Committees
For the trade, By the trade, With the trade
Putting the interests of the trade at the forefront
FOSFA was founded on the principle of acting for the trade and being governed by the trade. This principle led to the formation of our Council which is supported by five specialist committees – Oilseeds, Oils & Fats, Contracts, Arbitrations & Appeals, and Technical.
Our committees consist of members who represent all aspects of the supply chain, including producers and processors, shippers and dealers, traders, brokers and agents, superintendents, analysts, shipowners, and arbitrators.
The role of our committees, as outlined in the original Memorandum of Understanding of 1967, is to:
- Promote trade in oils, oilseeds and fats and establish and maintain uniformity in commercial usages with regards to FOSFA’s Standard Forms of Contract and other documents connected with the trade.
- Prevent any steps that are directly or indirectly there to prevent or restrict competition, either between members or between members and non-members, whether that is by way of controlling prices, terms, markets or otherwise.
- To act as arbitrator and/or appoint arbitrators to act in the settlement of disputes arising out of transactions in or relating to the trade.
Members serving on our committees are industry representatives from multiple regions who have extensive knowledge in the global trade and shipping of oilseeds, oils and fats.
Each committee represents a fair balance between buyers and shippers and, together with the FOSFA Council, directs and oversees the activities undertaken by the secretariat on behalf of the Federation.
Committee Structure
