Contracts

The sector of international wholesale and foreign trade in cereals, oilseeds, animal feeds, etc. currently has 30 different form contracts and conditions for concluding trade agreements at its disposal. These include the so-called Unified Contract Terms for the German Cereals Trade, the Hamburger Futtermittel-Schlussscheine or the Grofor conditions.

The Grain Traders’ Association of the Hamburg Stock Exchange (VdG e.V.), together with the other grain and product exchanges, publishes the Unified Contract Terms for the German Cereals Trade. For almost 100 years these have formed the legal basis for the majority of contracts concluded in the German grain and feed trade. They contain the rights and obligations of buyer and seller alike. At the same time, they take into account the nature of the traded products, which as natural products are subject to greater environmental influences or quality fluctuations than standardized commercial goods.