La. Admin. Code tit. 7 § V-1305

Current through Register Vol. 50, No. 11, November 20, 2024

Section V-1305 - Consignment of Produce and Payment Policy

A. A commission of percent of the selling price will be charged on all produce marketed through the produce assembly center. Fees will be used to defray the operating expenses of the center.

B. The percent commission will be due and payable upon receipt by the seller of the purchase price of the produce.

C. The produce assembly center manager will deduct the commission of percent from the sales revenues received from the buyer and pay over the remainder to the seller.

D. The revenues from sales of produce will be paid over to the seller by the produce assembly center manager immediately upon receipt of the sales revenues from the buyer, but no later than 30 days after delivery of the produce to the produce assembly center.

E. In any circumstances where the sales revenues are not received by the produce assembly center manager within 30 days after delivery of the produce to the center, the produce assembly center reserves the right to pay over only 75 percent of the agreed-upon selling price, subject to correction upon receipt of revenues from the sale of the produce.

F. Separate accounting records will be maintained on transactions for each seller, and any seller may examine the accounting records for his account at any time during regular business hours.

La. Admin. Code tit. 7, § V-1305

Promulgated by the Department of Agriculture, Market Commission, LR 7:406 (August 1981), repromulgated LR 8:272 (June 1982).

AUTHORITY NOTE: Promulgated in accordance with R.S. 3:406 and R.S. 3:404.