Physical contracts used in the international cocoa trade
Abstract:
The standard contracts and terms issued by the two main trade bodies, the Cocoa Merchants’ Association of America, Inc. and the Federation of Cocoa Commerce Ltd are described and their performance outlined. While concentrating on the contracts for cocoa beans including price fixation terms and terms for stored goods, the two main international cocoa product contracts are also outlined. Contract performance covers the pre-shipment procedures required for FOB contracts, and for all contracts, the declaration, documents required and payment terms.
Key words
Cocoa Merchants ’ Association of America (CMAA)
Federation of Cocoa Commerce Ltd (FCC)
physical contracts
cocoa beans ...
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