Verified, DD Offer, Equals
Authentic & Closed Deal
“80% of our time is spent on
DD” - Dean Bowman, Senior
Trader, TCT, Neatherlands
“Sadly, most participants in
Internet trade today are only
brokers, and come in chains of
brokers, and never know or
even care or try to find out if at
all there is any real seller or
buyer at their end" - Benjamin
Anosike, Ph.D., Director, ROD
“In deed, to read the
“deals” and “offers”
proffered these days by
this largely misguided
network of Internet brokers
and buyers and sellers...
you are apt automatically
to think that these
procedures are actually
the REAL thing or the
REAL, correct, industry
Verify, Do Due Diligence In Your Crude Oil & Refined
Petroleum Product Deals, OR Perish, With No Deals
WHAT WE ARE ALL ABOUT IN THIS WEB PAGE (AND SITE)
In this web page (in deed, in this entire website), forget the ‘Joker Broker’ ways
that seem to be all over the Internet today, and are being widely used by misguided
brokers and intermediaries who have currently taken over and dominate in the Internet
trading world today. In this web page here, we are utterly and adamantly committed to
one thing: To returning, once again simply to doing things and to doing the
commodities trading deals, in the normal, “standard,” good, old, way, using the RIGHT
AND CORRECT RULES & PROCEDURES. Here, we've re-dedicated ourselves to doing Deals, once again, that involve ONLY Buyers or
Sellers (or Brokers) who are “Qualified,” who are, FIRST and FOREMOST, well-vetted and verified beforehand, and who ONLY use the
Correct and Proper trading protocols and Procedures recognized and accepted by respected International trade leaders of the world,
such as the ICC, the World Bank, and the like.
This way, we will begin again, both as intermediaries and as traders who operate in the international “secondary market” today, to
actually close deals, once again, we will begin to actually have offers and deals that are, once again, REAL and AUTHENTIC, and
to find a lot less of them that are merely scams, fakes and frauds!
EVER NOTICED THAT ALMOST ALL (IN DEED NEARLY ALL) OFFERS & DEALS YOU FIND THESE DAYS ARE FAKE?
Hear what various authorities and credible voices say about it……
“The large majority of deals (in fact, almost all of them) that are being passed around the broker world, are either fake deals, or deals that
might have been available for a 3-day window but are still being circulated days, weeks, and even months, after the deal was closed and
delivered.” – Jockerbroker.com
“Anyone who’s got involved in the inevitable daisy chains [of brokers] that are part of the online international commodity ‘trading’ business, has
learned a new meaning of the term "dead end.” The fact is (and this is learned from real oil traders who know from experience) that most of
these "deals" are just fake, plain and simple. Thanks to the Internet, these days some phony-baloney oil brokers even have their own
websites and call themselves petroleum suppliers or petroleum companies even though they may not have completed a single real oil trade
transaction in their lives.” -- Robert McAngus, the Chairman and CEO of the McAngus Group, the Marbella, Spain based
global conglomerate that’s actively engaged in the business of oil products and other primary commodities.
“The absolute truth is that the majority of offers on the Internet and sent by email are simply fraudulent.” – Edward C. Bahl, CEO Global
Petroleum Resources, Palm Harbor, Fl., a prominent petroleum item dealer who’s one of the very few that largely keeps a clean shop.
“I really do not believe any, and I mean 100%, of the offers [put out nowadays by brokers and intermediaries] have even a shred of truth. ….If
you do proper due-diligence, WHICH NONE DO, you would know the deals [offered] by the internet people, are fake.” – Dean Bowman, CEO
of The Commodity Traders company (TCT), the Netherlands.
