Federation of Oils, Seeds and Fats Associations

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Federation of Oils, Seeds and Fats Associations Ltd

Abbreviation	FOSFA International
Formation	25 January 1968; 54 years ago (1968-01-25)
Type	Trade association
Legal status	Private company
Purpose	Oil, seeds and fats
Headquarters	London, EC2 United Kingdom
Region served	Worldwide
Membership	1174 companies in 89 countries
Chief Executive	Iain Nicol
Main organ	FOSFA Council (President - Daan C Vriens)
Staff	7
Website	www.fosfa.org

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

History[]

FOSFA was formed from four other previous organisations in 1968.^{[citation needed]}

It used to be based at 20 St Dunstan's Hill, London EC3R 8NQ.^{[citation needed]}

Structure[]

Function[]

85% of worldwide trade in oils and fats is under FOSFA contracts.^[2] 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.^[3] 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 summer and Autumn at Royal Holloway, University of London.

See also[]

• - linked to the Food and Drink Federation
• - FEDIOL

References[]