FOSFA Inter FOSFA Internation national al 20 St Dunstan’s Hill London, EC3R 8NQ, UK Tel: +44 (0)20 7283 5511 Fax:+44 (0)20 7623 1310 E-mail:
[email protected]
Professional contractual and arbitral association promoting the trade in oils, seeds and fats globally
Introduction The Federation was founded in 1971 on the amalgamation of four predecessor associations, the oldest of which dates back to 1863. Today the Federation represents over 960 members in 79 countrie countries. s. FOSFA FOSFA is a professional international contract issuing and arbitral body concerned exclusively with the world trade in oilseeds, oils, fats and edible groundnuts and is the major association of its kind in the field. World trade in oilseeds, oils, fats and edible peanuts involves the physical movement of tens of millions of tons each year. In addition, many parcels change hands more than once. Every country in the world consumes oilseeds, oils and fats and most are involved in the import/export of these commodities as raw materials or products. The inevitable result is hundreds of thousands of individual contracts with a combined annual turnover running into billions of dollars. Much of this trade takes place between people who do not share a common language and who operate under different legal systems; and without some standardisation of contract terms and language, participants could find themselves faced with vast numbers of disputes, possibly with costly, lengthy and unnecessary litigation. Membership of the Federation is open to any individual, company or organisation actively involved in the trade of oilseeds, oils and fats or groundnuts, or in the supply of services related to these trades. The majority of members are drawn from the following sectors: producers and processors, shippers and dealers, traders, brokers and agents, superintendents, analysts, shipowners, tank storage companies, and others providing services to traders.
Contracts FOSFA has an extensive range of standard forms of contracts covering goods shipped either CIF, CIF, C&F or FOB. The contracts provide the terms of trade for the oilseeds, oils and fats and groundnut commodities. They cover the principal oilseeds (soybeans, sunflowerseeds, rapeseed and others), vegetable and marine oils and fats, refined oils and fats and groundnuts, from different origins worldwide, and for different methods of transportation or for different terms of trade. Internationally, 85% of the global trade in oils and fats is traded under FOSFA contra contracts. cts. The Federation’s contracts are drawn up by the members to suit trade practices, through elected specialist committees, involving participation from many countries and ensuring a fair balance between buyers and sellers, from the producers to the receivers. Many are joint contracts, established in agreement with other trade associations worldwide. These contracts are regularly updated and amended as trade terms change or circumstances dictate.
Contract Referred Documents The movement of bulk liquid cargoes requires that vessels operate to a high standard and that particular attention is paid to the necessity to obviate risks of contamination from previous cargoes. All ships loading oils and fats under the terms of the Federation’s contracts are required to comply with certain qualifications and to adhere to specific operational procedures as laid down from time to time. Contract referred documents cover Ships Qualifications, Operational Procedures, Combined Masters Certificate, Certificate of Ships Cleanliness and previous cargo lists. The Federation has been involved in considerable research to determine the degree of compatibility or otherwise of a whole range of substances and both publishes and updates international lists for Acceptable and Banned previous cargoes, one of which becomes an essential and mandatory part of all FOSFA CIF bulk liquid contracts and provides a large measure of safety for all concerned. This work is on-going and involves the participation of all sectors of the trade, including shipowners and technical experts, and increasingly IMO.
Services to the Trade - Superintendents and Analysts As with many international contracts, payment is customarily made for very large sums of money, against a set of documents before the buyer has seen the goods. It follows that heavy reliance has to be placed on the validity and accuracy of a full set of documents provided, in particular on those which confirm both the weight and quality of the goods supplied.
Federation of Oils, Seeds and Fats Associations Ltd
www.fosfa.org www. fosfa.org
FOSFA International 20 St Dunstan’s Hill London, EC3R 8NQ, UK Tel: +44 (0)20 7283 5511 Fax:+44 (0)20 7623 1310 E-mail:
[email protected]
Professional contractual and arbitral association promoting the trade in oils, seeds and fats globally
Independent superintendents are appointed to assess the weight and to draw representative samples, whilst independent analysts provide the appropriate quality certificates based on these samples. These are vital functions involving considerable responsibility and the Federation has developed detailed codes of practice to ensure that maximum reliance can be placed on such documents. Furthermore, under the standard contract terms, they can only be issued by companies that have been authorised, as is evidenced by their membership, and in the case of analysts, regular competence tests.
