; or (ii) any adjustment to the base for quality, grade, or other factors relating to the value of livestock or livestock products that are readily verifiable market factors and are outside the control of the packer. (16) Forward contract The term forward contract means an oral or written contract for the purchase of livestock that provides for the delivery of the livestock to a packer at a date that is more than 7 days after the date on which the contract is entered into, without regard to whether the contract is for— (A) a specified lot of livestock; or (B) a specified number of livestock over a certain period of time. . 205. Unlawful practices (a) In general Section 202 of the Packers and Stockyards Act, 1921 ( 7 U.S.C. 192 ), is amended— (1) by redesignating subsections (a) through (f) and (g) as paragraphs (1) through (6) and (10), respectively, and indenting appropriately; (2) by striking the section designation and all that follows through It shall be in the matter preceding paragraph (1) (as so redesignated) and inserting the following: 202. Unlawful acts (a) In general It shall be ; (3) in subsection (a)— (A) in the matter preceding paragraph (1) (as so redesignated), by striking to: and inserting to do any of the following: ; (B) in each of paragraphs (1) through (6) (as so redesignated), by striking ; or each place it appears and inserting a period; (C) in paragraph (6) (as so redesignated)— (i) by striking (1) and inserting (A) ; (ii) by striking (2) and inserting (B) ; and (iii) by striking (3) and inserting (C) ; (D) by inserting after paragraph (6) the following: (7) Use, in effectuating any sale of livestock, a forward contract that— (A) does not contain a firm base price that may be equated to a fixed dollar amount on the date on which the forward contract is entered into; (B) is not offered for bid in an open, public manner under which— (i) buyers and sellers have the opportunity to participate in the bid; (ii) more than 1 blind bid is solicited