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 Hello Davie,
I am doing a contract deal for 12 months, as the PIA I have discussed with buyer to open a PA UCP 600 IRTDLC which he will do. So we will be dealing with DLC as financial instrument.
My plan is to repeat steps 17-22 on trading path for each shipment. Every time shipment goes out, supplier sends docs etc.
Does that make sense or what would you advise?
Answer
Dear Paula
You have to guarantee the whole contract otherwise the buyer will buy one shipment and cancel the contract then go to the supplier directly-
So all step are correct except - Make sure it s a non cumulative revovling credit that is being sought " guaranteeing" the value for then whole contract in where 3 shipments in advance always remain the active status value until the last 3 shipments in where the credit reduces to 2 then one in where the DLC expires a month there-after.
Make sure they can open such a credit-Not all bank will open a Pre advised credit-
make sure the pre advised credit turns into a full active credit, once you have provided information to take then pre advbised status off-
See how you go
Regards
Davide G.A Papa
Author : "International Trade and the Succesful Intermediary(ITSI)
www.ftnexporting.com
www.ftnx.net
