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PROFESSIONAL COMMODITY TRADER (PCT)

“Big Business for Big Businesses World wide”

 International Trade Expert and Best Selling Author  Davide Giovanni Papa

TRADING  www.ftnx.net  EDUCATION   www.smice.net  www.ftnexporting.com   EMAIL: ftn_smice@bigpond.com 





ADVICE: TO  SUPPLIERS WORLD WIDE  DOING BUSINESS WITH FTNX

With this pandemic (Covid 19) running its course, FTNX will becomes very busy by years end. Only suppliers abiding by our proper,fair and reasonable requests will be serviced. A ‘Supplier’  is the person who owns / has possession of  the  goods  being offered to FTNX. Intermediaries, socials site, B2BS, platforms and other ill advised or ill informed entities may not offer goods to FTNX. The entity FTN Exporting  is the ‘buyer’  regardless to who we sell such goods to later, the  supplier  deals only with FTNX and the protective measures offered by us.  We cannot often meet the demands made by suppliers and some  of  the ‘strange’ procedures offered by such, from time to time; accordingly our stricter often much more formal and formidable  purchase procedures applies at all time. We don’t take short cuts.  The supplier  is dealing with a leading global PCT and Trade expert. We wrote the PCT trading rules on how such business ought to be conducted in where security matters are upheld at all times.  A supplier must make an offer to FTNX first. The offer of  supply must be valid for at least 4 months or more  (8 months preferred) as revolving transaction and large contract take time  to conclude–if purchase is successful. We are  interested in  revolving NBC or FCL deliveries  monthly, for ‘years.’  Once an offer is made by PDF, the supplier will not  hear from us until we are ready to make the purchase, by returning the offer as signed ( or rejecting the offer, with a counter offer), along with any other documents sought at this time by the supplier. Any requests or demands  made prior to this basic  aspect being apparent will be rejected. First delivery is 30 days after contract is signed. FTNX lodges all financial instruments for all purchases, within 3 banking days after contract is signed. If goods offered carry added conditions, we will need to look at such conditions before proceeding with any purchase.  In essence  the only work we expect from the supplier is the production of a long term offer carrying full specification and a good discounted price basis as large revolving contracts of sale are NOT easily secured and has nothing to do with SPOT prices. FTNX only conduct business on FUTURE sales of very large revolving  quantities of supply, or large VLBC single shipments.  If a supplier  cannot accommodate this one aspect of pricing us with an offer, no business can eventuate, as it take a great deal of resources time and effort to purchase such large contract of supply at FOB or FCA Incoterms 2020 . Suppliers who also have the ability to service a CFR or CIF or CIP delivery should indicate as much on the offer, initially assume price basis is at FOB @NBC or FCA of FCL.All business treaded strictly at confidential at all times. Anyone representing FTNX as our Licensed Broker(FLB) will have a letter of authority, otherwise  assume all offer are to be  sent to FTNX directly  


 Procedures: Supplier to FTNX : ( eUCP allowed) 

  1. Supplier make a full offer  to FTNX  in an PDF for us to consider buying.
  2. Supplier will not hear from FTNX until we are ready to make the purchase.
  3. The offer is signed ( or counter offer is accepted ) by the buyer FTNX ( Legally binding aspect exists from this time onwards)
  4. The offer is returned by PDF , in where the supplier  issues its contract to FTNX ( or our contract model may be sought)
  5. The contract is signed and returned by FTNX,  one copy as a PDF, one hardcopy  by security courier (Trackable courier details proves contract has been posted) 
  6. Within 3 banking days ( of PDF contract) financial instrument is advised by FTNX to the supplier .
  7. Once DLC or contract (as stated on the offer)  is accepted, first delivery is 30 days thereafter (-/+5 Days) 
  8. Supplier lodged a Performance  Guarantee (P.G.)  as stated on contract.
  9. First delivery take place at FOB or FCA is assumed. (If freight is sought/able to be served) destination port will be advised.
  10. Documents as per contract are produced ‘cleanly’  to bank of supplier  for advising to our bank for at sight collection as per current ICC URC rules.
  11. Payment is collected. Goods at destination port . Rejection /compensation clause up to 90 days served. 
  12. Next shipment delivered 30 days from the first in sequence until contracting  term is completed .
  13. If trial shipment is sought, first delivery takes place, but next delivery is 60 days,  after the first, monthly thereafter.   

