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ICA prepares new edition of rules

A new edition of the ICA Bylaws & Rules has gone live. The ICA Bylaws & Rules were originally created in 1863 to regulate the sale and purchase of raw cotton. They can be applied to contracts covering the purchase and sale of cotton between any two companies anywhere in the world. They are continuously updated in line with current industry practice and are published in a variety of languages.

Today, it is estimated that the majority of the world’s cotton is still traded under ICA Bylaws & Rules and, whilst they have changed with time, their aim remains the same – to create a safe trading environment and protect the legitimate interests of all those who trade cotton, whether buyer or seller.

The platform provides a wide range of mediation and training support for trade associations and individual mills to ensure safe trading under ICA bylaws. Apart from that ICA has education programs on quality, risk management and so on. The aim is to educate the parties and bring added value to the industry.

During fluctuation of cotton price the ICA plays a vital role in ensuring that both the buyers and sellers of cotton are protected and respect contract sanctity.

 

 
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