Arbitration and Appeals The Federation offers a well respected Arbitration Service through which when contractual disputes do arise, the delay and expense of taking a case to court is avoided. Contractual disputes are judged by members of the trade, commercial people who are in touch with current market practices and behaviour. An average of 80 arbitration cases are processed each year, a small number overall when seen in the context of the volumes traded on FOSFA contracts annually. FOSFA operates a range of arbitration services. If either party to an arbitration award is dissatisfied with the outcome, they have the right to appeal and to ask for a fresh hearing. The Federation facilitates the appeal process and appoints a Board of Appeal from its Appeal Panel which has jurisdiction over the subsequent proceedings. Arbitrators must be members of the Association who are or have been engaged in the trade. Members are entitled to preferential rates for the purchase of Contract Forms, Rules and Arbitration Services.
Trade Policy The Federation represents the interests of its members to government departments, authorities and international and national organisations. FOSFA monitor and take relevant procedures concerning international and national legislation which could impact on the oilseeds, oils and fats and groundnut trades and affect the terms of the contracts. A regular newsletter keeps the global membership up to date on key policy and trade developments, the activities of the Association and its members and forthcoming events.
Career Development The Federation holds training programmes for the trade which are globally recognised. FOSFA runs two types of residential courses which offer unique training courses for all aspects of the oilseeds, oils and fats and groundnut trade. The Basic Introductory Course is the foundation course for junior members of the industry and the five day course covers contracts and contract referred documents, arbitration and appeal, shipping, insurance, commodity banking and technical matters. The Middle Managers course is a globally recognised trade managers programme. Trade Managers with a minimum requirement of three years in the trade qualify for admission on the course. The five day management course covers all aspects of current trade practices and regulations, as well as introducing specialist case studies and group discussions.
Federation's Structure A professional and committed staff led by the Chief Executive manages FOSFA activities and implements the decisions of the Council, service the needs of its members and supports its many committees. Members have the right to refer any matters to the Council/Chief Executive and to participate in the election of appropriate representatives. FOSFA participates in representation at IMO, ISO and CODEX. The Council, chaired by the President, is elected annually by the membership and taking advice from similarly elected section and specialist committees, representing the different areas of the trade. FOSFA Committees -
Council Oilseeds Oils and Fats Selected Groundnuts Contracts Technical Arbitrations and Appeals
Federation of Oils, Seeds and Fats Associations Ltd
www.fosfa.org
FOSFA International 20 St Dunstan’s Hill London, EC3R 8NQ, UK Tel: +44 (0)20 7283 5511 Fax:+44 (0)20 7623 1310 E-mail:
[email protected]
Professional contractual and arbitral association promoting the trade in oils, seeds and fats globally
Membership Benefits The Federation is able to offer many services to members, which includes -
A voice in the way international trade is conducted Direct involvement in committee work, influencing trade practices FOSFA standard form contracts and contract referred documents Arbitration facilities and electronic access to Awards (publication service) Superintendents and Analysts Schemes FOSFA Handbook containing member contact details Advisory services covering contractual, legal and technical areas Trade training and professional development programmes A wide range of free or discounted publications and services Access to FOSFA.net (private members website) A quarterly Newsletter of interest to all members Information on FOSFA and other trade events, providing networking opportunities
Membership Applications for membership require to be proposed and seconded by two existing members, one of which must be a trading member, although the Secretariat will be pleased to assist in any cases where this may create a problem. Whist admission to membership does not imply any guarantee by the Federation of a member's standing or integrity, the Council reserves the right to refuse applications, without giving reasons, if it is felt to be in the interests of the existing members. There are several different categories of membership at varying rates of annual subscription. These are revised periodically by the Council but maintained at the lowest possible level and are assisted by the income generated from the provision of other services, including those supplied to non-members. The details are set out in the Federation's price list.
