Quota Certificate Transfers
Quota rights obtained in the open-tender auction operated by Colombia Rice Export Quota, Inc. are freely transferable. COL-RICE will post announcements submitted by quota holders who wish to offer their quota rights for transfer, as well as notices of transfers which have already been agreed to. Provisions of transfer of quota rights are subject to agreement between the quota holder and the party that wishes to acquire quota rights. COL-RICE serves no role in negotiation between a quota holder and a party that wishes to acquire quota rights from the quota holder, and assumes no liability for any dispute arising between quota holders and the parties to whom they have assigned quota rights. Any quota holder that agrees to transfer its rights to another party must notify the COL-RICE administrator in writing within 24 hours of agreeing to transfer its rights so that COL-RICE may post a notice of transfer on its website. The notice must remain available for three days.