AboutDavideAndrew Papa Expertise All matters pertaining to assisting Private import export INTERMEDIARIES, AGENTS and BROKERS Regarding International trade Laws and procedures,Letters of credits, as per UCP600,Presentation, Commissions,International Rules of agency, and Incoterms 2000. All matters pertaining to shipping documents relating to the Import and export of products from one country to another.All matter for buyers and sellers of commodity products relating to the import and export industry.FTN with the introduction of UCP600 will release the publication "The world is yours" made specifically for Intermediaries.Our advice website is www.ftnx.9f.com
Experience FTN exporting founder Davide Papa has been trading for over 20 years- and has dealt with a huge variety of corporate entities including Gold and crude oil suppliers.FTN appeared in a major controversial Newspaper editorial in 1994- FTN exporting publication " The world is yours" is now in its third year of online publication.
Expert: DavideAndrew Papa Date: 6/29/2008 Subject: fully funded transferable lc
Question Dear sir,
Straight forward scenario. I'm the middle man; My supplier gives price £XXXX amount i then add £xxxx extra and quote my buyer.
The problem is that the supplier will only take a FFDLC at sight!!!
Q) how do i claim the added amount ( profits) from this deal?
kind regards
asif
Answer
Dear Asif,
I can't explain 500 pages needed to learn and study correct trading procedures-You are trading incorrectly-is an obvious factor here-just by the way you've defined the question-
Be advised on some insight below-
Did you read FAQ on the www.ftnexporting.com site-???
The supplier accepts the bank ADVISED DLC from YOU- The end Buyers is the ISSUING Bank, YOUR Bank is the "advising Bank" - YOU NEVER ALLOW (DISCLOSURE) THE SUPPLIER TO DEAL WITH THE END BUYER OR VISA VERSA- BOTH SIDES LEADS TO YOU- THUS IF NOBODY CAN PASS YOU- YOU CANNOT BE CIRCUMEVENTED-
You accept DLC from the buyer as transferable-AS PER YOUR SELL PRICE- You ADVISE the buy price portion of the DLC as NON transferable to your supplier- The difference remains in your account- When delivery is correctly applied as per your documents presented to the end buyer bank -as obtianed from the supplier TO YOU , the deal is Finished- YOU GET YOUR COMMISSION AS PER THE PORTION LEFT IN YOUR ACCOUNT, THE SUPPLIER GETS HIS MONEY - The ship leaves the loading port and heads to the destination port- the end buyer who surrenders the documents YOU SUPPLIED, to collect the goods at destination port - because YOU passed such "TITLE" Documents to him- YOU AS AN INTERMEDIARY CAN ONLY SELL "TITLE" TO GOODS- POSSESSION ND TITLE IS OBTAINED ONLY BY THE END BUYER-
THERE IS NOT OTHER WAY TO FORMALLY COLLECT COMMISSION- You are the sourcing intermediary at one moment, then it is YOU who MUST take on the position of BUYER/SELLER LATER when a deal is happening, or you have no deal...and you will be circumvented on commission-EVERY SINGLE TIME-
99 percent of internet Traders have no idea how to close a deals as an "intermediary"-if you follow those traders' procedures- then never expect to close a deal-NEVER!
Also there is no such thing as a "FFDLC"(fully funded) Such does not make sense- A bank issued "DLC "is already an active instrument by name-you can't have a "FULLY UN FUNDED DLC"??????
You really need to learn procedures -You cannot close a deal using LOI/BCL/FFDLC, ASWP, NCND, MPA agreements ..etc,..etc..its been all a Myth- You MUST trade using only safe intermediary procedures-Anyone can become a BUYER/SELLER if you know what you are doing- you cannot make commissions just holding position of a sourcing intermediary in a string chain-