Membership Categories Trading Members which shall be companies, firms, sole traders, organisations or others carrying on business as principals to contracts in the commodities covered by the Federation. Broker Members (Full or Associate) which shall be companies, firms, sole traders, organisations or others which do not act as principals to Federation contracts and only receive remuneration in the form of commission from either or both of the contracting principals concerned. Analyst Members (Full Analyst or Associated Analyst) which shall be laboratories or analysts not associated with any company, firm or organisation engaged in the trade in Federation commodities and restricted to laboratories or analysts recognised by the Federation for the purposes of analyses carried out under the terms of the Federation's contracts. Superintendent Members which shall be restricted to independent superintendents recognised by the Federation for the purposes of superintending under the terms of the Federation's contracts. Non-Trading Members (Full or Associate) which shall be organisations or others not eligible in any or such other specialist categories from time to time in being. Kindred Associations the Federation has 20 member kindred associations on 6 continents representing the trade in oils, seeds and fats globally. Further information on all aspects of our services can be ascertained by contact with the Federation.
Federation of Oils, Seeds and Fats Associations Ltd
www.fosfa.org
www.fosfa.org/fosfanet One of the benefits of membership is access to an exclusive members website FOSFA.net which is a secure and closed internet site (Intranet). The site contains a number of sections, several of which are highlighted below -
About Us Introduction to the Federation and details about membership.
Arbitration Information on the services offered by FOSFA, the Guide/Rules of Arbitration and Appeal and details about the FOSFA Published Awards Service.
Carriage of Oils and Fats Details about the various Contract Referred Documents, Heating Instructions, ISO Tank Containers, Prescribed Report Forms and other Lists/Reference Documents.
Contracts/Clauses Individual FOSFA Contracts, Optional Clauses, Insurance Clauses/Exclusions and Settlement Prices.
Members Electronic directory of membership by category, section, country and name.
News/Events Details of forthcoming events, trade news/updates, the FOSFA Newsletter and various other published articles of interest to the oilseeds and oils and fats trade.
Technical Details about the Superintendents and Analysts Schemes, Sampling and Analysis Methods, the Code of Practice for Member Superintendents, the Technical Manual, Complaints Procedures, Glossaries and the Technical Bulletin.
Training/Education Information and registration forms for Conferences, Residential Courses and Seminars.
Website Links Useful points of contact/website links, including shipping, insurance and trade bodies.
FOSFA.net access details are provided upon admission to membership and, thereafter, on payment of annual subscriptions.
www.fosfa.org/fosfanet
ON-LINE PUBLISHED AWARDS SERVICE
The FOSFA Published Awards database comprises over 360 awards made up, in the main, by first-tier arbitration cases. However, where such awards have been challenged by one or other party, the FOSFA appeal award has been incorporated into the file, thus presenting both formal decision processes in respect of the dispute. (Amendments made to awards under the Slip Rule, Section 57 (1996 Act) have been incorporated). The same principle applies to court referrals, with a brief executive summary for those few cases where the courts have been involved. Transcriptions of court proceedings are not usually provided to FOSFA, unless of course they become significant case law and are published in the public domain. The Published Awards Service provides a membership benefit and a unique source of information to interested parties, thus aiding trade knowledge and highlighting procedural matters. Periodically, new awards are added to the database (typically 15 a year), but this is always subject to a supply of awards becoming available. The cases relate to disputes arising from contracts entered into from 1994, and currently cover up to 2008, early 2009. All awards are edited to take out the names of parties and service providers in order to maintain the anonymity of those involved. FOSFA has applied its best efforts and knowledge to this editorial function. This is an inclusive service to all members.
Published Awards Search Facility This search facility draws on the FOSFA Published Awards Database. Three search categories are available -
Commodity FOSFA Contract Number Dispute Issue
The database facility allows selection under each category, for example:
Commodity:
Palm oil
FOSFA Contract No:
80
Dispute issue:
Dumurrage
Submit your query to obtain results of the Award/s available in the database that match these criteria. Please note that many combinations are not relevant, such as Sunflower on FOSFA 80.