 

These are the proper safest delivery terms that FTNX will only abide by. If a supplier  cannot meet such basic principles of good safe  business practices, no business with FTN exporting can be entertained. Suppliers pertaining to the 53 countries known as the "British Commonwealth" has added efforts made by FTNX and FLB to conclude on a sale. All other  countries; merit of supply dictates our efforts to consider such purchases. Delivery of supply to river port not considered . Transhipped goods / barges to mother ship also not considered. A P.G of under 2.0% is often sought. A P.G is only collected if supplier fails to enact upon ‘any delivery on time.’ All payments made by FTNX  is by UCP ruling DLC at sight of clean documents as advised form a top 100 ranking  banking of the world, otherwise DLC will also carry confirmation. Future crops / new producers/exporters  are welcome,  and will be guided by FTNX. It all starts will a clear offer being made to FTNX.

 


ADVICE: TO  END BUYER DOING BUSINESS WITH FTNX

FTNX will be very busy for ‘years’  once normality of business returns by mid 2020 (as Covid 19 Pandemic subsides.)  The following guideline will be strictly applied to end buyers. Social sites and other intermediaries including those enacting in B2B type of platforms may not conduct business with FTNX, as we do not conduct business  with ignorant or ill formed traders. We only conduct business with “Principals” heading the purchasing department of their company world wide, stock broking houses, or merchant bankers-on merit. Companies looking to pay for and ‘hold title’ to secured goods, without taking possession of such goods, for exporting or reselling at a later time  may apply. The end buyers is defined as the ‘buyer’ taking possession of goods ordered from the Seller FTNX. If the 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 – otherwise  the ‘buyer’ purchasing goods form FTNX  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 advising 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 or via a trade list , and is useless aspect to us. We conduct business privately and personally only with end buyers we approach or who approach us. If an end buyer needs a certain  product they may approach us to source such products. 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. We take no short cuts. Our procedures are formidable and laden with security features, usually way beyond what end buyers expect.The  end buyer is conducting business with the world leading PCT  expert ( FTN Exporting). We wrote the rules of practice  of such safe dealings. We have been in business since 1988. Our Brokers (if /when used) are the best trained and informed trading agents in the  world.


TRIAL SHIPMENT 

End Buyer who  a new or are unsure about doing business with  FTNX, may ask for a trial shipment . All formalities of contract is concluded in when the first delivery is made . If the end buyer is satisfied with the purchased product, the contract continues its full revolving aspect, 2 months after the first trial shipment is made, every months there after. If the end buyer not  satisfied  with the trial  first delivery  aspect and products therein, standing  contract may be cancelled unconditionally without consequences on the understanding that the first delivery price proper  has been paid for such goods, rather than the offered lower price applicable  to the revolving aspect of a full contract. This aspect is made to ensure that end buyers don’t order a trial shipment, just to take advantage of a better price ( at our loss) in where no intent was apparent to begin with in taking the whole contract.   


  1. Quote or Full Offer is sought or advised to end buyer 
  2. The Offer is accepted . Acceptance  of the Offer; deal becomes  legally binding from this point
  3. Contract is advised.
  4. Contract is returned as signed
  5. DLC to pay for goods advised
  6. DLC is accepted
  7. Loading is commenced. Loading is  completed
  8. Documents are presented to the bank of the End Buyer 
  9. Bank of End Buyer accept the documents only if no ambiguous entires are apparent (At sight)
  10. Seller collects on revolving DLC Payment.
  11. Next ship is loaded; same process applies.
  12. Any defective goods arriving POD as proven in accordance with the contract – the Seller compensates the End Buyer.


IN SUMMARY

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 security orientated deal  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 and pays for goods only from suppliers, which is also a guaranteed aspect. If the end buyer needs a particular goods to be sourced by FTNX then we are given 21 days to source  such goods. FTNX is a very busy entity, accordingly we are experts at what we do. An honourable  end buyer  with good intent wanting to do business with FTNX will be served intently by FTNX. An end buyer whose intent is anything  but honourable will be discovered  quickly and quickly dismissed




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