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  • 3.3.8-COTTON MARKETING-FAILURE TO COMPLY WITH AN AWARD

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  • Failure to comply with an award

    Chapter 3 - Cotton marketing - Arbitration 

     
     
    If an award is not honoured a party can provide written notice to the ICA directors, who may then circulate such advice to ICA members, registered firms, member associations of the Committee for International Co-operation between Cotton Associations (CICCA), or any other organization or person. The defaulting company will also be listed on the ICA website.

    Such information will be circulated on the ICA List of Unfulfilled Awards at the request and responsibility of the reporting party, who indemnifies ICA and its directors for the accuracy of the information and for all liabilities, damages or costs caused by any inaccuracy in the information supplied. Over the years, this circulation has acted as a tool to promote good trading practices in the raw cotton trade.

    It is the responsibility of the reporting party to immediately notify ICA if the award is settled, to enable the listed party to be removed from the List of Unfulfilled Awards.