Russia leads the rules of the grain trade in accordance with rules of GAFTA

this year in Russia will start to operate new rules of the grain trade, the same rules of GAFTA (the World organization of the grain trade and feed).

the Agreement was reached at a meeting established by the Association of bona fide members of the agricultural Council for standardization and self-regulation in the agricultural market, which was attended by representatives of the Ministry of agriculture, Federal customs service, Rosselkhoznadzor, the arbitration center and top managers of major Russian grain companies.

the Council should create rules and standards for trade on the domestic grain market to increase its transparency and to harmonize with international standards. Participation can take any players in the agricultural sector, their associations and unions and other organizations having direct or indirect relation to market performance.

the Council provided the draft "Standard rules on the grain trade", standard form contracts of trade, transport and TEP, which once finalized will be submitted for examination to the Ministry of agriculture, FCS and FAS.

the Use of the developed standards will not be mandatory for market participants, however, the members of the Association will begin to apply them in 2019, in particular, the terms of compensation of losses a consequence of the rejection of the Treaty, arbitration and tax implications, standard contracts of road haulage, the lists of documents for selection of contractors.

in addition, the Russian arbitration centre, introduced the panel of arbitrators to resolve disputes of grain and reported that the dispute resolution rules already are deposited. in the Ministry of justice. To resolve disputes market participants may apply to the special arbitration even before final approval of rules and standard contracts.