Launch of GPC Pulses Contract #1 at Vancouver Convention, July 2017
At our up-coming Convention in Vancouver July 10th-13th, GPC will be launching GPC PULSES CONTRACT #1, a new contract for the international trading of pulses, modelled on the widely used Gafta Contract No. 88, with adjustments reflecting the customs and practices of the international pulse trade.
Every delegate attending the Convention will receive a hard copy in their delegate welcome bag. All GPC members will be able to freely access e-copies on our website www.globalpulses.org with effect from July 13th, to coincide with the Convention launch.
There will be a plenary session to explain the new contract at 15.40 – 17.00 on Tuesday July 11th, with presentation made by Co-Chairs of GPC Contracts Committee, GPC President Huseyin Arslan and Andrew Jacobs.
Our colleagues from Gafta will join our Expert Panel for Question & Answer session, where delegates can raise questions and obtain clarifications.
A key advantage to adopting GPC Contract #1 is the introduction of powers invested in our GPC Executive to discipline Defaulters of Awards of Arbitration, a power that has not existed until now. In future, parties who conclude contracts using GPC Pulses Contract #1 but who default on an Award of Arbitration can, at the discretion of GPC Executive, be suspended or rejected from GPC membership, precluded from attending GPC Conventions & events, with GPC membership being actively informed of such disciplinary measures taken.
GPC’s By-Laws and Code of Ethics are being up-dated to reflect the Disciplinary powers invested in the GPC Executive
We look forward to this important milestone in the development of GPC as we will soon be able to trade pulses on our own contract reflecting the customs and practices of our trade.
Join us in Vancouver and be amongst the first to adopt this new contract.
Any information provided by an external source does not necessarily reflect the official position of the Global Pulse Confederation and should be verified independently.