FTNX AND THE END BUYER
The End Buyers is defined as the ‘buyer’ taking possession of goods ordered from the Seller FTNX. Whether the actual Buyer and end user is apparent or not is irrelevant. If an End Buyer buys goods from FTNX to ‘flip the contract’ on their own end as i.e: trader, importer, wholesaler, trading house, merchant bank, etc.etc. then FTNX should be made aware of such an aspect, as the BOL will be marked accordingly. In this aspect the ‘Buyer’ would still be treated as an ‘End Buyer.’ If a disclosed agent of the End Buyer is apparent, the same aspect applies in that the agent will be treated ostensibly as an ‘End Buyer.’
In essence the person putting up the funds to pay for goods is treated as the ‘End Buyer.’ This aspect does not allow for ‘ad hoc’ ill-informed intermediaries to approach FTNX as information about ‘potential’ end buyers are easily sourced online and is useless to us. We need much more ‘personally applied’ efforts to apply, than just passing useless information to us.
The qualified End Buyer will need to follow the below routine intently to successfully conclude a deal with FTNX where strict aspect of security and formidable procedures actually protects the End Buyer as it does FTNX.
- Offer is sought
- Offer is accepted
- Contract is advised
- Contract is returned as signed
- DLC to pay for goods advised
- DLC is accepted
- P.G for LDD is advised or in place
- Loading is commenced. Loading is completed
- Documents are presented to the bank of the End Buyer
- Bank of End Buyer accept the documents only if no ambiguous entires are apparent (At sight)
- Seller collect on revolving DLC Payment.
- Next ship is loaded; same process applies.
- Any defective goods arriving POD as proven in accordance with the contract – the Seller compensates the End Buyer.
The contract is about the product being purchased.The rules used dictate what must be done any whom. The End Buyer cannot contact our Supplier nor ask us for evidence of goods upfront. The End Buyer cannot circumvent, proper contract formation rules nor universally applicable UCP and Incoterms rules and they cannot demand conditions that are illegal, precarious in design or are incorrecly asserted. An End Buyer cannot go to port of loading (POL) to inspect goods being loaded, to do so could mean rejection of goods will not be accepted once goods arrive POD. This is why ‘Independent’ experts must certify such goods. No inspection certification is available before actual goods ordered because such certification can only be issued when the goods ‘that the End Buyer’ has ordered is loaded on board ship port of loading. A certificate for goods as issued to another buyer MUST never be used. A SLC must never be used to pay for goods. If an End Buyer wants to deal with a Supplier directly it should have sourced such products and not seek to gain such information from those who have spent months or years to secure Supply. Phones calls cannot be taken by FTNX until the contract is signed because any matter to do with a purchase transaction MUST be expressed in writing via email. The well known adverse situation “he, said , I said” aspect cannot interfere with the deal once everything is in writing. An End Buyer must have a good credit worthy with their bank before a DLC would issued, accordingly End Buyers who are unable to open a DLC should not be contacting FTNX for an offer. The End Buyer is responsible to find out about import matters, permits, and tariffs at port of unloading etc.etc..In return for observing and avoiding the above adverse aspects, (and others) the End Buyer receives the best price, and enters into a highly protected deal loaded with security features where formidable procedures will ensure that the End Buyer obtains the goods ‘as ordered’ or FTNX will not allow collection on payment to proceed. We want return business, thus our clients are in very safe hands, much more so, even if the End Buyer conducts business with their own sourced supplier. The law books are full basic mistakes made by End Buyers, dealing with suppliers, even when lawyers are used. ‘Small mistakes in this business means big money.’ FTNX must be allowed to apply its strict, correct and legally defined process before safe deliveries can eventuate. FTNX sources goods only from suppliers, which is also a guaranteed aspect. We sign contract with the Supplier to buy goods. We sell such goods as Sellers in where at least 92% of our buy prices is secured by the End Buyer and depending on our operational expenses, this factor averages out at 96.5% for certain products. Our contract with the suppliers is far stricter than the contract we serve our End Buyers. In this light the only thing that the End Buyer needs to be reassured about is “will they get the goods being purchased as ordered.” The answer is ‘Yes.’ We also guarantee as much. We conduct deals amicably, and we are required to assist the End Buyer even after the deal has closed. If the End Buyer needs more information to do with shipping, insurances, delays etc.etc. the Seller must assist to the End Buyer to obtain such information if asked to do so. Incoterms rules in part already states as much, even though it was not stated as a condition of the contract.
Another good reason, amongst many others to use FTNX has just been advised. Purchase goods from FTNX and learn what it means to trade safely serviced by a leading global expert.