The Council of the The Federation of Oils, Seeds and Fats Associations (FOSFA) approved the application of the law firm LeGran.TT for membership in this organization.
“Joining the FOSFA opens a new stage in our company’s development. Due to the decision of the federation, we have more opportunities to help our exporters, and that, primarily, agricultural enterprises, to resolve disputes concerning international contracts. Arbitration allows the business to save time and money since debates and other procedures are not required”, – Tatyana Titarenko, the CEO of LeGran.TT said.
Participation in FOSFA provides the company’s clients with the following advantages:
- Access to all international contracts of FOSFA
- Access to the rules of arbitration, as well as the lists of arbitrators
- Access to the FOSFA arbitration decisions database
Parties also have the opportunity to select an arbitrator or a panel of arbitrators. Each of them runs a very strict selection process. So the disputes are arbitrated by highly trained specialists who are well aware of the specifics and problems of international trade. In FOSFA claimants may receive a decision within 2-4 months from the date of filing a lawsuit.
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 1,103 members in 89 countries. These members include producers and processors, shippers and dealers, traders, brokers and agents, superintendents, analysts, shipowners, ship brokers, tank storage companies, arbitrators, consultants, lawyers, insurers and others, providing services to traders. Internationally, 85% of the global trade in oils and fats is traded under FOSFA contracts.