“Sadly, most participants in Internet trade today are only brokers, and come in chains of brokers, and never know or even care or try to find out
if at all there is any real seller or buyer at their end, and if there is one, who exactly they are or what they are. And, as a result, the overwhelming
majority of the so-called offers or requests for products that come into our office daily these days, 24/7, are pure fake and unreliable” –
says Benjamin Anosike, Ph.D., Executive Director, ROD, & expert author of a best-selling book on the Proper Oil Deals Closing Methods
ANY WONDER THAT SO MANY REAL TRADERS TODAY JUST FAIL TO FIND REAL & AUTHENTIC SELLERS OR BUYERS, AND ARE SO
DESPERATELY LOOKING, AND LOOKING, AND LOOKING, BUT CAN’T SEEM TO FIND THEM?
FACT TODAY: In today’s Internet dominated ‘secondary-market’ commodities trading environment, just about every seller (and their brokers and
agents), eagerly says that what they’re most eager for is to find “real and authentic” buyers, while just about every buyer (and their brokers and agents),
equally says they badly want to find “real and authentic” sellers more than anything else.
They say this for one simple reason: Simply that in today’s Internet commodities trading market, it has become increasingly very difficult to get or find such
dealers – REAL and GENUINE Sellers (or Buyers, as well, as the case may be), that actually have products that they can supply, or that have the money that
they can employ to buy product. In deed, it's becoming almost practically impossible!
Here is how Benjamin Anosike, Ph.D., an expert author on the subject, explains it….
“The Internet market has virtually become taken over, and is now dominated, essentially by the misguided and uninformed “Joker Broker” fraternity – a
new age generation of intermediaries (brokers, agents, facilitators, self-proclaimed sellers and buyers, etc), most of whom, if not nearly all, are
untrained and unschooled in the TRUE methodology or rules and procedures of international trading, and lack much practical experience and
knowledge in the inner or real workings of the commodities trading, and, hence, all that comes from them, are always just ‘Joker Broker’ type product
“offers” and “deals” or procedures that are largely flawed, inappropriate, unworkable, and/or FAKE and SCAMMY! As well as dubious “products,” and
dubious “sellers” (or “buyers”) that are largely UNVETTED and UNVERIFIED, and generally don’t exist!”
What has happened, in a nutshell, is that the Internet-based Joker Broker traders (and their network of multiple broker chains), have somehow cornered,
hoodwinked and hijacked the Internet secondary market international trading platform. And since they generally know little or nothing about the TRUE and
CORRECT rules and procedures of doing the business, they've imposed their will and their erroneous rules and procedures on the commodities secondary
market, and simply propagate and pass around their grossly faked, erroneous product “offers” and “deals” as though they are the real thing, thus leaving
LEGITIMATE sellers and buyers (or their few legitimate brokers that operate) in the industry, continuously bereaved of, and seeking for, REAL offers and deals,
and REAL and non-scammy dealers.
How The Joker Broker "Culture" Has Taken Over in the Internet Trading Platform
In fact, so powerful and so pervasive has the influence and the hold of this Joker Broker fraternity become on the Internet secondary market commodities
traders, that even the highly experienced and legitimate traders and business professionals who you might ordinarily think should know or act better since they’
ve operated in the business for long, have largely succumbed to the Joker Broker network, and would, often apparently unbeknown even to themselves,
unwittingly espouse, mouth, and advocate, precisely the same badly flawed procedures that are promoted by the Joker Broker crowd.
Hear this from Robert McAngus: “And for one moment, don’t think it’s only the unschooled that fall victim to these daisy chains. Many sophisticated and
intellectual people such as attorneys, experienced business professionals, both men and women, who should know better, are frequently drawn into the black
hole created by these ‘Joker-Brokers.’ ”
In deed, to read the “deals” and “offers” proffered these days by this largely misguided network of Internet brokers and buyers and sellers (we call them the
Internet Joker Broker fraternity), you are apt automatically to think that these procedures are actually the REAL thing or the REAL, correct, industry “standard”
procedures that legitimate traders use, or should be using – upfront ICPO, BCL, LOI, FCO, etc. That’s how much they’ve taken over the market!
