AboutDavide 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.
Question Many thanks Papa so much for the learning curve patience and commitment.
I would wish to know the precise details required more from me on the RFQ should i get to secure the end buyer's mandate to be to get the end buyer's consent or agreement on a $495 per MT on CIF basis.
Grateful, in anticipation for your prompt response as usual.
Regards,
Luqman.
Answer
Dear Luqman
Read carefully-
FYBR study application-
You act as a Buyer seller . The first rule, the golden rule above all else is that Supply MUST be secured from a verifable "supplier in possession of goods" and not another misinformed intermediary seller.
This means chasing the end buy is a wasted effort if you don't have supply first. Sure, one can also trade and source the supplier after an inquiry is provided by a end buyer ,if the end buyer has contacted the trader without solicitation, but what often happens is this-
The intermediary touts offers all over the planet - " We have this and that to sell"- in a hope they get a reply from an end buyer. The intermediary then thinks because they have the end buyer they can source the goods they are asking for, only to find they cannot get such goods. Some intermediaries even go further in where some think that if they can get a BCL (Bank comfort letter) from a end buyer , they will easily get supply of goods they are seeking. They can't. Most also get confused in thinking that their postion next to the end buyer makes them a mandate trader of the end buyer. They are not.
Now if above is what FTN exporting is advising to Intermediaries via its training publications, then by default FTN exporting must also apply such edicts. FTN exporting Looks for Suppliers directly then offer goods to end buyer direclty or with the assistance of other intermediaires-
The problem here is that Unlike everyone else , FTN exporting ostensibly being the leading intermediary expert on the planet and one of the only few entities who can claim such expertise- This means FTN epxorting is being asked by many to "assist' them in matters of supply.
FTN cannot act outside its own protocol, accordingly since so many are asking for assistance, then FTN exporting also needs to have upfront full disclosure of the end buyer or Supplier before it will even consider any such offers of help.
FTN asks for a REQUEST for a Quote (RFQ) or Offer to seller (OTS)for to be filled in and surrendered accordingly before it can act on any request for assistance.
FTN cannot provide a NCND agreement because FYBR states that such agreements are simply useless as far as protecting intermedeiaires interests- TN cannot issue Payorder eveyr five minutes either- simply because it get many request per day and because most deals don't get past contract stage anyway.
The only thing FTN can depend on is its harded earned reputation and integrity- FTN ask the intermediary to disclose fully who is the end buyer or supplier and other vital information upfront as applied on a RFQ or OTS
by the intermediary looking for assitance.In return FTN loolks after the intermediaires commission and allows transparency to prevail on the said deal being attempted.
FTN accordingly uses the information given in accordance with its own URPIB rules of trade- in where FTN cannot ever use such information given ever unless the person who originally gave such information is involved in any future deals involving the use of information surrendered in the past-It won't ruin its reputation in doing otherwise-
If you have a end buyer, for goods we need to source , then you probably won't get a reply- if you have a RFQ for goods goods listed on the FTNX then is the RFQ informaiton is solid you'll get an offer to pass forward-
www.itsi.itg.com has the model document we requre to be returned.
I hope this time you quesiton is fully answered
Kind regards
Davide Papa
www.ftnexporting.com
www.ftnx.9f.com
