CFO has 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 new 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.
Learn More about CFO's Fair and Balanced Quota Transfer Process:
What is the 'Fair and Balanced' Quota Transfer Process?
The CFO 'Fair and Balanced' quota transfer process is the new digital mechanism which provides a standardized, secure and effective way for managing quota transactions.
What are the advantages to farmer-members of the new digital process for transferring quota?
The new digital transfer process will provide greater transparency to both buyers and sellers of quota units.
It will provide farmer-members with a historical record of all quota movements on their file.
It will offer sellers a wider marketplace for their quota while allowing buyers greater visibility on the volume of quota available at any one time.
Are farmers required to utilize the digital transfer system to transfer quota?
By regulation farmer-members are now required to post their ‘transfer notice' to transfer quota to third parties. (PLEASE NOTE this is not required for transfers to children or grand children.)
Farmer-members wishing to sell quota to a third party must post their ‘transfer notice’ in advance of the trading period (please refer to the PSA Calendar for all deadline dates).
Will farmer-members still be able to work with feed (or other) market representatives to help transfer or obtain quota units?
Farmer-members can utilize any resources they wish to identify available quota or market their units provided that transfer notice and the transaction are properly registered and recorded through the digital transfer system on CFO Connects.
That noted, the 'Fair and Balanced' digital quota transfer process will allow farmer-members to bypass the traditional middlepersons to obtain or sell quota units directly.
What steps do farmer-members need to go through to transfer quota?
Farmer-members are required to post their intent to transfer quota before conducting the transaction.
Once having registered their intent to transfer quota, farmer-members will then have to complete the transfer itself through the CFO Connects portal. This will require uploading of document electronically to the site. CFO has created a training tool which will lead farmers through the required process.
for more information.
Will the transfer fee still be the same?
Yes. All the transfer fees and other requirements will remain the same and, if applicable, sellers will be invoiced for the transfer fees. (Please provide your quota holder number and the quota period with your payment.)
Apart from regulating the requirement to transfer quota through the CFO Connects portal (Quota Transfer tab) have other rules and regulations regarding the Quota Policy changed?
None of the regulations on Quota Policy have been changed as a result of the move to the new digital system.
to review the policies and regulations.
Who can access the online 'Fair and Balanced' quota transfer system?
The system is accessible by CFO quota holders only. However, non-current quota holders wishing to purchase quota can register with the Board and their contact information will be made available to those quota holder looking to transfer their units.
Do farmer-members need to publish their 'transfer notice' to sell their quota units if they have already sold?
Yes, if farmer-members have already found a farmer interested in purchasing quota units they must still register the 'transfer notice' to transfer. When registering the 'transfer notice', quota holders will also be able to indicate whether the units have been sold or are still available.
PLEASE NOTE: The digital process of actually transferring the quota cannot be completed unless the transfer notice has been filed first.
Can farmer-members post the transfer notice anonymously?
The purpose of the CFO Marketplace is to increase transparency. Quota holders will be required to provide their official quota holder email address (phone number contact is optional). Names of those posting a ‘transfer notice’ will not be required.
Is the transaction secure?
The 'Fair and Balanced' quota transfer process operates within the CFO Connects portal and is very secure.
Will CFO be publishing quota prices?
CFO is not involved in the business transactions between buyers and sellers or in setting quota prices. CFO will not be posting or tracking quota prices.
Can farmer-members still send in their paper documents if they don't operate digitally?
CFO operates in a digital environment. As such all CFO farmer-members are required to use the CFO Connects portal to conduct quota transfer business transactions.
Those farmer-members who have been approved as a non-digital farmer-members should contact CFO to utilize alternative means to transferring or obtaining their quota.
Need more information about the 'Fair and Balanced' Quota Transfer process?