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| WARNINGS:
SPECIAL NOTES & WARNINGS
Due to the actual buyer/broker situation, we are informing all parties and clients that we will be enforcing a new position. In that sense, from now on, all Cement, Steel, Urea, Sugar, Fuel 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/SCO, we will expect a formal written response from the buyer. If after the expiration of the validity of the FCO/SCO 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 appeared that the said company or buyer rep 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 against themselves. Due to the latest measures taken in the financial sector, the commodities will also be more controlled after the meeting of the G-20 Summit (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 5 business 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 5 days) and issued on original bank official letterhead, signed/sealed by two bank officers, indicating the order value in buyer's account is available, granted seller's bank to take soft probe;
Inquiries without LOI & BCL (including soft probe) will be ignored;
Buyer's bank must be one of the 50 World Prime Banks;
SBLC / FFDLC pricing stands for the entire contract value;
DLC pricing stands for monthly shipments value;
L/C revolving per shipment is acceptable;
Non-transferable payment instrument will have extra charged of USD $5.00/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;
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. Any MOQ below 100,000 MT considered a SPOT deal and will be quoted a SPOT price. DISCLAIMER:
In ordinance of our company policy, No official documents can be accepted from intermediaries! Only PRINCIPALS, Direct MANDATES or Buyer's reps should respond with full contact coordinates, and full details of their offer. 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 Buyers" 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.
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