Gann's twenty-one trading rules

The 21 Principles of Fair Trade

1. Create opportunities for economically disadvantaged producers: Fair trade seeks to create opportunities for producers and workers who have been economically disadvantaged or marginalized by the traditional trading system. This includes originating from developing countries, belonging to Indigenous populations, or lacking necessary resources or skills to succeed in the globalized marketplace.

2. Develop transparent and accountable relationships: Fair trade strives to build relationships which are based on trust, openness, and respect. All parties involved in the trading process should be held accountable for their actions and decisions.

3. Respect the rights of workers: Fair trade emphasizes the rights of workers to safe and decent working conditions. All workers should be protected from abuse in the workplace, receive fair wages, and be allowed to unionize.

4. Ensure no child labor or forced labor is used: Fair trade strictly forbids the use of child labor or forced labor. Workers should be employed willingly and without pressure.

5. Supporting capacity building and local economies: Fair trade seeks to create sustainable economic development by investing in projects that build capacity of local producers and communities. This helps ensure that producers can become self-sufficient and develop their own trading opportunities.

6. Provide fair prices and pay on time: Fair trade seeks to ensure that producers receive a fair price for their goods and services. This price should take into consideration all of the costs incurred by producers during production. Producers should also be paid in a timely manner for the goods and services that they provide.

7. Promote fair terms of trade: Fair trade seeks to promote terms of trade which are beneficial to both producers and buyers. This includes providing flexibility in ordering and payment schedules, as well as minimum order quantities.

8. Ensure ethical practices and environmental sustainability: Fair trade seeks to ensure that any goods or services being traded are produced ethically and in an environmentally sustainable manner.

9. Respect cultural identity: Fair trade strives to promote and protect cultural identity by working with Indigenous populations and giving them a voice within the trading system.

10. Promote equal opportunity and safe working conditions: Fair trade seeks to ensure that all workers have equal access to resources and opportunities. This includes providing safe working conditions and equal pay for women.

11. Promote fair and safe working conditions: Fair trade seeks to ensure that all workers are provided with a safe working environment which is free from discrimination and exploitation.

12. Respect and protect the environment: Fair trade seeks to promote and protect the environment by utilizing sustainable practices in production and processing of goods.

13. Support and strengthen local development: Fair trade seeks to promote local development by integrating local producers into the global trading system.

14. Use fair labor practices: Fair trade emphasizes fair labor practices, including ensuring safe and healthy working conditions, respecting the rights of workers, and offering fair wages.

15. Pay workers a fair price: Fair trade seeks to ensure that all workers receive a fair price for their work. This price should reflect the costs incurred by producers in producing their goods and services.

16. Promote long-term trading relationships: Fair trade seeks to establish and maintain long-term trading relationships between producers and buyers.

17. Ensure good communication: Fair trade seeks to ensure that all parties involved in the trading process communicate openly and effectively. This includes providing timely feedback on both successes and challenges.

18. Protect intellectual property rights: Fair trade seeks to protect the intellectual property rights of producers by promoting the use of ethical practices in production and trading.

19. Respect the human rights of workers: Fair trade seeks to promote and protect the human rights of workers. This includes rights to safe working conditions and adequate wages.

20. Utilize ethical and transparent marketing: Fair trade seeks to ensure that all marketing of goods and services is based on honesty and transparency.

21. Facilitate access to sustainable finance and capital: Fair trade seeks to provide access to sustainable capital to producers. This allows producers to invest in the future of their business and increase their ability to trade in a global marketplace.

The Cadbury-Livingstone Convention of 21, or CVC 21, is a set of rules designed to regulate the sale and purchase of goods. It was first published in 1952 by the Uniform Law Commission in response to the growing need for uniformity in the sale and purchase of goods.

The CVC 21 consists of four parts: General Provisions, Formation of the Contract, Performance and Breach, and Damages.

In the General Provisions section, the CVC 21 defines the terms “goods” and “services”. It also clarifies the concept of “express warranty”, which is a contractual guarantee regarding the condition, quality, or fitness of goods sold.

In the Formation of the Contract section, the CVC 21 outlines the requirements of negotiability and transfarability (if goods are purchased as a transferable asset) as well as breach of contract provisions.

The Performance and Breach section contains rules governing the performance requirements of each party to the contract. It also identifies the terms which constitute breach of the contract, including but not limited to failure to deliver or accept goods, or failure to pay for the goods on time.

Finally, the Damage section is designed to outline the remedies available to either party in the event that there is a breach of contract. Under this section, the CVC 21 provides for indemnification, liquidation, and set-off damages which correspond with compensatory and punitive damages.

The CVC 21 has been updated and expanded over the years to better meet the needs of consumers and businesses in the sale and purchase of goods. As a result, the CVC 21 has become an important source of legal guidance and protection for parties entering into any type of sale and purchase contract.