PRICE LIST FEDERATION OF OILS, SEEDS & F ATS ASSOCIATIONS LTD, 20 ST DUNSTAN’S HILL, LONDON, EC3R 8NQ, UK Tel: +44 (0)20 7283 5511 Fax: +44 (0)20 7623 1310 E-mail:
[email protected]
MEMBERSHIP SUBSCRIPTIONS
TRADING MEMBER (Annual turnover 100,000 Tons or over) Covers 3 Representatives Free copy FOSFA Manual and Amendment Service Free copy FOSFA Technical Manual and Amendment Service Consultancy and Advisory Service Discount on Arbitration and Appeal Fees
£1,250
TRADING MEMBER (Annual turnover 5,000 - 100,000 Tons) Covers 2 Representatives Consultancy and Advisory Service Discount on Arbitration and Appeal Fees
£ 975
TRADING MEMBER (Annual turnover of less than 5,000 Tons) Covers 1 Representative Consultancy and Advisory Service Discount on Arbitration and Appeal Fees
£ 675
TRADING OR NON-TRADING MEMBER (SELECTED GROUNDNUTS SECTION ONLY) Covers 1 Representative Consultancy and Advisory Service Discount on Arbitration and Appeal Fees
£ 200
FULL NON-TRADING MEMBER Covers 1 Representative Consultancy and Advisory Service
£ 675
ASSOCIATE NON-TRADING MEMBER Covers 1 Representative Consultancy and Advisory Service
£ 500
FULL BROKER MEMBER Covers 1 Representative Consultancy and Advisory Service
£ 500
ASSOCIATE BROKER MEMBER Covers 1 Representative Consultancy and Advisory Service
£ 250
FOSFA FULL ANALYSTS Covers 1 Representative
£ 675
FOSFA ASSOCIATE ANALYSTS Covers 1 Representative
£ 600
SUPERINTENDENT MEMBER Covers 1 Representative
£ 675
KINDRED ASSOCIATION Covers 1 Representative
£ 500
ADDITIONAL REPRESENTATIVES (i.e. those not covered by the basic subscription) (VAT is charged to UK Companies only)
£
40 each
May 2013
PUBLICATIONS
Members MEMBERSHIP CERTIFICATE FOSFA MANUAL This publication contains eight sections, four sections of Contracts and Contractual Clauses, the other sections the Rules of Arbitration and Appeal, the Guide to Arbitration and Appeal and Institute/FOSFA Insurance Clauses
Non-Members
£ 10
£ 70
£ 120
£ 40
£ 70
£ 50
£ 75
TECHNICAL MANUAL AMENDMENT SERVICE Automatic updating service per annum
£ 30
£ 55
BOTH MANUAL
£ 100
£ 170
BOTH MANUAL AMENDMENT SERVICE Automatic updating service per annum
£ 60
£ 115
Initial Copy (and Amendment Service) Additional Copies (and Amendment Service)
Free £ 30
£ 30 £ 30
RULES OF ARBITRATION AND APPEAL
£
5
£ 15
RULES OF ARBITRATION FOR BROKERS COMMISSION AND INTEREST
£
5
£ 15
SMALL CLAIM SINGLE TIER RULES OF ARBITRATION
£
5
£ 15
GUIDE TO ARBITRATIONS AND APPEALS
Free on request
CODE OF PRACTICE FOR ARBITRATORS
Free on request
FOSFA MANUAL AMENDMENT SERVICE Automatic updating service per annum TECHNICAL MANUAL This publication contains analysis and sampling methods relating to FOSFA contracts
CARRIAGE OF OILS AND FATS DOCUMENTS Loose leafed manual publication containing Ships Qualifications and Operational Procedures, related Certificates and the Banned and Acceptable Previous Cargo Lists
FOSFA HANDBOOK Issued in April each year, this publication lists members by category, with a brief description of their activities, the Federation's Rules and Regulations, Officials and Committee details Initial Copy Additional Copies
Free £ 20
£ 50 £ 35
Free £ 30
£ 65
£
£ 15
CODE OF PRACTICE FOR FOSFA APPROVED SUPERINTENDENTS This publication covers the procedures for superintending of shore installations, and on board ships in relation to oils and fats, oilseeds and selected groundnuts Member Superintendents Initial Copy Additional Copies/Other categories of Membership CONTRACTS PER COPY* Members rate applicable to AIC, NFU and NEODA Members *For bulk orders, prices on request (VAT is charged to UK Companies only)
5
May 2013
