Oil Broker Agreement
7. By VPA, IFPA or IMFPA. IMFPA stands for (Irrevocable Master Fee Protection Agreement.) The APV (Fee Protection Agreement) and the NCND are generally linked. The FPA/NCND is not the right way to protect the interests of intermediaries/brokers. Be careful when someone claims to be the mandate, the supplier, the final buyer, while claiming the FPA and the NCND. A real mandate never fears circumvention, for it is protected by the one who renewed its mandate. Does the MFPA (Masters Fee Protection Agreement) impose commission payments? The defective MFPA document does not protect the payment of a commission. There are documents of international law that can protect your commission, but the MFPA is not one of them. 1.
Broker Chains: Do not participate in broker chains. The key is access to Prinzipale. I do NOT work on offers in which I do not have access to BOTH SELLER and Buyer. The worst part is people who do nothing but relay emails without even reading them. They will never take you to the finish line, because they are just ignorant messengers who are not good for nothing. No transparency, no agreement. This is not the CIA for business. Work with a small group of trusted colleagues instead of chasing all agreements. 6. Through NCDs or NDAs.
NCNDA means (Non Circumvention, Non Disclosure Agreement.) This document is not worth the paper on which it is written. If you have your name on that document and you are bypassed, do you have hundreds of thousands of dollars to pay to get that through the international courts? It is a very difficult document to impose. Only an ill-informed or unqualified intermediary/broker would send you an NCNDA. Is NCNDA a protection for an intermediary? Not even close to protection. Once again, the NCND is a totally useless piece of paper, unless the product is in your own country. At the international level, these documents, which circulate on the Internet, are not enforceable in the courts. 16. Track Record: Forget home in the Bahamas and generational wealth. If you/your customer has not yet entered into an oil deal; Don`t try to do it on our watch. Nothing really personal; Just business. We do not have it and we will never deal with recruits 11.
On the DLC. A documentary letter (DLC) is a kind of financial instrument by which the goods ordered are paid for. The terms and conditions apply to the DLC. The final buyer issues a DLC to the supplier and, if all conditions are met, the supplier can receive the recovery of the funds. By default, a DLC becomes an irrevocable credit. The best form of DLC emission is confirmed and irrevocable (CIDC). The CIDLC is guaranteed by the issuing bank and not by the buyer. 9 The handling of the goods is carried out, Q-Q, documents and payment are arranged simultaneously within 24 hours.