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Farm Products

Fertiliser contracts

VOLATILITY of fertiliser prices has revealed a lack of understanding, consistency and enforceability in many purchase agreements. Farmers and suppliers have had unpleasant surprises when agreements were put to the test. The fertiliser industry has responded by developing a standard contract for the forward purchase of fertiliser. The Fertiliser Industry Standard Contract sets out the rights and obligations of each party and the remedy available if either party cannot meet its obligations. The process for dispute resolution is stated in the contract and the standard approach is arbitration.

See fifa.asn.au.

Topics:  farm products