The fourth edition of the Canadian Canola Growers Association guide to understanding grain contracts is now available.
The 28-page Practical Guide to Navigate Grain Contracts covers topics such as the grading process, delivery terms and declarations, delivery penalties, access to land (such as for picking up grain or for sampling purposes), defaults, contract cancellation, acts of God and contract disputes.
The guide also contains sample clauses that highlight key elements.
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For example, it says buyers often include an option to extend a delivery period and while the average is 90 days, it can vary from 30 days to 180 days depending on the company and the contract offered.
The guide is free and can be downloaded at ccga.ca (opens as a PDF).
