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Here are Todays Amazing Set Oil Deals
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More Great Information on Set Oil:
On the Most Frequently Asked Questions regarding our Oil derivatives Trading Business
1. Are there certain laws you have to follow in International Global Trading?
The laws are UCP600, Incompetents 2000 and the ICC Paris. You want to make sure whatever you write and whatever documents you sign these laws are mentioned. These laws are applicable to all
trading
countries in the world including the US. Hence, If your payment instrument is a DLC then you would want to state in your document that your financial instrument is a Documentary Letter of Credit defined under UCP600 procedures. This prevents any misunderstanding of the type of payment being offered. Also, this removes any grief that could prevail without the UCP600 procedures.
2. What is a soft offer?
There is no such thing as a "SOFT OFFER". A "Quote/Offer" is a soft offer. A quote need only to be confirmed. Once confirmed, a full offer is advised. Once accepted the contract is advised.
3. Isn't the buyer with the money the most important thing in securing an oil deal?
Not understanding why the supplier needs to be secured first can get an intermediary in a lot of trouble. If an end buyer issues a DLC (Documentary Letter of Credit) to your account (the controlling intermediary) under the impression that you have a supplier (because of quotes you received from another intermediary seller) and the intermediary seller really did not have a supplier then you can and will be charged on “fraud”. The end buyer went through an expense setting up the DLC and in return was defrauded by you. It is without say, you are in a serious situation. So secure the supplier first, find the buyer second. Once you get a quote from the person who is in actual possession of the product (supplier) then seek the buyer.
4. Is there a difference in a "RFQ" (Request for Quote) from an End Buyer to a Buyer/Seller as opposed to a "RFQ" from the Buyer/Seller to the Supplier?
Yes, there is a difference between the End Buyers RFQ and the Buyer/Sellers RFQ. The RFQ from the End Buyer to the Buyer/Seller is a request for a quote to buy the product. The RFQ from the Buyer/Seller to the Supplier is a request for a quote to sell the Supplier’s product. This is why an intermediary cannot give an "ICPO" to a supplier. The intermediary is not purchasing the product. Only the person who is taking possession of the goods is purchasing the product. The intermediary only takes possession of the Title not the product. The intermediary deals in documents only not the product itself. The "Quote from the Supplier is the first most important document. Without a quote from a real supplier you have nothing to start a deal. Supplier first, buyer 2nd. Here is a small example of a RFQ transaction:... Your neighbor Joe has a sports car in his driveway for sale and you say to him ("Hey Joe how much do you want for your sports car; I think I know someone who might want it.) You have just requested for quote from Joe to sell the car, not to buy. Now you advertise that sports car and a potential buyer asks, how much for the car?. The buyer is requesting in here for a quote to buy.
5. If I have secured a supplier should I ask for a mandateship?
No. A mandate to a supplier is an “agent” who acts on behalf of a disclosed principal. A mandate is not just given to a person; (as implied so often). It has to be earned, after a strong relationship has been built from many years of dealing with a “principle supplier”. The mandate agent can only act under the instructions of their principle (supplier) who must disclose to end buyer immediately when the offer is made to an end buyer; and in closing the deal, the “mandate agent” would be paid a by the supplier is often the end result. The mandate agent gets no commission from the buyer’s side of the deal.
A mandate agent has to close many deals in order to get any reasonable commission amount from the supplier. Many intermediaries claim mandateship because they think being next to the supplier as a mandate agent is putting them in a great position. This is incorrect. An intermediary in a chain deal will make a great deal more money than a mandate agent. The best position in a deal is the “controlling buyer/seller intermediary”. The buyer/sell must know procedures really well and act in the best interest of all parities on both sides of the deal. Forget about becoming a mandate holder of a principal as it is not a feasible position to hold if you are looking to make the big money. Learn the proper procedures, rules and policies and become the legally defined Buyer/seller.
6. What is really POP?
P.O.P as often seen on the Internet is basically Proof of Product. Intermediaries cannot give POP if they have never even seen the goods; and even if one goes to the supplier's country and looks at the goods he is going to purchase, there is no guarantee that the goods he has seen, will not be sold to someone else tomorrow. A Proof of Product ('POP') is often requested by buyers or intermediaries who believe it will give them some guarantee of the existence of the product and ability of the supplier to deliver. Many POPs produced are fake. The POP offers no proof at all, because once a POP has been drafted, it is automatically out of date. The product could have been sold to another buyer and no longer exists. If an end Buyer were dealing with a supplier, anything can be suggested especially in matters of POP. But no matter what the End buyer demands, he will still need to produce the financial instrument to pay for the goods before a supplier will even consider making any effort in getting goods ready for delivery. When an end buyer asks a buyer/seller he needs a POP before
financial
instrument is in place, he is really saying : Please tell me who your disclosed principal is so I can circumvent you. POP really does not really give any proof, but it will give the opportunity for circumvention.
7. What does NCND or NCNDA mean?
NCNDA stands for (Non Circumvention, Non Disclosure Agreement.) This document is not worth the paper it is written on. If you have your name on this document and get circumvented, do you have hundreds of thousands of dollars to pay to take this through the international courts? This is a document that is very hard to enforce. Only a misinformed or unskilled intermediary/broker would send you a NCNDA.
8. Is the NCNDA any protection for an intermediary?
Not even close to protection. The NCND is totally useless piece of paper unless the product is in your own country. Internationally, this documents floating around the Internet is impossible to enforce in a court of law.
9. What does FPA, IFPA or IMFPA mean?
IMFPA stands for (Irrevocable Master Fee Protection Agreement.) The FPA (Fee Protection Agreement) and NCND are usually attached to each other. FPA / NCND is not the proper way to protect intermediary/broker’s interests. Beware if someone claims to be the Mandate, Supplier, End Buyer while at the same time requesting FPA and NCND. A real mandate never fears circumvention as he is protected by the one who extended the mandate to him. A real supplier and a real End Buyer don’t get commissions.
10. Does the MFPA (Masters Fee Protection Agreement) enforce payment of commission?
The flawed document MFPA does not protect a commission payment. There are documents under International Law that can protect your commission but the MFPA is not one of them.
For more information:
Ziad Abdelnour




































































































