THE CASH MARKETPLACE FOR PADDY RICE

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Seller's Rules

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All rice offered for sale on the CRE trading floors has to grade a U.S. #1 and has to be grown and harvested in California- No exceptions.
Registration, and issuance of a user ID (email address) and password are required prior to gaining access to the active trading floor, and submitting an offer to sell your rice.  
After you have received your ID (email address) and password, you will be granted access to the active trading floor and may then offer (sell) rice online, utilizing the Offer Form at the upper locator button (Sell Rice).  Each individual lot of rice to be offered requires the completion of a separate Offer Form.
All offers are valid only after written confirmation from CRE, via fax or e-mail.
All offers submitted online are firm and exclusive to CRE for the length of offer, as shown on the Offer Form. This means that rice identified on the Offer Form cannot be offered or sold to another party during the time period specified at “Length of Offer.”  Offers can have a minimum length of three (3), and a maximum of ninety (90) trading days.
All offers are valid from date of posting by CRE, through noon of the expiration date.
All new offers and minimum offer price changes will be posted to CRE during closed trading hours of 12noon to 4pm.
All offers are sold when the bid price meets or exceeds minimum offering price, at the close of trading.
Price to the seller/grower is net of all deductions (Commission, RRB, CRC).
Violations will be examined by the audit committee of CRE and may result in penalties or denial of trading floor access.

Cash Forward Contracting

Contracts for the purchase of rice at a later date, within the same crop year, will be encouraged.

Payment Terms – Buyers will be invoiced for the total purchase price of the rice, upon presentation of all necessary warehouse documents by seller payable to seller within (10) business days of invoice.

Arbitration

Any controversy or claim, arising out of or relating to, any transaction conducted on the California Rice Exchange trading floor, and/or its options contracts or relating to this Seller’s Guidelines, or the breach thereof shall be settled by arbitration administered by the American Arbitration Association in accordance with its Commercial Arbitration Rules, and judgment on the award rendered by the arbitrator may be entered in any court having jurisdiction thereof.

Confidential Information

All information submitted to CRE shall be maintained as confidential. CRE shall not disclose such confidential information to any other person, except to another neutral third party as necessary for audit or arbitration purposes. The only time at which the seller/grower is identified, is at the time warehouse receipts or similar documents, (representing ownership interest) are presented to the buyer, at the close of the transaction.

  
    
 
California Rice Exchange

9287 Midway Suite 2B

Durham, CA 95938

Telephone:  530-345-4140

Fax:  530-345-4747

General: info@calricex.com