ARBITRATION AND APPEAL SERVICES ARBITRATION AND APPEAL (TWO TIER) SERVICE APPOINTMENT OF ARBITRATOR OR UMPIRE BY FOSFA Members (including Members of AIC/NFU in disputes on Contract No 26A only, Members of NEODA in disputes on Contract No 90 only, and Members of ANEC in disputes under any ANEC Contract) Non-Members
£
100
£
250
FEES Federation Fees calculated as follows - Basic charge of £750 per award - Discount of £250 where both parties are Members - Additional charge of £750 for each Non-Member - Above total subject to a discount where small tonnages (mt) are involved i.e. - up to 25 mt - 75%; 26-50 mt - 65%; 51-100 mt - 50%; 101-150 mt - 40%; 151-250 mt - 25% - Additional net charge of £10 for each page in excess of four pages - Notwithstanding the net result of the above a minimum charge of £300 to apply Arbitrators/Umpires’ Fees - Fixed by the Arbitrators/Umpire at their discretion and charged in addition to Federation Fees APPEAL DEPOSITS In all Cases FEES Federation Fee 50% discount when both parties are Members (including Members of AIC/NFU in disputes on Contract No 26A only, Members of NEODA in disputes on Contract No 90 only, and Members of ANEC in disputes under any ANEC Contract)
£10,000
£ 2,000
Board Fees - Fixed by the Board at their discretion and charged in addition to Federation Fees
SMALL CLAIMS SINGLE TIER ARBITRATION SERVICE FEES Federation Fees (including appointment of Sole Arbitrator) - Additional charge of £250 for each Non-Member
£
250
£
100
Sole Arbitrator Fees - Fixed by the Arbitrator at his/her discretion up to a maximum of £500 and charged in addition to Federation Fees
BROKERAGE COMMISSION AND INTEREST ARBITRATION SERVICE This service is restricted to Broker Members and includes the appointment of a Sole Arbitrator FEES Federation Fee (Members only) Sole Arbitrator Fees - Fixed by the Arbitrator at his/her discretion and charged in addition to Federation Fees
May 2013
PUBLISHED AWARDS SERVICE Members FOSFA.net Published Awards Service The Published Awards Service which is a Members only service consists of a secure password searchable database on FOSFA.net of over 360 awards which mostly consist of first tier Arbitration Awards, but where such Awards have been challenged, the FOSFA Appeal Award has been incorporated into the file, thus presenting both formal decision processes in respect of the dispute. Periodically, new awards will be added to the database, up to 15 per year
Free
ANALYST SEALS Members Price per 100 (VAT is charged to UK Companies only)
£
75
NEWSLETTER ADVERTISING
NEWSLETTER ADVERTISING One Page Half Page Back Page (VAT is charged on all advertising)
Members
Non-Members
£ 250 £ 125 £ 300
£ 600 £ 300 £ 650
May 2013
LIST OF CONTRACTS AVAILABLE FROM FOSFA INTERNATIONAL AS AT JANUARY 2013 REVISED AND/ OR EFFECTIVE 2
Copra - CIF Terms
January 2013
3
Sheanuts - CIF Terms
January 2013
4
Oilseeds - FOB Terms
September 2010
4A
European Oilseeds - FOB Terms
September 2010
5
Argentine/Uruguay Linseed - CIF Terms
January 2013
9
USA/Canadian Flaxseed - CIF Terms
January 2013
9A
UK Linseed in Bulk - Ex Farm/Delivered Terms
11
Oilseeds - CIF Terms
January 2013
11A
USA/Canadian Sunflowerseed - CIF Terms
January 2013
13
Sesameseed - CIF Terms
January 2013
16
Cottonseed - CIF Terms
January 2013
23
South American Soyabeans - CIFFO Terms
January 2013
24
Canadian/USA Soyabeans - CIF Terms
January 2013
25
Soyabeans - CIF Terms
January 2013
26
European Oilseeds - CIF Terms
January 2013
26A
UK Rapeseed - Ex Farm/Delivered Terms (Issued in conjunction with AIC)
January 2013
27
Oilseeds - Collection/Ex-Silo Terms
September 2010
28
Oilseeds - Free Delivered Terms
September 2010
29
Palm Kernels - CIF Terms
January 2013
32
Full Container Loads - FCL Terms
January 2013
34
Selected Groundnuts in Shell/Groundnut Kernels - C&F Terms
