147 



Contract No. 



[NGFANo.2(Aug. 1990)] 



Sample Grain Purchase Confirmation Memorandum 



Bought From: 



on 



[Sellers Name(s)] 



(Date) 



(Address. City. State, Zip) 



Tills contract was made at 



(time) 



(place) 



elevator office, by . 



(SeOer or Agent) 



(Buyers Representative) 



Previously Agreed Upon Terms and Conditions 



The stalemenb abo^e and bekm are understood (o be an aocurate statement of the terms and conditxxis ol the agreement between *ig partes thereto 

 Fdue b advEe us mmeiialBly ot any discrepanaes. objections to or disagreement with such terms and condrtions shall be construed as acceptaiKS ol these 

 terms: 



1. — Grade arx) quaSty premiums and discounts to be estalHtshed at time of delivery by the buyer. 



2. — Buyers weights and grades to govern 



3 _ The Ml Nl MU M darnage diargeatile 10 the seller , In the case of lailutB to luffill this contract, will be the difference betweeii the contract pilce 

 and the tair martlet value at trie time of carKeHaton 



4. — AJI grain delivered under this contract shall be of merc*iantat)le quality, unadulterated and unrestncted from movement tn interstate 

 commerce within the meaning of the federal Food. Dnig and Cosmetics Act, Environmental Protection Agency tolerances, the U S Grain 

 Standartts Ad and applicable state law 



5. — tf any secunty Interests In the gr4in ansa and are made Known to ttietMyerttvoughnoOftcation prior to Redelivery of ttie grain, acceptance 

 ol the grain in fulfillment of this contract sliall be at the option of the buyer. Any Den notification received by the buyer prior to delivery of, 

 or payment for, the grain may be honored by the buyer 



e. _ The buyer has the right wittiout penalty, to delay Ifie time for accepting delivery and making payment under this contract il such delay 

 to caused by government regulation or actxxi, latxx strikes, note, insurrection, freight embargoes or transportation delays It s.hall be the 

 duty o( Ifw buyer lo accept delivery and make payment under Oils contract as soon as practicable after the cause lor delay has ceased 



7. — Any extension ot the delivery ome Is to be at the buyers option 



e. — Except as othetwBe presided herein. Ihis contract shall be sub)ect to the Trade Rules of the National iSrain and Feed AssodaOon (NGFA), 

 wl*li we Incorporated here»i. (A copy ol (he NGFA Trade Rules and Artxraton Rules ts available upon request j 



9. — The sole remedy for resolution ot any and al disagreement or disputes arising under the contract shall be through arbitration proceedings 

 before the htGFA under Die NGFA's Aitilralion Rules The dedsion and award determined through such art>tratk}n shall be final and 

 bkidinQ u|ion the txjyer sni seller. Judgment upon an arbttration award may be entered and enforced In any Court having lunsdictkyi 



if a matter not 



•weal. 



10. — This contract ehal be governed by, and construed In accordarxs with the laws of tt» State of _ 



attdreesed by the NGFA's Trade Rules or the Arbitration Rules is at issue 



1 1. — It B ^)reed Ihat the contract shall be buHlng on the heirs, personal representatives, successors and assignees of the parties hereto. 



We confirm purchase from you as noted ai>ove: 



(Company Name) 



By: 



Sailer shouM retain this copy 



