The China Cotton Association sent a letter on July 26 to openly solicit opinions from all parties concerned on the domestic cotton trade rules.
The newly revised national standard GB1103 "Cotton Cotton" will be released on September 1 this year and formally implemented on September 1, 2013. China's 40-year cotton grade inspection method will be replaced by color-level physical standards. According to the requirements of the National Development and Reform Commission on the "Cotton Association to work together with relevant parties to formulate large bale-type cotton into specialized warehousing methods and establish a domestic cotton trade regulation that is compatible with the quality inspection system reform," the China Cotton Association took the lead in setting up the relevant government departments. Experts formed by industry organizations, textile circulation enterprises, **markets, trading markets, and legal advisors have formulated domestic cotton trade rules that are compatible with the new cotton standards (the core is the cotton pricing settlement method under the new standard) with the aim of protecting Legitimate rights and interests of the cotton trade parties, maintaining a fair and just cotton trade order, regulating the behavior of domestic cotton trade, and promoting the healthy development of cotton trade.
The name of the domestic cotton trade rules is "Cotton Sale and Purchase Contracts and General Terms" (applicable to domestic cotton trade), referred to as "China Cotton Association - Domestic Cotton Clause". The cotton-related units concerned may feedback the revised comments or suggestions to the Secretariat of the China Cotton Association before August 10th, 2012.
The newly revised national standard GB1103 "Cotton Cotton" will be released on September 1 this year and formally implemented on September 1, 2013. China's 40-year cotton grade inspection method will be replaced by color-level physical standards. According to the requirements of the National Development and Reform Commission on the "Cotton Association to work together with relevant parties to formulate large bale-type cotton into specialized warehousing methods and establish a domestic cotton trade regulation that is compatible with the quality inspection system reform," the China Cotton Association took the lead in setting up the relevant government departments. Experts formed by industry organizations, textile circulation enterprises, **markets, trading markets, and legal advisors have formulated domestic cotton trade rules that are compatible with the new cotton standards (the core is the cotton pricing settlement method under the new standard) with the aim of protecting Legitimate rights and interests of the cotton trade parties, maintaining a fair and just cotton trade order, regulating the behavior of domestic cotton trade, and promoting the healthy development of cotton trade.
The name of the domestic cotton trade rules is "Cotton Sale and Purchase Contracts and General Terms" (applicable to domestic cotton trade), referred to as "China Cotton Association - Domestic Cotton Clause". The cotton-related units concerned may feedback the revised comments or suggestions to the Secretariat of the China Cotton Association before August 10th, 2012.
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