January 2013
35
Full Container Loads Selected Groundnuts in Shell/Groundnut Kernels - CIF/C&F Terms
36
Canadian Rapeseed - CIF/C&F Terms
37
Selected Groundnuts in Shell/Groundnut Kernels - Spot Conditions
39
Full Container Loads Argentine Selected Groundnuts in Shell/Groundnut Kernels - CIF/C&F Terms
49
Gum/Wood/Tall Oil Rosin - CIF Terms
51
Argentine Soft Oils - FOB Terms (Issued in conjunction with CIARA)
January 2013
52
Sunflowerseed Oil in Bulk European Ports - FOB Terms
January 2013
September 2010
September 2008 January 2013 September 2008 January 2013 September 2008
53
Vegetable and Marine Oil - FOB Terms
54
Vegetable and Marine Oil - CIF Terms
September 2008
55
Linseed Oil - CIF Terms
September 2008
56
Vegetable and Marine Oil - Collection/Ex Works Terms
September 2008
57
Vegetable and Marine Oil - Free Delivered Terms
September 2008
58
Olive Oils and Olive-Pomace Oils - Collection/Ex Works Terms
January 2012
59
Olive Oils and Olive-Pomace Oils - Free Delivered Terms
January 2012
60
Fatty Acid Methyl Esters - FOB Terms
January 2013
61
Fatty Acid Methyl Esters - CIF Terms
September 2010
62
Oils and Fats - Ex Tank UK Terms
September 2008
69
Technical Tallows and Greases - CIF Terms
September 2008
70
Inedible Dripping/Tallow/Animal Fat - Delivered/Ex Works Terms
January 2012
76
General Business Oilseeds etc - CIF Terms
January 2013
79
General Business - Delivered/Ex Works Terms
September 2008
80
Crude Unbleached Palm Oil - CIF Terms (Issued in conjunction with MPOA)
September 2008
81
Palm and Palm Kernel Oil Products (Issued jointly with PORAM, MEOMA)
September 2011
82
Crude Unbleached Palm Oil - FOB Terms (Issued in conjunction with GAPKI)
90
Refined Edible Oils and Fats - Delivered Terms (issued jointly with NEODA)
September 2008
91
UK Produced Acid Oil - Delivered/Ex Works Terms
September 2008
92
Refined Oils and Fats - Delivered Ex Works UK Terms (Issued jointly with SCOPA)
September 2008
93
UK Delivered Feed Fat - Delivered Terms (Issued jointly with Feed Fat Association)
September 2008
95
Brokerage
September 2008
201
African Crude Groundnut Oil - CIF Terms
September 2008
202
African Crude Groundnut Oil - FOB Terms
Short Form
January 2013
January 2013
January 2013
- This contract can be used in conjunction with a relevant form in cases where special conditions or modifications to that form are required (revised and effective 1 October 2004)
Membership Appli cation Form: Trading, Non-Trading and Broker Categories FOSFA International, 20 St Dunst an's Hill
Tel: +44 20 7283 5511
Lon don EC3R 8NQ, UK
Fax: +44 20 7623 1310
E-mail:
[email protected] Web:
www.fosfa.org
We hereby apply for membership of the Federation of Oils, Seeds and Fats Associations Limited and, in the event of our being accepted, authorise entry of our name into the Register of Members of the Federation. Furthermore, we agree to abide by the Rules and Regulations governing membership (which can be found on the FOSFA web site and in the Federation's Handbook).
Name of App licant Ad dr ess
Tel
Fax
E-mail
Telex Place of Registration
Web Date of Formation
VAT No (if applicable)
Nature of Bus iness Name/s of Director/s or Partners Details of your capital and other financial details that you consider appropriate:
Description of business activities and particular commodities involved:
Are you or have you been in any way associated financially or otherwise with any past or present member of FOSFA? Yes
No
If yes, please give details:
We hereby apply for membership and shall comply with the FOSFA terms and conditions (tick relevant box):
Trading Member
Full / Asso ciate* Broker Member
Full / A ssociate* Non-Trading Member
*Delete as appropriate.
