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.
Nassau, New York is a town located in Rensselaer County, upstate New York. The Nassau New York Purchase and Maintenance Agreement for Cattle — Feeder Contract is a legal document outlining the terms and conditions between a buyer and seller in the cattle industry. This detailed agreement serves as a guideline for purchasing and maintaining cattle for the purpose of feeding or raising. The main elements covered in the Nassau New York Purchase and Maintenance Agreement for Cattle — Feeder Contract include: 1. Parties Involved: The agreement clearly states the names and addresses of the buyer and seller, ensuring legal documentation of both parties. 2. Purchase Terms: The agreement specifies the number of cattle being purchased, their breed, age, sex, weight, and any other relevant characteristics. It may also outline additional requirements such as vaccination records or certifications. 3. Price and Payment: The agreed upon purchase price per head is stated, along with the payment terms and schedule. This may include down payments, installment payments, or full payment upon delivery. 4. Delivery Terms: This section describes the agreed upon date and location for delivering the cattle. It may also include provisions for transportation, insurance, and any associated costs. 5. Maintenance and Care: This part outlines the responsibilities and obligations of the buyer and seller regarding the care of the cattle. It includes details such as feeding schedules, health maintenance, veterinary care, and required record-keeping. 6. Risk of Loss: The agreement may specify the point at which the risk of loss transfers from the seller to the buyer. This can be determined by the delivery or any other agreed-upon criteria. 7. Default or Breach: In the case of default or breach of the agreement by either party, the consequences and remedies are detailed. This may include penalties, termination of the agreement, or alternative dispute resolution procedures. Different types of Nassau New York Purchase and Maintenance Agreement for Cattle — Feeder Contracts may exist based on the specific requirements or preferences of the parties involved. Some variations may include lease agreements, breed-specific contracts, or contracts with added clauses for special circumstances such as force majeure events or exclusivity agreements. Overall, the Nassau New York Purchase and Maintenance Agreement for Cattle — Feeder Contract provides a comprehensive framework for the purchase and care of cattle, ensuring clear expectations and legal protection for both the buyer and seller.Nassau, New York is a town located in Rensselaer County, upstate New York. The Nassau New York Purchase and Maintenance Agreement for Cattle — Feeder Contract is a legal document outlining the terms and conditions between a buyer and seller in the cattle industry. This detailed agreement serves as a guideline for purchasing and maintaining cattle for the purpose of feeding or raising. The main elements covered in the Nassau New York Purchase and Maintenance Agreement for Cattle — Feeder Contract include: 1. Parties Involved: The agreement clearly states the names and addresses of the buyer and seller, ensuring legal documentation of both parties. 2. Purchase Terms: The agreement specifies the number of cattle being purchased, their breed, age, sex, weight, and any other relevant characteristics. It may also outline additional requirements such as vaccination records or certifications. 3. Price and Payment: The agreed upon purchase price per head is stated, along with the payment terms and schedule. This may include down payments, installment payments, or full payment upon delivery. 4. Delivery Terms: This section describes the agreed upon date and location for delivering the cattle. It may also include provisions for transportation, insurance, and any associated costs. 5. Maintenance and Care: This part outlines the responsibilities and obligations of the buyer and seller regarding the care of the cattle. It includes details such as feeding schedules, health maintenance, veterinary care, and required record-keeping. 6. Risk of Loss: The agreement may specify the point at which the risk of loss transfers from the seller to the buyer. This can be determined by the delivery or any other agreed-upon criteria. 7. Default or Breach: In the case of default or breach of the agreement by either party, the consequences and remedies are detailed. This may include penalties, termination of the agreement, or alternative dispute resolution procedures. Different types of Nassau New York Purchase and Maintenance Agreement for Cattle — Feeder Contracts may exist based on the specific requirements or preferences of the parties involved. Some variations may include lease agreements, breed-specific contracts, or contracts with added clauses for special circumstances such as force majeure events or exclusivity agreements. Overall, the Nassau New York Purchase and Maintenance Agreement for Cattle — Feeder Contract provides a comprehensive framework for the purchase and care of cattle, ensuring clear expectations and legal protection for both the buyer and seller.
