DOING BUSINESS WITH FTNX 2021
December 5, 2020 to December 5, 2021
International Commerce : Suppliers (Exporters) and End Buyers ( Importers)
FTNX trading application while Sars Cov II Pandemic is apparent.
SUPPLIERS / END BUYERS WORLD WIDE
A supplier is defined by FTNX as “the entity in possession of export ready goods” who is able to bear the expenses associated with getting goods to port of loading at FOB or FCA incoterms 2010 / 20. The Buyer for goods on offer is FTNX. The supplier provides a private and confidential offer to FTNX. If the offer is not acceptable, negotiations take place to resolve matters in contention. Once the offer is accepted by FTNX the goods are placed on our file for the 2021 trading year. The supplier will not hear from us until we are ready to make the purchase. All offers must have a minimum validity for 4 months. Validity of 6 months or longer is preferred. By having anticipated stock on hand, FTNX will be able to service many more enquiries from our long standing clients. Unless stated differently on the offer, a legally binding aspect is apparent once contract is signed with FTNX.
NOTICE OF CONTRACT DELINQUENCY
No CIF, CFR or CIP delivery modes available for contracts signed with Chinese importers. Chinese importers may purchase goods from FTNX at FAS, FOB or FCA incoterms only until further notice. When FTNX orders goods from Chinese suppliers; such suppliers must guarantee quality of goods offered using non Chinese based independent Inspectors. Agents /Agency representing Japanese suppliers may not apply. Japanese suppliers /importers must apply to export, import goods directly with FTNX.
WE WILL CONSIDER
- Any single shipment of a wanted product exceeding 2000 MT FCL at FCA ICC Incoterms 2010/20
- Especially revolving shipment /contract of a wanted product at FCA FCL 500 MT per month or more for 6, 12 or more months
- Any large single shipment (VLBC) NBC at FOB ICC incoterms 2020/2010 25,000 MT or more
- Especially revolving NBC shipments monthly at 25,000 MT or more up to 140,000 MT shipments (ULCC shipment sizes not considered) at FOB ICC Incoterms
Note: If the supplier is able to accomodate CIF, CFR or CIP incoterms delivery modes, please let us know on the offer.For purpose of simplicity , FOB , FCA or even FAS delivery modes will suffice for now.
THE TRADING PROCEDURES AND ROUTINE AS FOLLOW ONCE FTNX CONSIDERS THE PURCHASE FORMALLY
- PAYMENT INSTRUMENT LODGED
- PERFORMANCE GUARANTEE (P.G)
- COLLECTION ON PAYMENT
- REJECTIONS REMEDY
- NEXT DELIVERY
Note: Supplier enacting with FTNX or end buyer purchasing goods from FTNX same process /advice as relevant applies.
TYPE OF WANTED GOODS BEING CONSIDERED ( or are able to be sourced) FOR PURCHASE OR SALE IN 2021 BY FTNX
- COPPER CATHODES
- COPPER INGOTS
- ZINC INGOTS
- ALUMINIUM INGOTS
- ALUMINIUM SHEETS
- ULS D2
- PORTLAND CEMENT
- LS THERMAL COAL
- SOYBEAN ANIMAL FEED
- IRON ORE LUMPS /FINES
- SWEET CRUDE OIL
- WHEAT GRAIN
- WHEAT FLOUR
- RICE: BROKEN
- SUSTAINABLE PLYWOOD
- BENZYL CHLORIDE (PHARMA GRADE) and other chemicals sought
Note: Major important products secured or which we will need to secure quickly are listed on the FTNX Index .
RULES AND LAWS
- All disputes settled as per LCIA procedures; supplier/ sellers country
- Financial instrument at sight payment: IDLC as supported under UCP 600 includes ‘eUCP’
- Financial instrument: SLC as supported under ISBP 2013.
- Delivery rules as supported via ICC Incoterms 2020 or 2010 at discretion
- Sales of Goods Act 2001 (U.K)
- U.N Convention on Human Rights and Slave Labour
- Hague Visby Rules
- Contract formation rules and foreign governance therein (U.K)
- FTNX in house applications as relevant: CERC, LDD, ICA, and IPG.
- TRIBE Rules of Association for FTNX Associates in other countries
- FTNX only accepts Shipowners endorsed BOL as required under international UCP 600 banking rules
- All document via email are deemed as originals once meta tags have been added after transmission
- All business by email permitted except for actual contract which must also be served as a hardcopy.
GENERAL NOTES ;
- Intermediaries may not apply to offer goods to FTNX
- Countries holding sanctions with Australia ,UK, New Zealand, Canada, India or USA may not apply business with FTNX
- Agents /Brokers acting on behalf of disclosed Japanese suppliers and end buyer may not apply.Japanese principals must enact with FTNX directly
- Chinese suppliers may apply directly: Chinese based brokers /agents may not apply
- Government export agencies from first world countries may not apply.
- Economically depressed countries /Governments may apply
- ‘Aramco’ or ‘Swiss’ procedure may not apply
- No BCL or financial forms /pre advice if sought from FTNX will not served.
- Disclosure of FTNX customers as a condition of doing business not served.
- India, Mexico and Africa has ‘preferential’ treatment from FTNX in 2021.
- 45/90 days deferred payments may also be available to preferential customers of FTNX ( End buyers)
- The price of goods from the supplier unless stated differently on the final negotiated offer /contract may need to include considerations for P.G. Transfer fees, Export Tariffs, Insurance, Inspection and Delivery Expenses.
CER: CARBON EMISSIONS REBATE (AND TANGIBLE CER PROMISSORY NOTE )
A cash rebate is paid outside the bounds of the contract, by FTNX to any supplier who is demonstrating efforts made to reduce carbon emissions including;
- Where CIF, CIP or CFR delivery mode is secured which confirms that a carrier is using LS Diesel fuel rather than dirty fuel oil.The end buyer is paid the CER
- Where a power generating company has changed (and has purchased from FTNX) low Sulphur and Ash type of thermal coal to generate electricity.
- Where supply of timber comes from sustainable forests farming and practices
Current CER rate: 1 Jan to December 2021 for all business completed with FTNX is: US$ 1.77 per MT Per shipment.