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.
Fairfax Virginia Purchase and Maintenance Agreement for Cattle — Feeder Contract is a legally binding document that outlines the terms and conditions related to the purchase and maintenance of cattle in the Fairfax, Virginia region. This contract is specifically designed for individuals or businesses engaged in the cattle feeding industry. The primary purpose of the Fairfax Virginia Purchase and Maintenance Agreement for Cattle — Feeder Contract is to formalize the agreement between the buyer and seller regarding the purchase, delivery, and maintenance of cattle. It serves as a protective measure for both parties involved, ensuring they are in agreement with the terms of the contract and minimizing potential conflicts or misunderstandings. Key features of the Fairfax Virginia Purchase and Maintenance Agreement for Cattle — Feeder Contract may include: 1. Identification: The contract should clearly identify the buyer and seller, including their legal names, addresses, and contact information. 2. Cattle Specifications: The document should outline the specific details of the cattle to be purchased, including breed, weight, age, and any other relevant specifications. 3. Purchase Price: The contract should clearly state the agreed-upon purchase price for the cattle, as well as the payment terms and due dates. 4. Delivery Terms: The document should include the agreed-upon location for cattle delivery and the timeline for delivery, including any penalties or late delivery clauses. 5. Maintenance Responsibilities: The contract should outline the responsibilities of both parties regarding the feeding, care, and maintenance of the cattle during the contracted period. This may include details on the type and quantity of feed, medical care, and any required vaccinations. 6. Insurance and Liability: The contract should address matters related to insurance coverage, liabilities, and potential risks associated with the cattle during the contract period. 7. Termination Clause: The contract should include provisions for contract termination, including any applicable notice periods or conditions that may lead to the early termination of the agreement. It's worth noting that while the Fairfax Virginia Purchase and Maintenance Agreement for Cattle — Feeder Contract is a general term, there may be different variations or specific versions of this agreement available depending on the specific needs and requirements of the parties involved. These variations may cater to different cattle breeds, contract durations, or specific industry practices. Keywords: Fairfax Virginia, Purchase and Maintenance Agreement, Cattle, Feeder Contract, purchase, delivery, maintenance, cattle specifications, purchase price, payment terms, delivery terms, maintenance responsibilities, insurance, liability, termination clause.Fairfax Virginia Purchase and Maintenance Agreement for Cattle — Feeder Contract is a legally binding document that outlines the terms and conditions related to the purchase and maintenance of cattle in the Fairfax, Virginia region. This contract is specifically designed for individuals or businesses engaged in the cattle feeding industry. The primary purpose of the Fairfax Virginia Purchase and Maintenance Agreement for Cattle — Feeder Contract is to formalize the agreement between the buyer and seller regarding the purchase, delivery, and maintenance of cattle. It serves as a protective measure for both parties involved, ensuring they are in agreement with the terms of the contract and minimizing potential conflicts or misunderstandings. Key features of the Fairfax Virginia Purchase and Maintenance Agreement for Cattle — Feeder Contract may include: 1. Identification: The contract should clearly identify the buyer and seller, including their legal names, addresses, and contact information. 2. Cattle Specifications: The document should outline the specific details of the cattle to be purchased, including breed, weight, age, and any other relevant specifications. 3. Purchase Price: The contract should clearly state the agreed-upon purchase price for the cattle, as well as the payment terms and due dates. 4. Delivery Terms: The document should include the agreed-upon location for cattle delivery and the timeline for delivery, including any penalties or late delivery clauses. 5. Maintenance Responsibilities: The contract should outline the responsibilities of both parties regarding the feeding, care, and maintenance of the cattle during the contracted period. This may include details on the type and quantity of feed, medical care, and any required vaccinations. 6. Insurance and Liability: The contract should address matters related to insurance coverage, liabilities, and potential risks associated with the cattle during the contract period. 7. Termination Clause: The contract should include provisions for contract termination, including any applicable notice periods or conditions that may lead to the early termination of the agreement. It's worth noting that while the Fairfax Virginia Purchase and Maintenance Agreement for Cattle — Feeder Contract is a general term, there may be different variations or specific versions of this agreement available depending on the specific needs and requirements of the parties involved. These variations may cater to different cattle breeds, contract durations, or specific industry practices. Keywords: Fairfax Virginia, Purchase and Maintenance Agreement, Cattle, Feeder Contract, purchase, delivery, maintenance, cattle specifications, purchase price, payment terms, delivery terms, maintenance responsibilities, insurance, liability, termination clause.
