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1st Review: Mistakes corrected  28 Sept 2022



By learning the FTNX Doctrine of Trade and practising its basis intently, the PCT will obtain knowledge and experience that could also be applied in all kinds of related global business applications standing on similar ground applied in the exportation and importation of high value shipments of raw material. When the PCT understands matters of making an offer, contract, banking, delivery, formulation, financial instruments  and performing the task of refining such matters for use in other business applications is easily applied, more so if added personal studies (research online) adds to  the the base knowledge already acquired as it relates to the business being attempted.

Selling a large hotel complex worth 10 million dollars  located in the U.K to a willing buyer in let us say Saudi Arabia, is the kind of  ‘related’ business that a PCT could easily learn and apply using the procedures found in the doctrine. Setting up a Space agency to accept cargo at FOB on behalf of customer to send into space may seem far fetched - but an informed astute  PCT could also create or set up their own space agency where over a longer period of time, such an agency becomes recognised as interstellar space activities increase. Creating a  greenfield or brownfield  investment project (taking years to do so) from one country  then selling such to potential buyers in another  country, is a feat that an informed PCT could act on; by following aspects of the doctrine. The biggest business applications on the planet is heavily  related to agency; in where the agency related to export and finance is ostensibly the biggest agency application of them all. The current plethora of mail order business  on the planet is the easiest trading application to attempt  by anyone ( also known as drop shipping or  consignment sales ) which does not need aspects of study or  doctrine  to apply. Learning to apply sophisticated complex billion dollar business applications safely,  legally  and correctly  is what the doctrine is about. An informed PCT could apply the business of agency by following aspects of doctrine. The business of agency is a heavily controlled world wide as rules of local agencies  within each country via consumer laws may need to also be followed, until products are loaded.For instance, agents or brokers who deal in financial instruments, shares, MTN’s  and gold etc.etc; may also need to hold a securities license as a condition of tenure.  The basis of acting as an agent  however in nearly  a uniform practice. 

When trading commodities  a PCT may; 

  • (a) trade as a seller of buyer acting on  behalf of undisclosed principal; which means the PCT does not legally need to disclose who the end buyer or supplier is to conclude on a lucrative  commodity deal.  
  • (b) trade as an agent acting on behalf of a disclosed principal; which means that the agent is acting for a named  disclosed principal up front, when testing suppliers or end buyers
  • And variations of above as applied in  particular countries

When ‘working’ in the position of (b), the agent or broker must heed the advice of its principal, and cannot delegate its work or obligations to another.The agent must disclose who his  principal it is when testing customers. A broker may often work in an office  or sometimes may need to leave the office to attend and service a client  i.e; a cattle broker, insurance broker etc.etc. On the other hand, and agent representing a i.e: USA  manufacturer and principal, may need to travel overseas often and  seal a contract of supply. The principal pays for all ad diem expenses and the agent may also be paid  a  modest  monthly tenure fee or salary. A payment of  commission on every deal it seals will also be forthcoming. A Informed PCT could apply to trade as an agent for a disclosed principal in where matters of logistics are learned along the way  with ‘feet  on the ground.’ The agent  may finalise a supply agreement or assurance  (but cannot sign the sales contract), produce and create documents, operate a bank account for the manufacturer, secure payments, sight documents, interact  with customs, supervise  loading and unloading, send samples out, answer calls, etc.etc. In essence the services of an agent is both a highly trusted and an interactive position. A manufacturer  will not allow it to be represented by an ill informed person  lacking experience as the reputation of the supplier ( or end buyer ) is at stake. A PCT who has studied the doctrine and has made effort to close a deal  or has come close to closing a deal  over a period or a few  years ( but has yet to close a deal), has both  the knowledge and ‘experience’ to take up the role of agent  acting on behalf of a disclosed principal. An agent must be able to obtain  a passport and  not have a criminal record is the first  step  that must be considered before apply for a position as Agent. Personal  presentation  and good English  language and writing skills are essential. Knowing a second language  especially as it relates  to a leading import /export country is also a big advantage. 

A document similar to  simple  ITB format  and resume or profile letter is sent out to potential  suppliers by email, as this is the main aspect being sought by the agent– to represent the manufacturer. The letter  provides  details about acquired knowledge  and serves any related experience the agent has in dealing  with the product the supplier, manufacturer  or producer  is selling. New exporters/suppliers  emerging from smaller countries or states with a country  are always looking for  informed agents to assist them is matters of exporting procedures, advice and securing added sales. To attempt to sell  for instance  wines;  is going to be a difficult as there are too many such agents attempting to do the same at a time when wines are plenty and cheap. To attempt sell frozen roasting chickens, rice, bull hides, finished metals etc.etc.; offers a better prospect of potential sales. The agent first find out what the manufacturer is selling  and studies about such products intently online once the letter  is sent via PDF and inline  email text as the amicable, friendly ( so as to let your guard down) manufacturer when contacting you (if ?)  may ask you what you know about such products first, instead of testing your knowledge about procedure and the likes. The principal  may even invite you for a face to face meeting if the  call returns a positive aspect. Those who have a FTNX endorsed  FITS Certificate, should also attach a copy  with the letter.Those who have been mentored by FTNX should state as much in denoting experience, by disclosing their SPCT or USCT status, as it may add to help the agent to become tenured.  After the ’meeting over drinks’ is concluded,  if the principal is impressed with the a PCT  an agency agreement or MOU will be produced for the agent to consider and follow thereafter. Once the MOU or agency agreement is accepted, the agent commences it tenure as  stipulated after in-house policies and routine are  advised and practised for a short time first.

In Summary 

Agency position are well suited for young to  middle  age experience informed PCT’s as the nature of business is hectic if a large manufacturer takes on an  agent. While the agent must follow the advice of its principal, the FTNX informed agent is obligated to advise its principal when a precarious  trading  aspect has been encountered. The final word of the principal is the ruling aspect. To act as an agent for a large end buyer is  more  an employment based position as these kind of agents are often based in a warehouses accepting imported goods; although roving agents acting for a disclosed  principal buyer  do exist, such ‘jobs’ are harder to secure. A PCT personally buying and selling commodities acts for undisclosed principal ( the supplier or end buyer)  in where above agency applications  do not apply because such a PCT is also acting as a principal in its own name.