| Members of the LRBA have pooled their experience in order to produce
a standard contract to be used as the basis for international rice
transactions. It was drawn up with the help of Hill Taylor
Dickinson, who are well-known and highly regarded lawyers in the
field of commodities. The contract is available for the rice
industry to use for free and is downloadable. It is reviewed
annually and any amendments will be posted on the website. The
contract includes arbitration under GAFTA 125 rules, which is
administered by GAFTA.
We hope you appreciate this contract and its versatility, as you
will find it can be used both as a Cost & Freight and as an FOB
contract and parties to the contract can mutually agree on clauses
they wish to include or omit.
NOTE: Contract has been amended as of 1st November 2008
the contract terms