Plain-language definitions of 133 terms used in raw material trade: Incoterms, payment, shipping, customs, quality documents, plastics, metals, chemicals, agriculture and energy.
London-based trade associations that provide standard contract forms, sampling and analysis rules and an arbitration system: GAFTA (Grain and Feed Trade Association) for grains, pulses, feed and spices, and FOSFA (Federation of Oils, Seeds and Fats Associations) for oilseeds, vegetable oils and animal fats. Much of the world’s grain and vegetable-oil trade is done by reference to forms such as GAFTA 100, GAFTA 64 or FOSFA 54. Because these forms settle quality determination, late shipment, default and arbitration in advance, they cut negotiation time and legal risk.
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