General Contract Policies

  • Delivered grain will be applied to the oldest contracts first, unless prior arrangements are made.
  • Please arrange contract splits/split payments at the time of contract writing, not at the time of settlement.
  • Contracts will be paid when the contract is filled, not on a per load basis.
  • Contracted bushels need to be delivered within the date range specified in the contract, unless other arrangements are made. Bushels not delivered by the contract date may be subject to a fee equivalent to any losses incurred on that contract by Harrold Terminal, LLC. This is subject to market conditions.
  • Harrold Terminal, LLC reserves the right not to buy cash grain outside of regular trading hours in certain market conditions.

Signed/Unsigned Contract Policies

  • Harrold Terminal, LLC will not write checks on delivered grain if that entity/person has any unsigned contracts older than 15 days with Harrold Terminal, LLC.
  • New contracts will also not be made if that entity/person has any unsigned contracts older than 15 days.

Contract Over-run/Un-contracted Grain

  • Grain is priced automatically unless other pricing arrangements are made with Randy or Kevin. This policy is subject to change during harvest.
  • Grain that is delivered, but not contracted, will be priced automatically.
  • Unpriced grain delivered after normal trading hours may be subject to the markets next opening.
  • Grain placed in a DP program can only be priced on the current day's cash price. Forward contracts cannot be made for bushels already delivered.

 

Basis Contract Policies

  • Futures must be set on basis contracts by the 15th of the month prior to the contract futures month.
  • Harrold Terminal, LLC reserves the right to not allow futures pricing on basis contracts outside of normal trading hours.
  • Basis contracts can only be rolled once based on current market conditions and prior approval.

HTA (Fututres Only) contract Policies

  • HTA fees will be assessed at the time of grain settlement.
  • Basis must be priced before delivery of the grain.
  • HTA Contracts may only be rolled once.
  • HTA contracts cannot be rolled to a new crop year.

 

 

--SUBJECT TO CHANGE AT ANY TIME--

 

As of 7/11/11