A new edition of the ICA Bylaws & Rules came into force on 1 March 2016 and applies to all contracts made on or after this date. The English language version is now available as a FREE download from the ICA website, with other language versions coming soon.
A number of changes have been introduced since the last edition, particularly within the arbitration section. The changes are indicated by a vertical line on the right-hand side of the document.
The ICA Bylaws & Rules were originally created in 1863 to regulate the sale and purchase of raw cotton. They can be applied to contracts covering the purchaseand sale of cotton between any two companies anywhere in the world. They are continuouslyupdated in line with current industry practice and are published in a varietyof languages.
Today, it is estimated that the majority of the world’s cotton is still traded under ICA Bylaws & Rules and, whilst they have changed with time, their aim remains the same – to create a safe trading environment and protect the legitimate interests of all those who trade cotton, whether buyer or seller.