What is Carlot-Based Agriculture? A Comprehensive Legal Overview
Definition & Meaning
The term "carlot-based" refers to specific transactions in the beef industry. It describes a deal between a buyer and a seller that involves two or fewer delivery stops and includes one or more individual boxed beef items. When it pertains to cow and bull boxed beef, "carlot-based" indicates transactions involving 2,000 pounds or more of one or more items. This definition is important for understanding how beef products are marketed and sold in the agricultural sector.
Legal Use & context
"Carlot-based" transactions are primarily used in agricultural marketing and livestock reporting. This term is relevant in legal contexts involving agricultural regulations, trade agreements, and market practices. Users may encounter this term when dealing with contracts or forms related to the sale of beef products. Legal templates from US Legal Forms can assist users in navigating these transactions effectively.
Real-world examples
Here are a couple of examples of abatement:
Example 1: A restaurant orders 2,500 pounds of boxed beef from a supplier, with delivery to one location. This transaction qualifies as carlot-based.
Example 2: A grocery store purchases 1,800 pounds of boxed beef, but the order is split between two delivery stops. This does not meet the carlot-based criteria.