Cotton Enterprises Can Choose Cotton In A Variety Of Ways.

In order to ensure the smooth implementation of the cotton target price reform pilot project in Xinjiang and implement the requirements put forward by the relevant state departments, "the national cotton trading market should adapt to the needs of developing modern cotton logistics, strengthen the link between its own construction and the cotton inspection database and establish a unified open, efficient and efficient cotton market trading platform", the national cotton trading market (hereinafter referred to as the "trading market") issued a notice on organizing the launching of the new cotton trade in 2014 in October 17th.

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New cotton sales and procurement needs of Xinjiang cotton company. The new cotton trading organization will use online auction, negotiation and other ways for enterprises to choose voluntarily.

The notice issued by the national cotton trading market on the auction sale shows that the auction sale means that the seller will store the data in Xinjiang cotton specialized supervision warehouse (designated delivery (supervision) warehouse, the same below) to sell the basic data such as the quality and weight of Xinjiang cotton (fine staple cotton). The price will be quoted through the pre-sale of the trading market, and the price will be increased by the eligible buyer. According to the principle of "price first, time first", the paction will be done at the highest purchase price, and the two sides will conclude the purchase and sale contract through the trading market and make physical delivery.

The time for a sale is 3 to 00 p.m. on the legal day of each country, which starts at 3: 00 in the afternoon, 3 minutes to 30, 1 minutes countdown, 4 to 00, countdown to 30 seconds, 4: 4 begins countdown of seconds, until the closed market.

Specific listing time will be announced separately.

The bid price is determined by the seller's dealer and is issued through the trading market auction system. The buyer dealer raises the price independently on the basis of the bid price, and the price increase is 10 times per time.

Take part in this

The buyers and sellers of cotton auction shall be traders in the trading market.

If the enterprise has not yet become a trading market dealer, please consult the regional trading market office (contact details in China Cotton Information Network) for the entry procedures.

Seller's dealers do not have to pay a performance bond.

In order to ensure performance, the buyer dealer will deposit a margin of not less than 100 thousand yuan in the trading market before the paction takes place, so as to ensure the paction.

In a competitive paction, the trading market withdraws the performance bond from the dealer's margin in accordance with the standard of 1000 yuan / ton.

The buyer's dealer will not suspend the paction until the margin is insufficient.

The market is published daily through the China Cotton Information Network "2014 commodity cotton auction sale" column, timely listing the data and results of the paction, and provides real-time trading quotes.

The announcement of consultative pactions released by the market shows that the new market cotton negotiation paction has been launched since October 20, 2014.

The new Xinjiang cotton consultation paction refers to the paction paction between the buyer and the seller through the paction market after the negotiation of the price of Xinjiang cotton (including fine staple cotton and long staple cotton), including the paction price, the turnover volume, the pick-up warehouse, the pportation cost, the settlement and the quality weight dispute handling method, which is stored in the specialized warehouse of the cotton warehouse or pferred to the mainland trading market.

In consultative pactions, the trading market is only responsible for the alteration of the right of goods and the procedures for issuing the warehouses.

After consultation between the buyer and the seller on the purchase price of Xinjiang cotton in 2014, the seller will complete the change of the right of goods in 2 working days after the seller receives the application form for the alteration of the commodity cotton right in batches, and the paction market receives the seller's "application form for the alteration of the right of commodity cotton". If the buyer needs to go through the procedures for discharging the relevant batch of cotton, please submit the "outgoing application" to the trading market, and the paction market receives the buyer's "warehouse receipt application" within 2 working days (including) to the buyer.

The buyer takes delivery of the goods to the designated warehouse on the basis of the "delivery order" and the identity of the agent.

With the agreement of the two parties, the application form for the alteration of the seller's right of goods and the buyer's outgoing application can also be submitted at the same time.

The buyer, in accordance with the "delivery order form", will go to the warehouse in time to complete the relevant batch of cotton depot.

When the buyer goes through the warehouse, the warehouse must be handled strictly in accordance with the detailed rules for the implementation of the cotton specialized supervision warehouse in Xinjiang (Trial Implementation) or the regulations on the management of designated delivery (supervision) warehouses in the national cotton trading market.

Worth

That is, before December 31, 2014, the trading market waived the fees for consultative pactions and provided free services for the buyers and sellers, such as the alteration of the right of goods and the processing of the warehousing procedures.

It has been included in the standard regulation and implementation of Xinjiang cotton in the Treasury public inspection, such as the designated delivery (supervision) warehouse to the mainland trading market, and the participation in bidding or negotiation pactions.