated purchase” means a cash or spot market purchase by a packer of livestock from a producer under which— (A)the base price for the livestock is determined by seller-buyer interaction and agreement on a day; and (B)the livestock are scheduled for delivery to the packer not later than 14 days after the date on which the livestock are committed to the packer.

Source

7 USC § 1635a(8)


Scoping language

In this subchapter
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