1. What kind of validation do we need about a prospective buyer?

We are required to validate all our prospective buyers in following 2 credentials before we enter into any official supply agreement, commitment and/or contract.
1. Compliance management issues
2. Financial capability issues

2. How do we validate a prospective buyer?

We do not accept any type of proof of funds, bank comfort letter, past purchase documents etc. as a prospective buyer’s own validation documents. We perform the task of information gathering ourselves. If we think necessary, we appoint experienced professional third party entities, at our own expenses, to validate a prospective buyers’ credentials in compliance/regulatory matters and in financial capabilities.

3. Intermediary Companies, Agents, Brokers

Yes, we do work with Intermediary Companies across the globe given that the said intermediary company has appropriate paperwork in place with end-buyer clearly stated as their representative. Otherwise, we are not interested.

We are required to gather background information on compliance management issues on all intermediary companies we work with same as we do on end-buyers. All kinds of pricing, payment and delivery related communication/negotiation will take place directly with end-buyer only and not with the intermediary company. Please read more about our Intermediary Engagement.