Common use of Perishable Agricultural Commodities Clause in Contracts

Perishable Agricultural Commodities. All perishable agricultural commodities sold to Supplier are sold subject to the statutory trust authorized by Section 5(c) of the Perishable Agricultural Commodities Act, 1930 (PACA) (7 U.S.C. §499e(c)). The seller of these commodities retains a trust claim over these commodities and all inventories of food or other products derived from these commodities until full payment is received.

Appears in 2 contracts

Sources: Contract, Contract