Federation of Oils, Seeds and Fats Associations

Federation of Oils, Seeds and Fats Associations LtdFile:FOSFA International Logo.png

Abbreviation| FOSFA International
Formation| 25 January 1968; 58 years ago (1968-01-25)
Type| Trade association
Legal status| Private company
Purpose| Representing the oil, seeds and fats industry
Headquarters| London, EC2, United Kingdom

Region served

| Worldwide

Membership

| 1208 companies in 89 countries

Chief Executive

| Iain Nicol

Main organ

| FOSFA Council (President - Leona Tout)

Staff

| 7
Website| www.fosfa.org

The Federation of Oils, Seeds and Fats Associations (FOSFA International) is an international trade association for the oil, seeds and fats industry that is based in London. It regulates legal contracts in the trade/industry.[1]

## History

FOSFA was incorporated in 1968. It serves communities in the United Kingdom.[2]

## Function

85% of worldwide trade in oils and fats is under FOSFA contracts.[3] It regulates trade in the industry. Its rules cover products transported with Cost, Insurance and Freight (CIF) or Freight on Board (FOB).

The advantage of having the vast majority of worldwide trade under FOSFA contracts is that using standard contracts reduces the risk of misinterpretations or misunderstandings between trading parties.[4] Additionally, these standard form contracts are familiar to trading parties and reflective of trade practices that are longstanding in the industry.

It holds week-long residential training courses during the Autumn at The University of Greenwich.

## References

1. ↑ Federation of Oils, Seeds and Fats Associations, Retrieved June 2011
2. ↑ "Information details". https://www.bloomberg.com/profile/company/1365626Z:LN.
3. ↑ "About us | FOSFA". https://www.fosfa.org/about-us/.
4. ↑ "Regulatory issues associated with the international oils & fats trade". https://www.aocs.org/stay-informed/inform-magazine/featured-articles/regulatory-issues-associated-with-the-international-oils-and-fats-trade-january-2011?SSO=True.

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