Indian Long Grain Sarbati Rice Sortexed (PUNJAB ORIGIN) of current year with following standards:
Purity: 92% traditional variety
Average length: Above 6.85 mm 
Length to breadth ratio: 2.5 and above
Broken: 2.5% maximum on the basis of 2/3
Foreign Matter: 0.5% maximum
Polished: Minimum 33 KETT 
Paddy Grains: NIL
Chalky Grain: 8% maximum
Moisture: 13.0% maximum
Colour: No added colouring matter

Packaging : Sarbati Rice should be in 35 kg new jute bag, machine stitched only. The weight of bags will be deducted out of total truck load, as per terms decided by the Exchange. The cost of bags, as determined by the Exchange will be payable seperately by the buyer to the seller.

   Delivery and Settlement Procedure of  Sarbati Rice

The Seller will issue tender notice along with evidence of delivery to the Exchange in a specified format. Members shall not square off his outstanding position to the extent of tendered quantity.

Delivery Period Margin is exempted if Goods tendered on designated tender days of the contract month along with all the documentary evidence.

Along with tender notice. Good delivery Order will be submitted in specified format-giving details of Members/Registered Non-Members who shall perform delivery.

Each delivery order issued shall be in multiples of minimum delivery lots and shall be designated for only one delivery center and one location in such center.

It will be accompanied with Warehouse Receipt, Invoice and Good Delivery Quality Certificate valid upto one month after the expiry of the contract as per Contract Specifications from Exchange designated Certifier. Delivery order once submitted cannot be withdrawn or cancelled or changed unless so agreed by MCX in writing. Members tendering the delivery order shall clearly specify the grade and shall be in conformity with the surveyor's certificate accompanied with the delivery document and cannot be changed subsequently. 

First amongst the willing Buyers and then amongst the other Buyers. Done on 10th, 11th & 12th day of the contract month after closure of market.

Settlement Price on 10th, 11th and 12th day of contract month based on the date of allocation of delivery.

Buyers willing to take delivery will be required to give their intention on 10h day of the Contract month by 3 pm. In respect of allocation of delivery, priority will be given to those buyers who have given such intention. However, delivery can be allocated to other buyers also, who have not given their intention to take delivery and therefore, the buyers can give their intention on subsequent days also during the contract period. If the buyer fails to make payment for the delivery allocated to him, a penalty of 5% will be imposed on him, out of which 90 % will be passed on to the seller tendering delivery. Further, the Buyer will not have any option about choosing the place of delivery and will have to accept the delivery as per allocation made by the Exchange. 

All outstanding positions on the expiry of contract shall be closed out at Due Date Rate and respective Pay-in and Pay-out of Funds of such close out with penalty shall be effected on 16th day of Contract month by 01.00 P.M. All Sellers with undelivered open positions as on expiry date will be imposed 5% penalty of which 90% will be passed on ti buyer.

The members will provide appropriate tax forms wherever required as per law and as customary and neither of the parties will unreasonably refuse to do so.

All other charges, levies or APMC Cess applicable at the delivery center will be on account of sellers. Incase of Inter-State movement, Buyer has to submit requisite forms or pay CST as applicable. Post lifting delivery all charges are borne by the Buyer.

The buying member can endorse delivery order to a client or any third party with full disclosure given to MCX. Responsibility for contractual liability would be with the original assignee.

As per Exchange decision due to a force majeure or otherwise

Exchange shall take spot prices from a panel of different entities from spot market and shall compute the daily average price. Due Date Rate will be calculated by way of taking simple average of last 3 days of the spot market prices so computed.

Rules The general provisions of Business Rules & decisions taken by FMC/ Board / Executive Committee in respect of matters specified above will apply mutatis mutandis. The Exchange may further prescribe additional measures relating to delivery procedures, warehousing, Quality Certification, Margining, risk management from time to time. In case of any interpretational dispute or clarifications the decision of the Exchange shall be final and binding on the members and others.