Section 37 in The M.P. Krishi Upaj Mandi Adhiniyam, 1972
37. Conditions of buying and selling.
(1)Any person who buys notified agricultural produce in the market area shall execute an agreement in triplicate in such form as may be prescribed, in favour of the seller. One copy of the agreement shall be kept by the buyer, one copy shall be supplied to the seller and the remaining copy shall be kept in the record of the Market Committee.(2)[ (a) The price of the agricultural produce bought in the market yard shall be paid on the same day to the seller at the market yard;(b)In the case purchaser does not make payment under clause (a), he shall be liable to make additional payment at the rate of one percent per day of the total price of the agricultural produce payable to the seller within five days;(c)In case the purchaser does not make payment with additional payment to the seller under clauses (a) and (b) above within five days from the day of such purchase, his licence shall be deemed to have been cancelled on the sixth day and he or his relative shall not be granted any licence under this Act tor a period of one year from the date of such cancellation.Explanation. - For the purpose of this clause "relative" means the relative as specified in the explanation in clause (a) of sub-section (1) of Section 11.] [Substituted by M.P. Act No. 24 of 1986 (w.e.f. 21-7-1986).](3)No wholesale transaction of notified agricultural produce shall be entered into directly by licensed traders with producers of such produce [except in the market yards or such other place as provided in the bye-laws.] [Substituted by M.P. Act No. 9 of 2002, for the words 'except in the market yards (w.e.t. 20-6-2002).](4)The Commission Agent shall recover his commission only from his principal [trader] [Inserted by M.P. Act No. 24 of 1986 (w.e.f. 21-7-1986).] at such rates as may be specified in the bye-laws including all such expenses as may be incurred by him in storage of the produce and other services rendered by him.(5)Every Commission Agent shall be liable,-(a)to keep the goods of his principal in safe custody without any charge other than the commission payable to him; and(b)to pay the principal, as soon as the goods are sold, the price thereof, irrespective of whether he has or has not received the price from the buyer of such goods.
