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ACSA annual convention reports

07
Jun '07
The 83rd Annual Convention of the American Cotton Shippers' Association (ACSA) took place on May 24 – 26, 2007 in Dallas, Texas. The Bremen Cotton Exchange was represented by President Lüder Vollers, and the Executive Director Jan B. Wellmann. The annual report of the retiring President Manfred Schiefer was assimilated enthusiastically by the audience.

In his speech, Schiefer compared the deletion of the Step-2-payments mid last year with the iceberg in which the Titanic had run into during its fall. ACSA members are now awaiting with suspense the new US-farm law which shall substitute the rules expiring on September 30.

As guest speaker of the Foreign Affairs Committee, Mr. Wallace Darneille, President of the International Cotton Association, reported on the new fee-regulation of his organization.

As second guest speaker, Mr. Jan B. Wellmann informed the audience on the unification of the trading rules of Bremen and Liverpool and the intended alteration of the rules of arbitration; mainly the introduction and amendment of an arbitration accommodation for instrument testing of cotton.

The Foreign Affairs Committee had re-emphasized in its regulations the principle of abiding by a contract and supported imposing a sanction on members trading consciously with companies from the CICCA default list.

Guest speakers of this year's annual convention were Mr. Jim Angle, White House Correspondent, Fox News, and Dr. Marc Keenum, undersecretary of the US Department of Agriculture (USDA), who explained the basics of the new farm law.

Finally, members elected the cotton trader Adolph Weil, III, from Montgomery, Alabama, as their new President succeeding Manfred Schiefer. Parallel to this event, the task force of CICCA met being led by Hilton Lobb, Australia.

The task force developed among other things a proposal for an alteration of the CICCA-bylaws to be able to take increased disciplinary action against defaulters.

International Cotton Advisory Committee


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