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Alternate Dispute Resolution Clauses in Commercial Contracts Originally
Published in Produce and the Law Summary: Alternate dispute resolution or "ADR" is the use of mediation, arbitration, or a combination of the two to resolve commercial disputes. An ADR clause is enforceable and effective in resolving disputes, provided you include it in your contracts. PRODUCE LAW 101: THE PACA TRUST and HOW IT WORKS Originally
Published in Produce and the Law Summary: The PACA Trust operates according to general trust law. Sellers who learn these general trust law principles will better understand the trust and how it operates, thereby increasing the rate of success in the recovery of past due receivables. USING THE PACA TRUST TO COLLECT PAST DUE INVOICES Originally
Published in the Newsflash Summary: The PACA Trust Statute is a very powerful tool which when used properly, gives produce sellers a unique and unprecedented opportunity to collect its delinquent accounts, especially when a buyer is on the verge of going out of business. INVOICES
DETERMINE PACA TRUST COMPLIANCE: Originally
published in the Produce Law Newsletter Summary: A seller's invoice is the most important document in a produce sale transaction. If the seller has a PACA license, the invoice can be used as the Notice of Intent to Preserve Trust Benefits. Further, it can provide a means by which the seller can recover interest, attorneys' fees and costs in the event litigation is necessary to enforce payment from the trust. We strongly recommend that you have an attorney review your invoices and other documents to ensure compliance with PACA Trust requirements. COURT ORDERS USE PACA TRUST OR LOSE ITS PROTECTIONS Originally
Published in the Western Grower and Shipper Summary: The US Appeals Court for the Seventh Circuit in Chicago ruled that produce sellers who enter into agreements to collect a past due debt that extends the time for payment by the produce purchaser beyond 30 days after acceptance lose their eligibility for coverage under the PACA trust. COMPLYING WITH STATE AND FEDERAL LAWS IN MARKETING AGREEMENTS Originally
Published in Produce Law Newsletter Summary: The Perishable Agricultural Commodities Act (PACA) and State laws govern the relationship between growers and their sales agents. These laws are designed to protect the rights of growers and require the parties to have a written agreement between them. By law, the extent of a shipper's authority as a grower's agent is limited absent a written agreement which explicitly sets forth what the grower authorizes the shipper to do in selling its produce. A well-constructed written agreement, which complies with all federal and state laws, will protect both the grower and shipper in the event any disputes arise. |
