Idaho Administrative Code
Title IDAPA 02 - Agriculture, Department of
Rule 02.02.12 - BONDED WAREHOUSE RULES
Section 02.02.12.010 - DEFINITIONS

01. Cash Sale. Payment to the producer by the warehouse or dealer contemporaneously with the transfer of commodity to the warehouse or dealer.

02. Commodity Indemnity Fund (CIF). Commodity Indemnity Fund is a trust fund.

03. Credit-Sale Contract. An agreement in writing containing the provisions of Section 69-249, Idaho Code, and where the producer transfers a specific quantity of commodity to a warehouse or dealer with a price or payment to the producer by the warehouse or dealer to be made at a later date or on the occurrence of a specific event expressed in the agreement.

04. Dealer. Is limited to dealers licensed by the state of Idaho.

05. Deposit for Service. Deposit of a commodity by a person for cleaning, processing, reconditioning or the rendering of other similar services by a warehouse, but does not include either a cash sale, credit-sale, or open storage.

06. NPE. (No price established contract) A contract containing no readily calculable sale value of the commodity for the producer.

07. Open Storage. The deposit of commodity by the producer for a period of time with the subsequent disposition of the same commodity or a fungible commodity as agreed to by the parties.

08. Warehouse. Is limited to warehouses licensed by the state of Idaho.