Common use of Trade Rules Clause in Contracts

Trade Rules. The sale of Product to Buyer is made under, and is subject to, the trade rules or trade industry form contract identified in the Confirmation of Terms (such trade rules or form contract as amended and in effect from time to time, the “Trade Rules”), which are incorporated herein by this reference, except to extent the same are contradicted by these Terms. In the event of a conflict between these Terms and the Trade Rules, these Terms will govern. As used in the Confirmation of Terms, “AFOA” refers to the American Fats and Oils Association, and AFOA’s Trade Rules shall be those pertaining to Vegetable Oils (Domestic & Import Contract); “FOSFA” refers to Federation of Oils, Seeds and Fats Association Limited; “GAFTA” refers to The Grain and Feed Trade Association; and “NGFA” refers to the National Grain and Feed Association and NGFA’s Trade Rules shall be its Feed Trade Rules.