Join the DÉLO club and be the first to know.
     

Fosfa Agreement

Posted on

FEDERATION OF OILS, SEEDS AND FATS ASSOCIATIONS LIMITED. FOSFA 57 FOR VEGETABLE AND MARINE OIL FREE DELIVERED BY TANK CARS (ROAD AND RAIL) / ISO TANK CONTAINERS. SELLERS: BUYERS: BROKERS: An asterisk refers to alternative formulations and should be a matter of agreement between the parties. Sellers agreed to sell and buyers agreed to purchase goods as described below on the terms below. In addition, optional and specific clauses regarding certain contracts and/or agreements between sellers and buyers are available. FEDERATION OF OILS, SEEDS AND FATS ASSOCIATIONS LIMITED. FOSFA INTERNATIONAL CONTRACT 25 FOR SOYABEANS IN BULK CIF TERMS. Redesigned and effective by. Reference number SELLERS: BUYERS: BROKERS: Date: to an alternative formulation, and should be a matter of agreement between the Asterisk called alternative formulation, and should be issue of agreement between the parties.

We can prepare a contract between seller and buyer through brokers based on our own experience of the fosfa conditions applied. FEDERATION OF OILS, SEEDS AND FATS ASSOCIATIONS LIMITED. FOSFA INTERNATIONAL CONTRACT 4A EUROPEAN OILSEEDS IN BULK. FOB STOWED AND TRIMMED TERMS 4A. Revised and effective from January 1. SELLERS: BUYERS: Brokers: Date: An asterisk refers to an alternative formulation and should be a matter of agreement between the parties. The sellers agreed to sell and the buyers agreed to buy – say – 1000 kilograms – in bulk to say – per ton of 1000 kilos free ON BOARD (ranked and cut) to be in good condition at _geladen. Sellers have the option to declare – as an alternative or additional loading port.

John Hancock is Technical Director of FOSFA International, based in London. He defended and promoted the interests of the oil and fat trade in many national, regional and international technical fields. This article is based on his presentation at the Oils – Fats International Congress in Kuala Lumpur, Malaysia, in October 2010. Contact him at the John.Hancock@fosfa.org. FOSFA Arbitrator lists all disputes that are related to the breach of obligations by the parties to agreements on oil, seeds or fat supply, which contain the above FOSFA rules of arbitration and appeal. In particular, the Arbitration Tribunal settles disputes relating to the violation of delivery and procedural obligations, late payments, the inconformity of quantity and quality of goods delivered under the terms set out in the agreements, disputes over the devaluation and recovery procedure, and other cases in which one of the parties is late. Traders must understand all these laws and rules and, in particular, they must be fully familiar with their contracts. Also remember that, in the vast majority of the time, we are dealing with the food industry and that the large quantities of oils and fats produced in the world are destined for human consumption.

Today, food production involves risk management and this risk must be managed at all levels of the food chain, from farm to fork. One of the most critical areas at risk is the transport of petroleum and fat products by sea in bulk from producing countries to consumer countries. The main reason is that the oils in transit are not under the direct control of one of the commercial parties. For the duration of the trip, they are the responsibility of a third party, that is, the shipowner. During this link in the food chain, a vessel carrying food oil must comply with the legislation developed by the IMO. The advantage of global trade under FOSFA contracts is that the use of model contracts reduces the risk of misinterpretation or misunderstanding between trading partners. [3] In addition, these standard form contracts are familiar with trading partners and reflect long-established business practices in the sector. IT`S FOSFA.

The Federation`s contracts involve a litigation procedure with the arbitration of experienced traders. LIST OF CONTRACTS AVAILABLE BY FOSFA INTERNATIONAL.

share
0