AND THE RESULT?:
- FOR THE JOKER BROKERS, THEMSELVES? IT HAS DEALT AN AWEFUL BLOW! The Joker Broker traders (a good many of whom,
actually engage in the wrongful way of trading, not deliberately, but without knowing what they are doing!), have, themselves,
often been the brutalized principal victims of their wrongful trading methods and procedures – most Internet brokers, in deed
nearly all of them, never close any deals, ever, and never make even a single dime in commission for years and years in the
business, and would eventually drop out of the business in frustration. Or, in desperation, turn to the scamming of others. (But
don’t ever expect to hear or know this FACT from the Joker Brokers! They would generally hide this FACT in utter embarrassment,
and would outwardly pretend or even claim otherwise, acting as though they’re closing countless deals or making zillions of
dollars by the hour!!)
significant part of the brunt of the damage that is the result directly from the wrongful trading methods and
- FOR THE LEGITIMATE BUYERS AND SELLERS? IT HAS HAD AN AWEFUL IMPACT OF ANOTHER KIND! In respect to the
LEGITIMATE buyers and sellers (and their brokers and agents) who genuinely seek to find product, they, too, have borne a
procedures of the Joker Brokers – almost all of these buyers and sellers find themselves generally unable to find real or
genuine products or dealers, and in their eagerness to find one, frequently become the real targets and preys of scamers and
fraudsters as they desperately search in vain to find genuine product suppliers or buyers.
AND, FACTS ARE, IT COULD POSSIBLY GET EVEN WORST PRETTY SOON EVEN FOR REAL BROKERS!
In deed, some traders actively involved in the commodities trading business, have worried out loud that, based primarily on certain
anticipated or actual effects from many international regulatory reforms adopted globally by the world’s major economies in recent times,
principally the so-called “Vocker rule" and Basel III, things could soon get even far worse for the
broker and intermediary world, even to the point where they will become redundant and unnecessary for the average commodities
Hear Dean Bowman, for example, in January 2014:
“[The] Problem is bad and getting worse. No access to capital due to Volker Rule, New Banking Regulations, Basel III, and of course
most big banks will not engage as they are out or getting out of this [commodities trading] business. So, as I have written several
times. If you [the trader upon whose business the broker or intermediary depends for a successful offer or to earn a commission] do not
have access to $200m+ IN CASH, then you are wasting your time.” (He is a Senior Trader at the TCT, The Commodity Traders BV, the
Netherlands, a prominent and well-respected significant player in the international trading scene).
In deed, according to Mr. Bowman, in his own assessment, we’re already at the dire almost-too-late-to-save-hour: “This business just
killed the ‘Intermediary market’ and the brokers’ coffins nail was put in place with the Volker Rule and Basel III.”
Today’s Internet brokers are notorious for lacking the essential training/knowledge
or the experience, about the proper rules and procedures….
|THE PRINCIPAL SOURCE OF THE PROBLEM?
NO DUE DILIGENCE, NO VERIFICATION, ON THE OFFERS OF PRODUCTS BY
THE BROKER WORLD. PLUS MASS IGNORANCE OF THE TRUE RULES & PROCEDURES
Hear Divide Papa:
“Without the requisite knowledge of correct trading procedures, you [the seller, buyer, broker or agent/intermediary] are
simply wasting your time attempting to trade….Anyone attempting to do business with these types of procedures [that
today’s Internet intermediaries peddle, 99% of which we delete daily]…as either inappropriate or unworkable, will also be
unable to close a deal or to collect a cent in commissions, no matter how long they trade for or how hard they try.” (He is
the founder of FTN Exporting or Australia, and the co-author of the well-know commodities industry book, “International
Trade & the Successful Intermediary.”)
Papa continues, on to the consequences:
“The result [of the use by the current Internet traders, of incorrect, inappropriate and unworkable Joker Broker type of
procedures]? Suppliers can’t be bothered to reply to dubious purchase offers or requests for quotes. Similarly, end buyers
won’t reply to equally stupid offers. As a result, the only people ‘trading,’ are all those misguided intermediaries [and
equally misguided traders] chasing each other’s tails for deals that are, for the most part, incorrect or fake. Add to
this the plethora of scam emails and the like, and you have what amounts to a ‘circus managed by clowns’ rather than a
serious trading environment. …[you find there are] thousands upon thousands of worthless offers and contracts being
touted by intermediaries who obviously have no idea what they are doing, evidenced by [the procedures they use].”
