Buyer & Seller Qualifications
Qualifications & Procedures
Apex Energy Alternative Resources runs proper due diligence on all suppliers and buyers to help ensure a secure transaction for all parties. Due diligence procedures include:
- Extensive background checks on all parties
- Blacklist checks
- Outsourced private investigation
- LOI or full corporate offer procurement (buyers)
- Adherence to all U.S. banking regulations, including irrevocable, non-transferrable, revolving documentary letter of credit.
Procedures for Buyers
The procedures for buyers are as follows:
- Buyer's request must include LOI/ICPO. Please quote port of destination/origin quantity and price in the LOI/ICPO.
Please understand that it may take time to for governmental approval before beginning business transactions, especially if this is the first time the governmental body has negotiated with the offering company.
Procedures for Sellers
Full POP for sellers consists minimally of:
- Copy of license to export
- Copy of statement of availability of the product
- Copy of refinery commitment to produce the product
- Copy of the port storage agreement
- Copy of the charter party agreement
Partial POP for sellers consists minimally of:
- Tank Receipts and corresponding SGS Reports
- Authorization to Dip Test and validate Title Docs at Seller's Bank
- Copy of Refinery Allocation listing the supplying refineries to the Seller
Products on a vessel:
- Bill of Lading
- SGS Reports
- Vessel's manifest (Flag, Captain's name & crew)
- Letter of origin from the supplier
Third party representatives for sellers will need to submit authorization on the letterhead of the refinery that you are representing or papers verifying that you are the legal representative for the company.