MEANING OF "MUDDAT"
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12 November 2010
what is the meaning of "MUDDAT" IN FOOD GRAIN MARKET.
PLEASE REPLY AS EARLY AS POSSIBLE IN DETAIL
PLEASE REPLY AS EARLY AS POSSIBLE IN DETAIL
12 November 2010
Muddat is nothing but deduction made by the Commission Agent from the amount payable to the seller if the seller requires payment earlier than the normal term.
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13 November 2010
Dear Mr Govind,
Suppose Ram sells his food grains for Rs 10000/ in Mandi through his (Commission) Agent Mohan & Co. Goods have been sold to Shyam & Co. or to xyz & Co. Ram has not to bother about it.
Now, Ram is eligible to get consideration from Mohan & Co. This payment is generally given after seven days of goods sold. But in case Ram is in urgent needs of money, he may request his agent to make payment immediately.
In such a case Mohan & Co. will deduct Say
1% of the amount payable i.e. Rs. 100/- and makes payment of Rs 9900/- towards full & final payment to Ram.
In this case Rs. 100/ is called Muddat.
Suppose Ram sells his food grains for Rs 10000/ in Mandi through his (Commission) Agent Mohan & Co. Goods have been sold to Shyam & Co. or to xyz & Co. Ram has not to bother about it.
Now, Ram is eligible to get consideration from Mohan & Co. This payment is generally given after seven days of goods sold. But in case Ram is in urgent needs of money, he may request his agent to make payment immediately.
In such a case Mohan & Co. will deduct Say
1% of the amount payable i.e. Rs. 100/- and makes payment of Rs 9900/- towards full & final payment to Ram.
In this case Rs. 100/ is called Muddat.
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14 November 2010
sir it means this RS.100 IS INCOME OF THE COMMISSION AGENT
14 November 2010
Yes. Like commission it's additional income of the Agent which he is getting for making payment earlier than the normal stipulated time.
16 November 2010
sir can u plz tell me the meaning of arhat in food grain market. i think its like commission then what is the difference between arhat and commission. plz give in detail.
16 November 2010
You have rightly said that Adhat or arhat is
a type of commission. The commission agent is known as Arhatia. Farmers desiring to sale their commodities in the Mandi(s). They do not get immediate payments from the buyers who are unknown to them. If they are selling thru Arhatia then the Arhatia is taking responsibility for the payment. For that a normal commission (Arhat)according to the Rules and Bye-laws of Mandi Committees is charged from the farmers or food grain sellers.
a type of commission. The commission agent is known as Arhatia. Farmers desiring to sale their commodities in the Mandi(s). They do not get immediate payments from the buyers who are unknown to them. If they are selling thru Arhatia then the Arhatia is taking responsibility for the payment. For that a normal commission (Arhat)according to the Rules and Bye-laws of Mandi Committees is charged from the farmers or food grain sellers.
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