KARACHI: Pakistan Edible Oil Refiners Association (PEROA) in collaboration with Federation of Oils, Seeds and Fats Association Limited (FOSFA) is organizing a Two Day Seminar on ‘PEORA – FOSFA TRADE’ in Karachi on 11th and 12th December 2012.
The Federation of Oils, Seeds and Fats Associations (FOSFA) is a professional international contract issuing and arbitral body concerned exclusively with the world trade in oilseeds, oils and fats with 975 members in 79 countries. These members include producers and processors, shippers and dealers, traders, brokers and agents, superintendents, analysts, ship-owners, and others providing services to traders.
FOSFA has an extensive range of standard forms of contracts covering goods shipped either CIF, C&F or FOB, for soybeans, sunflower seeds, rapeseed, and others, vegetable and marine oils and fats, refined oils and fats, from all origins worldwide, for different methods of transportation and different terms of trade. Internationally, 85% of the global trade in oils and fats is traded under FOSFA contracts. The Federation’s contracts incorporate a dispute procedure involving arbitration by experienced individuals from within the trade.
Pakistan is the third largest importer of Palm Oil and other Soft Oils. In addition to that Pakistan imports one million tons of Oil Seeds. All these contracts are governed by FOSFA terms and conditions.