Idaho Administrative Code
Title IDAPA 02 - Agriculture, Department of
Rule 02.02.12 - BONDED WAREHOUSE RULES
Section 02.02.12.010 - DEFINITIONS
Current through August 31, 2023
The definitions set forth in Section 69-202, Idaho Code, and the following apply: (3-15-22)
01. Cash Sale. Payment to the producer by the warehouse or dealer contemporaneously with the transfer of commodity to the warehouse or dealer. (3-15-22)
02. Commodity Indemnity Fund (CIF). Commodity Indemnity Fund is a trust fund. (3-15-22)
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. (3-15-22)
04. Dealer. Is limited to dealers licensed by the state of Idaho. (3-15-22)
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. (3-15-22)
06. NPE. (No price established contract) A contract containing no readily calculable sale value of the commodity for the producer. (3-15-22)
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. (3-15-22)
08. Warehouse. Is limited to warehouses licensed by the state of Idaho. (3-15-22)
