Contract between Members of the New York
Coffee and Sugar Exchange, Inc.
The Standard Fine Granulated Sugar contract is as follows:
Sold for ..... to ..... 800 bags (of 100 lbs. net each) of Standard Fine Granulated Sugar at ..... cents per pound, manufactured in the United States or insular possessions, packed in cotton-lined burlap bags, deliverable from licensed warehouse in Chicago between the first and last days of ..... inclusive. Delivery within such time to be at Seller's option, upon seven, eight or nine days' notice to the buyer. If Domestic Beet Standard Fine Granulated Sugar be delivered in fulfillment of this contract, Seller to make an allowance of 20¢ per 100 lbs.
The Seller shall have the right to deliver Foreign Cane Standard Fine Granulated Sugar in fulfillment of this contract by making an allowance to the Buyer of 25¢ per 100 lbs., and foreign beet standard fine granulated sugar by making an allowance of 45¢ per 100 lbs., provided such sugars comply with the Types adopted as Standard by the New York Coffee and Sugar Exchange, Inc., and all duties have been paid thereon.
This contract is subject to an adjustment for duty, as provided in the Sugar Trade Rules.
Either party to have the right to call for margins as the variations of the market for like deliveries may warrant, which margins shall be kept good. This contract is made in view of and in full accordance with the By-Laws, Rules and Conditions established by the New York Coffee and Sugar Exchange, Inc.
(Written across the face is the following)
For and in consideration of one dollar to ..... in hand paid, receipt whereof is hereby acknowledged ..... accept this contract with all its stipulations and conditions.
Brokers' Commissions
The broker's commission for either buying or selling each contract of 800 bags of sugar depends upon the price at which the transaction is executed. The following table gives a range of prices and the corresponding commissions: