At the recently held International Cotton Association’s (ICA) ‘Raw Cotton Contracting’ training workshop in Turkey, ninety Turkish cotton professionals attended the workshop.
“Specially developed for people working in the raw cotton industry, the training is designed to promote good trading practice and safer trading,” ICA said in a press release.
“With its practical and interactive delivery, it addresses the major topics of raw cotton contracting and the application of ICA Bylaws & Rules,” it added.
Leon Picon, cotton purchasing director at Orta Anadolu said, “There are so many crucial details in the practicality of ICA rules and bylaws, which cotton buyers and sellers should be aware of.”
“In that sense, the training session was very informative and thought provoking as cotton buyers and sellers should be kept informed about their responsibilities and rights more often.”
Industry expert Derek Tanner (DAT Arbitration & Consultancy) who facilitated the training said, “Turkey is becoming one of the major players in importing cotton, the majority of which is traded under ICA Rules.”
“ICA Bylaws & Rules are pivotal to cotton contracting, supporting good trading practices and forming the basis of a substantial majority of international cotton contracts,” he added.
“We were pleased to receive such a nice welcome and hospitality and based on the comments we received we know that the delegates found the workshop rewarding,” he observed.
As part of its ongoing training programme, the ICA will host further training courses in various global locations, including new modules that cover ‘avoiding disputes’, ‘the cotton agency’ and ‘arbitration’.
Established in 1841, the ICA is the world’s leading international cotton trade association and arbitral body and the majority of the world’s raw cotton is traded internationally under ICA Bylaws & Rules.
It has more than 580 members made up of firms and individuals, representing all sectors of the cotton industry, including the world’s major cotton companies.
The ICA vision is to ensure contract sanctity in the global trade of cotton and its mission is to protect the legitimate interests of all those involved in the cotton trade, whether buyer or seller.
