The NGFA s Trade Rules Committee formulates and recommends rule changes to the membership. Rules are proposed that reflect trade practice and facilitate trade between NGFA members specifically, as well as between all firms in the grain, feed and processing industry generally. The Trade Rules Committee consists of four su bcommittees Grain Trade Rules, Feed Trade Rules, Barge Trade Rules and Barge Freight Trading Rules with a general chairman and four subcommittee chairmen. The subcommittees annually, or more frequently if needed, review the rules to ensure they reflect current trade practices. P ur suant to the NGFA Bylaws, NGFA members receive 30 days notice of proposed changes to the Trade Rules.
Approval is by a two-thirds majority vote of the membership at the annual business meeting.
Amendments to the Trade Rules become effective 30 days after the date of adoption. The NGFA Bylaws also provide that changes to the Trade Rules may be approved by the Board of Directors, subject to affirmation by the membership at its next annual meeting. Formally established in 1901, the NGFA's Arbitration System has operated in some form since the formation of the Association on November 9, 1896. It is believed to be North America's oldest industry-based arbitration system. The Arbitration System provides a fair, cost-effective and timely way to resolve disputes involving grain, feed, barge and barge freight transactions.