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Local Market

Objective

The Local market is opened to trade by local currency in various beans & pulses, wheat, maize, oil crops, kitchen crops and other food stuff arrived from various regions of Myanmar.

Opening Day and Time

Local market is opened at 10:00hr to 14:00 hour on Monday to Saturday apart from gazetted holiday.

Eligiable Person

The membeer of Yangon Region Chamber of Commerce and Industry (Commodities Exchange Centre) can be trade in this market , not be member, but be guest, foreigners and personal from foreign companies.

Procedure and Rules

Among the members, trading can be done according to be following Rules and regulation.

1. Trading means that buying and selling various beans & pulses, wheat, maize, oil crops, kitchen crops and other food stuff.
2. Trading must be done in commodities exchange centre’s area.
3. After the buyer acept the seller’s sample(quality) of commodity and buyer and seller are agree with the price, the present of buyer and seller, the commodity exchange centre’s prescribed form must be filled quality, specification, price, quantity and date that buy and sell, and must be signed by seller & buyer and the prescribed form must be stricked on the pack of sample.
4. Thereafter, buyer and seller must prepare and sign on the commodity exchange centre’s prescribed sale/purchasing contract and the contract, as well as DO (delivery Order), must be registered at commodity exchange centre office within 24 hours.
5. Do not issue DO (delivery Order) if the commodity is not inhand. DO (delivery Order) can not be handover, The
6. Although the price araise after the agreement, seller must deliver the goods to buyer accordance with the agreement on pice, quality, specification and quantity.
7. Although the price araise after the agreement, seller must not deliver goods has lower quality than the sample’s quality.
8. Buyer must accept goods with the price and quantity wrode down on the pack of sample with the agreement between seller and buyer.
9. Although the price is lower than the agreed price, if seller delivers goods same as sample pack, buyer must not deny to accept goods by the reason of the difference.
10.

Trade must not be done without payment.

a. Without advence payment or pledge, buying and selling must not be done.
b. Forsale/forsell must not longer than one month and advence payment of 15 percent of or pledge that valued 25 percent of total trade value must be paid.
c. amount of Total trade value of forsale of amember must be fixed by the executive commeettee.
d. Forsale must be responsible.