If ac cep ted i nt o m em ber sh ip , w e w is h t o b e r ep res en ted i n t he Sec ti on /s i nd ic at ed b el ow an d n om in at e t he p er so n/s named against each Section as o ur r epresentative/s. Oilseeds Section
Name/s
Oils and Fats Section
Name/s
Selected Groundnuts Section
Name/s
TRADERS DECLARATION: If you are principals to trading contracts, then please tick the appropriate box to indicate your total annual turnover of commodities negotiated under FOSFA contracts:
Up to 5000 tons Signature
5000 to 100,000 tons Name
Over 100,000 tons Date
BROKERS DECLARATION: I delcare that, so far as commodities traded under FOSFA terms are concerned, on entering into membership and thereafter as a member, I will act only as a broker and not as a principal.
Signature
Name
Date
This application is proposed and seconded by the following members of the Federation. One of these must be a trading member and neither can be affiliated to the applicant.
Company
Signature
Print
Company
Signature
Print
On admission to membership a member becomes liable to pay an Annual Subscription which, thereafter, becomes payable on 1 April each year.
MEMBERSHIP - TERMS AND CONDITIONS
MEMBERSHIP OF THE FEDERATION SHALL CONSIST OF THE FOLLOWING CATEGORIES -
Trading Members which shall be companies, firms, sole traders, organisations or others carrying on business as principals to contracts in the commodities covered by the Federation. Broker Members (Full or Associate) which shall be companies, firms, organisations or others which do not act as principals to Federation contracts and only receive remuneration in the form of commission from either or both of the contracting principals concerned. Brokers in this category cannot be admitted under any other category of membership. Non-Trading Members (Full or Associate) which shall be organisations or others not eligible in any or such other specialist categories from time to time in being. Individual Members which shall be restricted to retired members and nominees. Past Presidents on their retirement and such other retired persons as the Federation sees fit to nominate as a recognition of their services to the trade, shall become Individual Members. This category of membership is not open to applicants. EACH MEMBER SHALL COMPLY WITH THE TERMS AND CONDITIONS OF MEMBERSHIP AS LAID DOWN BY THE COUNCIL FROM TIME TO TIME AND, IN PARTICULAR Trading Members or their representative/s shall have the right to attend Section Annual Meetings and General Meetings of the Federation. Each Trading Member has the right to one vote at such meetings. They have the right, if elected, to serve on the Council, Section or other Committees. They shall have the right to nominate as many representatives as they wish in accordance with the Rules. (The Council shall decide from time to time the number of representatives to be covered by the Basic Subscription). They are entitled to such discount on arbitration and appeal fees and on other services provided by the Federation as the Council shall from time to time determine. They are also entitled to free use of the consultancy and advisory service and the legal and technical information service (except where legal or specialised advice is provided and charged to the Federation). Full Broker Members or their representative/s shall have the right to attend Section Annual Meetings and General Meetings of the Federation. Each Full Broker Member has the right to one vote at such meetings. They have the right, if elected, to serve on the Council, Section or other Committees. In addition, they are entitled to elect annually by postal ballot a Full Broker Member or one of the representatives to serve on each of the Federation's Section Committees. They shall have the right to nominate as many representatives as they wish but only one shall be included in the Basic Subscription. They are entitled to such discount as the Council shall from time to time determine on services provided by the Federation. They are also entitled to free use of the consultancy and advisory service and the legal and technical information service (except where legal or specialised advice is provided and charged to the Federation). Associate Broker Members or their representative/s shall have the right to attend Section Annual Meetings and General Meetings of the Federation but not to vote at them. They have the right to nominate as many representatives as they wish but only one shall be included in the Basic Subscription. They or their representatives do not have the right to be elected to membership of the Council, Section or other Committees. They are entitled to such discount as the Council shall from time to time determine, on services provided by the Federation (except where legal or specialised advice is provided and charged to the Federation). Full Non-Trading Members or their