A new, revised edition of the International Cotton Association’s (ICA) Bylaws & Rules for cotton trading becomes effective April 1.
The majority of the world’s cotton is traded internationally under ICA Bylaws & Rules, which were developed to create a safe trading environment and protect the legitimate interests of all those who trade cotton.
According to ICA, the revised rules were reviewed and approved by association members in February, and will apply to all contracts made on or after April 1. Several changes have been introduced, particularly within the arbitration section.
Designed to be applied to contracts covering the purchase and sale of cotton between any two companies anywhere in the world, the Bylaws & Rules are published in a variety of languages. The English language version of the new rules is now available online, with other language versions coming soon.
Source – International Cotton Association