Beef is raised in three phases before it is processed: calves are raised on pasture and range land, as feeder cattle they feed on pasture, crop residue, and range land, and finally they go to feedlots, where they are fattened for slaughter. Feeder contracts are a type of futures contract based on young cattle that are sent to feedlots in preparation for slaughter. The Chicago Mercantile Exchange first introduced a feeder cattle contract in 1971.
It is important make sure the agreement is clear as to whether a bailment or an actual sale of the animals is intended. In order to constitute a bailment and not a sale, a fattening or raising agreement should provide that the owner agrees to provide the animals involved to the feeder with the owner retaining title to the animals, and the feeder or raiser is to feed or raise them for sale as the owner deems proper. This form is a sample of a sale rather than a bailment.
The Contra Costa California Purchase and Maintenance Agreement for Cattle — Feeder Contract is a legally binding document that outlines the terms and conditions for the purchase and upkeep of cattle for feeder purposes in Contra Costa County, California. This agreement is crucial for establishing a clear understanding between the buyer and seller, ensuring a smooth and efficient transaction for both parties. It serves as a protective measure to safeguard the interests of both the cattle rancher and the purchaser. Key elements of the Contra Costa California Purchase and Maintenance Agreement for Cattle — Feeder Contract include: 1. Parties involved: Clearly state the names and contact information of the buyer (purchaser) and the seller (cattle rancher). 2. Cattle description: Provide detailed information about the cattle, including breed, quantity, weight, and any specific characteristics or qualities. 3. Purchase terms: Specify the agreed-upon purchase price for the cattle. Include any payment terms, such as down payment, installment, or full payment upon delivery. 4. Delivery terms: Outline the details of when and where the cattle will be delivered, including the delivery date, time, and location. Specify who is responsible for transportation costs. 5. Inspection and acceptance: Establish procedures for inspecting the cattle upon delivery and the timeframe for the buyer to accept or reject the animals. 6. Maintenance responsibilities: Clearly define the responsibilities of each party regarding nutrition, care, and health maintenance of the cattle while under the buyer's possession. 7. Risk of loss: Clarify the allocation of risk in case of loss, injury, or death of the cattle during the agreement period. Determine who would bear the financial burden under such circumstances. 8. Duration of the agreement: Specify the start and end dates of the contract, including any renewal or termination clauses. 9. Arbitration and governing law: Outline the dispute resolution process, indicating whether arbitration or mediation will be used. Specify the governing law that would apply to any legal disputes. Different types of Contra Costa California Purchase and Maintenance Agreement for Cattle — Feeder Contracts may include variations to suit specific circumstances. These variations may include customized clauses related to additional services, such as veterinary care, insurance coverage, or the use of specific feed or supplements. Overall, the Contra Costa California Purchase and Maintenance Agreement for Cattle — Feeder Contract provides a comprehensive framework for the sale and maintenance of cattle, ensuring a mutually beneficial agreement for both the buyer and the cattle rancher.The Contra Costa California Purchase and Maintenance Agreement for Cattle — Feeder Contract is a legally binding document that outlines the terms and conditions for the purchase and upkeep of cattle for feeder purposes in Contra Costa County, California. This agreement is crucial for establishing a clear understanding between the buyer and seller, ensuring a smooth and efficient transaction for both parties. It serves as a protective measure to safeguard the interests of both the cattle rancher and the purchaser. Key elements of the Contra Costa California Purchase and Maintenance Agreement for Cattle — Feeder Contract include: 1. Parties involved: Clearly state the names and contact information of the buyer (purchaser) and the seller (cattle rancher). 2. Cattle description: Provide detailed information about the cattle, including breed, quantity, weight, and any specific characteristics or qualities. 3. Purchase terms: Specify the agreed-upon purchase price for the cattle. Include any payment terms, such as down payment, installment, or full payment upon delivery. 4. Delivery terms: Outline the details of when and where the cattle will be delivered, including the delivery date, time, and location. Specify who is responsible for transportation costs. 5. Inspection and acceptance: Establish procedures for inspecting the cattle upon delivery and the timeframe for the buyer to accept or reject the animals. 6. Maintenance responsibilities: Clearly define the responsibilities of each party regarding nutrition, care, and health maintenance of the cattle while under the buyer's possession. 7. Risk of loss: Clarify the allocation of risk in case of loss, injury, or death of the cattle during the agreement period. Determine who would bear the financial burden under such circumstances. 8. Duration of the agreement: Specify the start and end dates of the contract, including any renewal or termination clauses. 9. Arbitration and governing law: Outline the dispute resolution process, indicating whether arbitration or mediation will be used. Specify the governing law that would apply to any legal disputes. Different types of Contra Costa California Purchase and Maintenance Agreement for Cattle — Feeder Contracts may include variations to suit specific circumstances. These variations may include customized clauses related to additional services, such as veterinary care, insurance coverage, or the use of specific feed or supplements. Overall, the Contra Costa California Purchase and Maintenance Agreement for Cattle — Feeder Contract provides a comprehensive framework for the sale and maintenance of cattle, ensuring a mutually beneficial agreement for both the buyer and the cattle rancher.
Para su conveniencia, debajo del texto en español le brindamos la versión completa de este formulario en inglés. For your convenience, the complete English version of this form is attached below the Spanish version.