representative/s shall have the right to attend Section Annual Meetings and General Meetings of the Federation. Each Full Non-Trading Member has the right to one vote at such meetings. They have the right, if elected, to serve on the Council, Section or other Committees and may be co-opted or appointed to them. They shall have the right to nominate as many representatives as they wish but only one shall be included in the Basic Subscription. They are entitled to such discount as the Council shall from time to time determine on other services provided by the Federation. They are also entitled to free use of the consultancy and advisory service and the legal and technical information service (except where legal or specialised advice is provided and charged to the Federation). Associate Non-Trading Members or their representative/s shall have the right to attend Section Annual Meetings and General Meetings of the Federation but not to vote at them. They have the right to nominate as many representatives as they wish but only one shall be included in the Basic Subscription. They or their representatives do not have the right to be elected to membership of the Council, Section or other Committees. They are entitled to such discount as the Council shall from time to time determine, on services provided by the Federation (except where legal or specialised advice is provided and charged to the Federation). Only Trading Members, Full Broker Members and Full Non-Trading Members or their nominated representative/s to the Federation, with the exception of persons of the legal profession wholly or principally engaged in legal practice, shall have the right to act as arbitrators or umpires subject to retirement at age 75, if still active in the trade, or two years after retirement, whichever comes first and subject to the provision that an individual shall be allowed to continue with arbitration’s in being at the date of his retirement as an arbitrator (except as otherwise provided in the Rules of Arbitration and Appeal). Only Trading Members, Full Broker Members and Full Non-Trading Members or their nominated representative/s to the Federation who have not reached age 75, if still active in the trade, or have not been retired for two years, whichever comes first, and subject to their election to the Appeals Panel, shall have the right to serve on Appeal Boards subject to the provision that an individual shall be allowed to continue with an appeal in being at the date of his retirement from the Panel (except as otherwise provided in the Rules of Arbitration and Appeal).
ORDER FORM Please state below the items you would like to order, together with your preferred method of payment NO
DETAILS
FOSFA Member
UNIT PRICE (£)
TOTAL AMOUNT (£)
No
Yes
Method of Payment (please tick the relevant box) Bank Transfer
Cheque
Bank:
The Royal Bank of Scotland Plc 5-10 Great Tower Street London, EC3P 3HX, UK
Account No: Sort Code: Swift/BIC Code: IBAN No:
20849471 15-20-25 RBOSGB2L GB57 RBOS 152025 20849471
Credit Card
Credit Card Payments Payments over the sum of £750 will incur a £10 administation fee. Please provide the issue number of the card for Maestro, Switch, Solo and JCB. The Federation can accept the following credit cards Visa
MasterCard
Visa Electron
Maestro
JCB
Switch
Solo
Company: Address: Postcode: E-mail: Tel No:
Date:
Name on Card: Card No:
Security No:
Issue No: Amount:
Valid From:
£
Please Fax Back to: +44 207 623 1310
Expiry Date: Account:
(Last 3 digits on reverse of card)
Invoice: April 2010
PAYMENT OPTIONS Invoice Enquiries If you have any queries of a financial nature, please contact Mr Albert Myint on Tel: +44 207 283 5511
Fax: +44 207 623 1310
E-mail:
[email protected]
Conditions of Payment Payments by cheque or bankers order should be in Pounds Sterling and, if from abroad, should be drawn on a London Bank with all transfer charges for payer's account.
Bank Transfers Please state the account reference and invoice number on the bank transfer. The name and address details of the Federation's bankers are Bank:
The Royal Bank of Scotland Plc 5-10 Great Tower Street London, EC3P 3HX, UK
Account No: Sort Code: Swift/BIC Code: IBAN No:
20849471 15-20-25 RBOSGB2L GB57 RBOS 152025 20849471
Cheque Payments Please state the account reference and invoice number on the back of the cheque. Payable to:
FOSFA International
Credit Card Payments Payments over the sum of £750 will incur a £10 administation fee. Please provide the issue number of the card for Maestro, Switch, Solo and JCB. The Federation can accept the following credit cards Visa
MasterCard
Visa Electron
Maestro
JCB
Switch
Solo
Company: Address: Postcode: E-mail: Tel No:
Date:
Name on Card: Card No:
Security No:
Issue No: Amount:
Valid From:
£
Please Fax Back to: +44 207 623 1310
Expiry Date: Account:
(Last 3 digits on reverse of card)
Invoice:
April 2010
