Federation of Oils, Seeds and Fats Associations

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.
History.
FOSFA was formed from four other previous organisations in 1968.
It used to be based at 20 St Dunstan's Hill, London EC3R 8NQ.
Function.
85% of worldwide trade in oils and fats is under FOSFA contracts. 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. 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.