Notice to the Trade

NAEGA 2 FOB Contract and Addendum No. 1 Revisions Effective April 15, 2024 

Following a two-year review of the North American Export Grain Association (NAEGA) Contract No. 2 Free On Board (FOB) Export Contract (“NAEGA 2”) and Addendum No. 1, NAEGA today announces that it will publish and support updated and revised versions of each with an effective of April 15, 2024. 

These revised contract documents will supersede the NAEGA 2 and Addendum No. 1 dated March 30, 2018. They will be available in both standard and fillable formats. 

NAEGA has also updated its Terms of Use, which will also be effective April 15, 2024. 

The NAEGA Committee on Contracts undertook a clause-by-clause review of both the NAEGA 2 and Addendum No. 1 for three primary reasons: to promote clarity and understanding; ensure alignment with commercial practices; and anticipate transitions in electronic communications and digital solutions. 

The April 15, 2024, NAEGA 2 FOB Contract includes revisions to improve clarity and enhance transparency. It most notably includes a comprehensive revision of Clause 20. 

The trade is advised that the following Clauses to the NAEGA 2 are updated and revised: 

- Clause 13 

- Clause 15 

- Clause 16 

- Clause 19 

- Clause 20 

- Clause 21 

- Clause 23 

- Clause 30 

- Clause 4 

- Clause 7 

- Clause 8 

- Clause 9 

- Clause 10 

- Clause 11 

- Clause 12 

The April 15, 2024, Addendum No. 1 likewise includes revisions to improve understanding, enhance transparency, as well as bring clarity to laytime calculations in Clause 4. 

The trade is advised that the following Clauses to Addendum No.1 are updated and revised: 

- Clause 2 

- Clause 4 

- Clause 7 

- Clause 10 

The full text of the revision will be made public by NAEGA on April 15, 2024. Please contact us at info@naega.org with questions.