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Article Comparison - International Cocoa Agreement

Chapter II
Definitions

Article 2
Definitions

For the purposes of this Agreement:

1. Cocoa means cocoa beans and cocoa products;

2. Cocoa products means products made exclusively from cocoa beans, such as cocoa paste/liquor, cocoa butter, unsweetened cocoa powder, cocoa cake and cocoa nibs, as well as any other products containing cocoa as the Council may determine;

3. Cocoa year means the period of 12 months from 1 October to 30 September inclusive;

4. Contracting party means a Government, or an intergovernmental organization as provided for in article 4, which has consented to be bound by this Agreement provisionally or definitively;

5. Council means the International Cocoa Council referred to in article 6;

6. Daily price is the representative indicator of the international price of cocoa used for the purposes of this Agreement and computed in accordance with the provisions of article 40;

7. Entry into force means, except when qualified, the date on which this Agreement first enters into force, whether provisionally or definitively;

8. Exporting country or exporting Member means a country or a Member respectively whose exports of cocoa, expressed in terms of beans, exceed its imports. However, a country whose imports of cocoa, expressed in terms of beans, exceed its exports but whose production exceeds its imports may, if it so chooses, be an exporting Member;

9. Export of cocoa means any cocoa which leaves the customs territory of any country and import of cocoa means any cocoa which enters the customs territory of any country; provided that, for the purposes of these definitions, customs territory shall, in the case of a Member which comprises more than one customs territory, be deemed to refer to the combined customs territories of that Member;

10. Fine or flavour cocoa is cocoa recognized for its unique flavour and colour, and produced in countries designated in annex C of this Agreement;

11. Importing country or importing Member means a country or a Member respectively whose imports of cocoa, expressed in terms of beans, exceed its exports;

12. Member means a Contracting Party as defined above;

13. Organization means the International Cocoa Organization referred to in article 5;

14. Private sector comprises all private sector entities which have main activities in the cocoa sector, including farmers, traders, processors, manufacturers and research institutes. In the framework of this Agreement, the private sector also comprises public enterprises, agencies and institutions which, in certain countries, fulfil roles that are performed by private entities in other countries;

15. Producing country means a country which grows cocoa in commercially significant quantities;

16. Simple distributed majority vote means a majority of votes cast by exporting Members and a majority of votes cast by importing Members, counted separately;

17. Special Drawing Right (SDR) means the Special Drawing Right of the International Monetary Fund;

18. Special vote means two thirds of the votes cast by exporting Members and two thirds of the votes cast by importing Members, counted separately, on condition that at least five exporting Members and a majority of importing Members are present;

19. Sustainable cocoa economy is a system in which all stakeholders maintain productivity at levels that are economically viable, ecologically sound and culturally acceptable through the efficient management of resources;

20. Tonne means a mass of 1,000 kilograms or 2,204.6 pounds and pound means 453.597 grams;

21. Stocks of cocoa beans means all dry cocoa beans that can be identified as at the last day of the cocoa year (30 September), irrespective of location, ownership or intended use.