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- It provides a
suitable and common place of business.
- It provides suitable
contract forms for business, e.g. Ready, Specific delivery, Factory
Selection, Hedge Contact, Foreign Contacts etc.
- It regulates
admission and timing of business hours.
- It regulates making,
carrying out, enforcement of settlement of cotton contracts.
- It adjusts
differences by arbitration or otherwise between contracting parties in
the cotton trade.
- It establishes just
and equitable principles in the cotton trade and maintains uniformity in
control of cotton trade.
- It makes and adopts
standards of classification of cotton of each variety for adjustments of
cotton prices for differences in class and staple.
- It helps to acquire,
preserve and disseminate useful information relating to cotton trade.
- It attempts to find
out ways to reduce the risk involved in cotton trading.
- It has provisions to
establish and maintain a Clearing House to facilitate cotton
transactions.
- It fixes and
publicises cotton spot rates and settles deals and rates of contracts
and arranges settlement through the Clearing House of the Cotton
Exchange.
- It maintains liaison
with Government for protection of the trade interests and works to
improve understanding between trade and authorities.
- It prescribes guide
lines for framing of contracts with a view to eliminate temptation and
possibility of speculative manipulations.
- It endeavors to
introduce the cotton trade and projects the image of Pakistan cottons in
world market.
- It compares
standards of Pakistan cotton with standards of other countries.
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