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About Davide Andrew 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 UCP 600,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 UCP 600 will release the publication "The world is yours"(2004) made specifically for Intermediaries.Current inhouse tra ining manual is "Follow the Yellow Brick Road"(2008) Our advice website is www.ftnexporting.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 official publication "International Trade and the Successful Intermediary"(ITSI) is about to be released world wide (December 2009) by the prestigious U.K publishing firm Gower's (U.K) and is listed on Amazon.com (Keyword: International Trade Intermediary) ITSI is ostensibly the first uniform intermediary trading doctrine of its kind, and will become the standard intermediary practice world wide in years to come. FTN exporting has created the said doctrine and supporting rules of trade defined as "URPIB" (Uniform Rules and Practice for Intermediaries and Brokers), which will (has?) become the most successful set of private intermediary rules ever created.

Publications
The World is Yours and "Follow the Yellow Brick Road" www.ftnexporting.com . Author of "International Trade and the Successful Intermediary " (ITSI) 2009 excepts on http://www.gowerpub.com/default.aspx?page=637&calcTitle=1&title_id=11177&edition_id=12138

Education/Credentials
Let school early. Became a master chef . Took up business management and later studied "international Trade at Stott's college Melbourne, Australia.

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Distribution of Products - oil trading

Expert: Davide Andrew Papa - 11/9/2009

Question
I have been asked to help secure a bank letter of credit for a transaction involving the sale of diesel fuel D2 from Gazprom. Is there some chance of this transaction being legitimate? The seller has been represented as an "Allocation Holder". Why would any of the parties in this market require an additional intermediary? Thank you.

Answer

Dear Chris
It's rubbish..They don't have anything- They think that by getting a BCL they can go to the Russian supplier and Say "look, we have money sell us some oil"- Intermediaries do not deal in BCL, and no person with a half a brain would provided one anyway.

The Intermediary first MUST secure an offer from a SUPPLIER- the same intermediary securing the offer converts his position from sourcing intermediary , to become the actual buyer/seller-

If an end buyer was approaching a real supplier, then the supplier may sometimes make demands of the end buyer including matters of financial reports - taking weeks if not months just to establish buyer credentials- Especially is payment being offered is not based on a DLC application.

An intermediary asks for an offer , contract - 7 days after contract is signed , the intermediary must have secured the end buyers funds to pay the suppliers- thus 20-28 days supplier has his money ,its ONLY in a DLC form, for goods to be delivered 2 months time- The DCL is worthless if no delivery eventuates- but only becomes valuable when the supplier performs-The DLc upfront is in fact a type of Bank guarantee- If the supplier performs the bank issuing DLC is "guaranteeing" payment

With an intermediary , the supplier gets his money upfront months before first delivery- With a end buyer , once financial reports are given , payment may not arrive a until goods are loaded -Big difference.

One is a very quick application, the other ins Not - Intermediaries only deal in the quick applications, dismissing all other forms of payment advice.

In effect , while one is waiting for a BCL, the intermediary has produced a DLC- What's better a BCL which guarantee's nothing , or a DLC which guarantee's payment

Worthy note- A large Russian corporation has looked at FTN's procedures which they are now going to adopt themselves- Quote, offers, contract, DLC, delivery ( commission payments) That's the same procedures the intermediary MUST apply as well.

They were simply trying to do what you were suppose to do , but in a silly ill informed way.

Regards
Davide Papa
www.ftnexporting.com
Author " International Trade and the Successful Intermediary"

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