The earliest surviving charter, dated 10th May 1499, granted under the Great Seal of King James IV, gave Fordyce the status of Burgh of Barony under Bishop Elphinstone of Aberdeen. Fordyce's status as the centre of a large parish was enhanced by the comparatively peaceful times. In contrast to the regular shape and layout of Northeast Scotland's 'improved' villages, the ancient settlement of Fordyce has grown naturally as the religious centre (or kirktown) of a large parish. As a focal point in a farming community, its status as a Burgh of Barony entitled it to hold markets and fairs. The earliest was known as Summariffe Fair, later called Hallow Fair. It took place on the common land immediately east of the village, bisected today by the Portsoy road.
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