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Buying fibre, step 6 of 12

Negotiate

Price or basis, the spread, the tolerance, the quality terms, the weight terms, and who arbitrates.

The contract terms are between you and the merchant; these are the clauses to insist on, in plain words:

  • The rules. Most international cotton contracts run under the International Cotton Association’s rules; saying so up front decides how any dispute is settled.
  • Shipped or landed weight. Whether you pay on the weight loaded or the weight received. Cotton loses moisture at sea, so the two differ, and the contract must say which one is money.
  • Quality arbitration. Who re-tests a disputed lot, and whose instrument is final.
  • Tolerance. The plus or minus allowed on the quantity and on each fibre property, without which every delivery is a matter of opinion.
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