negotiated sale
Defined in 1 place of the United States Code.
The term “negotiated sale” means a cash or spot market sale by a producer of livestock to a packer under which—
(A) the base price for the livestock is determined by seller-buyer interaction and agreement on a day; and
(B) the livestock are scheduled for delivery to the packer not later than 14 days after the date on which the livestock are committed to the packer.
Source
- 1999–present7 U.S.C. § 1635AAgriculture · Definitions · in this subchapter