WARNINGS:
SPECIAL NOTES & WARNINGS
Due to the actual buyer/broker situation, we are informing all partners and clients that we will be enforcing a new position. In that sense, from now on, all cement, steel, urea or any other commodities inquiries sent to us via LOI or ICPO will be treated real and genuine, but if we received an LOI or ICPO that does not correspond with the real capacity of the buyer; we will report non-performing buyers to the I.C.C. and INTERPOL.
After supplier issue the FCO, we will expect a formal written response from the buyer. If after the expiration of the validity of the FCO we do not receive any response from the requesting party (buyer) we will report the buyer to the International Chamber of Commerce of the situation. If it’s reported that the said company or buyer is repeatedly acting in that manner, they will be reported to INTERPOL for abusing NCND, LOI and ICPO. It is important to inform all potential customers, who are going to work with sellers who are member of the ICC, that they will do everything in their power to keep the commodity trading sector free of fake inquiries and NON-Performing buyers.
Starting now we will take all measures allowed in the international codes to remove the intruders from the market and report false documentation. Please be aware that people issuing fake LOI or ICPO are subject to criminal action again themselves.
Due to the latest measures taken in the financial sector, the commodities will be also more controlled after the meeting of the G-20 (US Federal Reserve, European Central Bank, INTERPOL and FBI). More instruments to denounce illegal, abusive or anti-ethics actions will be available to genuine commodity traders over the world.
LOI or ICPO must be updated (not older than 3 days) and properly issued, granted seller's bank to take soft probe. Shipping destination port (non-sanctioned) is required;
BCL (Bank comfort Letter) must be updated (not older than 3 days) and issued on original bank letterhead, signed/sealed by two bank officers, indicating the order value at buyer's account is available, granted seller's bank to take soft probe;
Enquiries without LOI & BCL (including soft probe) will be ignored;
Buyer's bank must be one of the 25 World Prime Banks;
SBLC / FFDLC pricing stands for the entire contract value;
DLC pricing stands for monthly shipments value;
LC revolving per shipment is acceptable;
Non-transferable payment instrument will have extra charged of USD10.00/MT;
POP will be provided from seller's bank only after buyer's bank submits the (Non-operative) L/C ;
No visits at refineries / silos / producers will be approved;
Visit to port of loading can be arranged at buyer’s expense;
Unless otherwise published – products are available at any quantity;
FOB is not an acceptable method of payment;
MOQ (Minimum Order Quantity) 12,500 Mt on CIF basis only.
DISCLAIMER:
In ordinance of our company policy, No official documents can be accepted from intermediaries! Only PRINCIPALS and Direct MANDATES should respond with full contact coordinates, and full details of their offer.
In particular Latin America, USA, EU, Asia Citizen to prior lodging requires from local revenue & tax department to further prove of official authorization of Mandates is compulsory before issued IMFPA to take place. If the enquired party unable to follow the request to provide visibility of duly issued LOI/ICPO containing full banking coordinates and explicit authorization for soft probe by sellers bank, along with RWA/BCL. Transactions will be subject to rejection without these documents.
WARNING:
The I.C.C. and the local GOVTs Supervision Body in Brazil, Argentina, USA, Ukraine, Asia Pacific, EU progressively pursuit 'Penalize and Blacklist' "Non-Performing Buyer" who fail to complete transaction or submit fake documents in deceitful purpose. Besides Agents, Traders, Brokers who operate insincerely will be reported and blacklisted as well.