Calicut's handclasp price-fixing with the fleet
At Calicut, the fleet's envoy, the king's Muslim chief officials and local brokers met on an agreed day to value the Chinese silks and goods one by one. The price was sealed by a public clasping of hands, after which neither side could revise it. Local merchants then brought pepper and gems to be priced against that fixed standard, reckoning by fingers and toes rather than an abacus, a process that could take one to three months.