May 4, 2007
May 4, 2007 - On May 3, the Committee on the Judiciary considered the Fair Contracts for Growers Act of 2007 bill (S. 221). This legislation, designed to provide for greater fairness in the arbitrations process relating to livestock and poultry contracts, was introduced by Sen. Chuck Grassley (Iowa) in January.
The bill to amend title 9 allows the use of arbitration to resolve a controversy as provided for under a livestock or poultry contract if, after a controversy arises, both parties consent in writing. It also directs the arbitrator to provide a written explanation of the factual and legal basis for an award to the parties of the contract
Co-sponsors to the bill include Sens. Richard Durbin (Ill.), Chuck Hagel (Neb.), Tim Johnson (S.D.), Patrick Leahy (Vt.), Russell Feingold (Wisc.), Tom Harkin (Iowa) and Herb Kohl (Wisc.).
Contracts entered into, amended, altered, modified, renewed or extended after the date of enactment of this Act would be impacted by this legislation.