Hear Kamal J. Southall, author of “Trade Fraud, Financial Fraud, and the Joker Broker”….
Sees most current brokers and intermediaries as simply acting scornfully as "Joker Brokers" "who knowingly or
unknowingly peddles and plies deals and products that, in the vast majority of instances, are non-existent, or badly
defined….[and go] plying deals often involving a string of brokers from one end of the planet to another, and yet not a
single one has verified the very existence of the goods at hand."
Hear Benjamin Anosike, Ph.D….
“If you are like the average broker or agent who’s been involved in the business of commodities trading for a while, ask
yourself these simple but critical questions: “How many deals have I closed being a ‘broker,’ or ‘agent,’ ‘facilitator,’
‘mandate,’ or what have you?” “And how much commission income have I made for months, even several years, of doing
it?” (Probably NOT one deal closed, or one dime made, right? That’s what credible research definitively shows).
And then, ask yourself the next logical question that follows from that: ‘WHY’?”
ANOSIKE ANSWERS: “The simple answer is that this owes its roots [aside from their mass lack of education and training
in the trade] precisely to the fact that the vast majority of the sourcing brokers and agents who operate in the
Internet crude oil and petroleum products trading business today, merely go around dutifully but indiscriminately
collecting and amassing SPA (Sales and Purchase Agreement) documents, ‘LOI,’ ‘ICPO,’ and ’POP’ documents, and other
similar documents,…and simply pass them over to any prospective buyers they can reach, virtually with nothing
ever vetted or evaluated by them concerning the reliability of the information being peddled, or the bona fides of
the providers or originators of the documents or even the actual existence, availability or authenticity of the product
|AND SO, WHAT IS THE SOLUTION?
SIMPLE: YOU’VE GOT TO GET BACK TO USING THE RIGHT RULES
& PROCEDURES THAT RELY ON VERIFICATION & DUE DILIGENCE
What the-above-described state of affairs means, is….
To ALL BUYERS & SELLERS (the REAL ones)....
If you are a buyer wanting to get some VERIFIED “real and authentic” sellers, you have no right to expect or to get one IF you are not,
yourself, willing and ready to be a VERIFIED “real and authentic” buyer, and you shouldn’t complain for finding only fake and unreliable
And, the same thing goes for you, if you are a seller wanting to get some VERIFIED “real and authentic” buyers. You, too, should have no
right to expect or to get one, IF you are not, yourself, willing and ready to be a VERIFIED “real and authentic” seller, and you shouldn’t
complain for finding only fake and unreliable buyers!
THE POINT: If you are really, really, really genuinely serious that you want to find REAL and AUTHENTIC buyer or seller, you
should do your own part, too, and be willing to submit yourself to verification, and to provide reasonable disclosure of the
necessary business facts and information about you and your company, or of the company you claim you represent, if you're a
Back to Only Deals and Offers that are Verified and Verifiable, and Have Prior Due Diligence
In this business, as in any other, hard work and efforts are the ONLY things that create good results and good fortune. THERE ARE NO
SHORT CUTS! Put, simply, if you do not perform proper due-diligence BEFORE you pass a deal forward to us, how can you ever hope
to close such a deal? When you don’t know, and are not sure, YOURSELF, what exactly you have?
Absolutely send us no offers that you have not First Verified.
If you have an offer that falls under any of the following, and you have not first verified or done due diligence on it
before sending it to us, please don’t send it as it’s a pure waste of our precious time, and we will reject it outright:
6. You're too big (you think!) you can't answer the Questionnaire, & only want to rush to submission of "ICPO,"
"LOI," "SPA," Upfront "NCND," and similar meaningless JokerBroker documents
7. You don't have a phone line (can't afford one) to do business, and ONLY want free Skype "chatting"
8. You habitually don't return phone calls/emails, or don't TIMELY return or respond to phone calls
9. You are offering BLCO for sale, but you or your "seller" can't provide an Upfront 2% PB (because you can't afford one!)
