Grain and Feed Trade Association

The Grain and Feed Trade Association ( GAFTA ) is an international association of grain and feed dealers. By his own account about 1000 members are represented in 90 countries. The GAFTA goes back to 1878, founded in London Corn Trade Association ( LCTA ), which merged in 1971 with the London Cattle Food Association ( LCFA ) and the GAFTA formed after she had split off in 1906 by the LCTA. The GAFTA operates its activities from four offices in London (Headquarters), Beijing, Geneva and Kiev.

Its goal is the promotion of international trade and the protection of members' interests. The activities of the GAFTA include the definition of commercial requirements and arbitration in case of disagreement.

Contracts GAFTA

The GAFTA publishes more than 80 different contracts. These are grouped by type of goods, destination and delivery. It is particularly distinguished between CIF and FOB contracts. A further distinction according to whether the seller must deliver the goods of only as they emerge ( Tel - Quel clause ), or if the seller guarantees the condition of the goods on arrival ( rye terms).

The contracts of GAFTA are mainly used when agricultural commodities such as grain and feed is traded worldwide. While the German inland and near- border traffic in particular the unit conditions in the German grain trade and final certificate conditions play a role, the GAFTA contracts are tailored to trading in overseas business.

The contract works are of English contract practice accordingly extremely detailed and set the following points of a commercial transaction

  • Quality, conditions, guarantees and Gewährleistungspfichten
  • Shipping documents and delivery obligations
  • Risk of Loss
  • Collective shipments
  • Supply chains
  • Requirements on the ship for the transport
  • Export and Import Permits
  • Insolvency of a contractor
  • Terms of payment
  • Problems and extraordinary circumstances
  • Replacement of demurrage
  • Non-compliance and compensation
  • In addition to rules for weighing, sampling, analysis and insurance.

The contracts invariably contain a choice of law in favor of English law and an arbitration clause in favor of an English tribunal. Therefore, the interpretation of contracts governed by English law. At the same time closes the GAFTA other legal norms, such as the CISG according to the definitions of the UNCITRAL explicitly.

Visibility

According to the Financial Express, 80 percent of world trade in cereals and a substantial portion of the feed to be traded with GAFTA conditions. The efforts of GAFTA are published and discussed in organs of the food production industry.

Organs

The interests of the association are represented by the 'Council ', a 22köpfigen, elected by the members of committee, which is chaired by the President (see below).

Official representatives are the President (President), Vice President ( Deputy President ), Vice President ( VP ) and the ' Immediate Past President' ( direct predecessor of the incumbent president );

Several committees deal with the core issues of GAFTA work

  • Committee for International Contracts (International Contracts Policy Committee )
  • Committee on Contracts (Contracts Committee)
  • Committee for Arbitration and Mediation ( Arbitration Committee)
  • Committee of the supervisory leaders ( Superintendents Committee)
  • Committee on Traffic in China ( China Trade Committee)
  • Committee for British Trade Office ( UK Trade Section Committee)

Associations

The GAFTA is in a working group of the International Organization for Standardization ( ISO) represented as A- liaison, that is, the contributions are seen as effective contributions to the work of ISO.

See also

  • Federation of Oils, Seeds and Fats Associations ( FOSFA )
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