Requires farmer-members to register ‘Notice of Intent’ to sell and to complete the transfer of quota units (third party only)
Please note that CFO has now transformed its quota management process from a paper-based process to a digital process on the CFO Connects portal. The digital quota management process provides a standardized, secure and effective way for managing quota transactions.
The digital quota transaction platform offers a number of benefits for CFO farmer-members. It provides transparency for both buyers and sellers of quota units. It also offers sellers a potentially wider market for their quota, while simultaneously allowing buyers greater visibility on the volume and availability of quota units at any one time. Moving quota transactions onto the digital platform will also assist farmer-members in their personal record keeping by providing a digital account of all quota movements on their file.
In addition to the farmer-member benefits, this further evolution of CFO Connects will enhance regulatory surveillance, process oversight and records management. The additional transparency to the process will also ensure that the system is fair and balanced for all participants.
Importantly, CFO farmer-members wishing to sell or transfer their quota to a third party non-family member must register their ‘Notice of Intent’ to sell quota on the CFO Connects members’ portal in the new CFO quota section (under the ‘quota transfers’ tab). This registration will include the number of units available to buyers, the quota period for which it will be available, as well as any applicable contact information.
For quota periods A-147 and later, sellers and buyers must also complete the quota transfer process on the digital platform (no more paper forms). Farmer- members should note that before completing the final transaction, the system will check to ensure that the ‘Notice of Intent’ has been posted.
Instructions on how to both create a ‘Notice of Intent’ to sell quota and how to complete the process on the portal are currently posted in the “Support Tab” that can be accessed by logging into CFO Connects.
CLICK HERE to learn more about CFO's 'Fair and Balanced' Quota Transfer Process
For more information, please contact Ray Hinton, Vice-President, Finance at email@example.com or 289-288-4204.