10. You offer procedures (typical Joker Broker procedures) that start with demands like upfront BCL, NCNDA, IMFPA,
“soft bank probe,” etc., to you or via another mere unknown Internet contact
11. You are not the TITLE HOLDER to the product you’re offering, but you DON'T personally know the actual Title Holder
12. You are sending us a "Deal” or “offer" you received over the Internet, but which you never verified & Can't provide any verification for
13. You are sending a "Deal" you merely found on an Internet blog or portal, such as Linked In, TradeKey, Alibaba, or any other website that allow
UNVERIFIED posting of products that belong to others, but you've NOT verified it yourself.
To Do Business With ROD, Using the CORRECT Rules & Procedures, Follow These Basic Step-By-Step Working Process:
STEP ONE: We (yes, we here at the ROD Group) will lay out in general terms, as well as in specific and exact terms in a particular given product offer or
request, what we absolutely KNOW to be the CORRECT and PROPER rules, methods and procedures by which LEGITIMATE commodities trades that are
“mutually safe” and risk-free for BOTH the seller as well as the buyer, should be undertaken – the types that are guaranteed to ensure that the
LEGITIMATE seller involved in the trade, gets his rightful money and in the proper amount and timely, upon his delivering the product; and that the buyer as
well, in his own part, does not lose his money, but rightfully gets his goods and in the proper amount and timely, upon his making proper payment.
NOTE THAT the trade rules upon which these our rules and procedures are directly based, are the same ones that are used and recommended by the
internationally recognized, world-class organizations like the ICC and World Bank, etc., as the world "best practices" & “safest” procedures.
NOTE: For one thing, this book will provide you some bare knuckle elementary background foundation knowkweledge that you'd need for starters. Plus, it
- Incoterms 2010 Delivery rules. (Covers the RIGHT shipping and delivery methods. For an idea of these rules, see THIS )
- UCP 600 Banking Rules. (Uniform Customs & Practice for Documentary Credits or ISP98 = International Standby Practices. Govern the RIGHT
payment methods) For an excellent version, SEE
- URS 522 Collection Rules. (For a fair summary overview, see THIS )
- Basel III rules that contribute to safe trading procedures (For example, Basel 3 would require [at least in the spirit of it since it's adoption], that a
supplier must FIRST provide some POP or PPOP before it receives a POF, among other things).
- Recognized principles of accepted standard "industry" practices, procedures & rules, among world's foremost experts and respected institutions. For
a current authoritative guide, See THE BOOK.
goes quite a bit into the art of doing DUE DILIGENCE and verification work, and the rudiments of undertaking a DD project, among other things.
STEP TWO: THE END BUYER OR SELLER ITSELF (NOT BROKER) MUST PERSONALLY COMMIT. EVERYONE, dealers as well as
intermediaries (with absolutely no exception or deviation whatsoever), who brings us a sell product offer, or a product request to make a purchase, MUST
FIRST strictly accept and commit to follow the rules, methods and procedures we lay out, and MUST actually follow them. In the case of an intermediary, if
you are a "Qualified" broker, an agent or any other intermediary that we approve to work with, YOU will have to assure (and show) us, as well, that your buyer
or seller ITSELF has in fact actually seen the stated procedures that apply in the particular offer and has himself studied them, and that they themselves
(and NOT just the brokers) explicitly accept those procedures and agree they’ll work within them for the given offer. We will NOT just accept broker word or
claim that the end-buyer or seller accepts, or does not accept, the given rules and procedures.
Upon your contacting ROD, please just say this: "Please send me The Preliminary Get-Acquainted Informational Questionnaire.” ROD will send you a
simple QUESTIONNAIRE which quickly enable us to find out what EXACTLY you need and/or can provide, and how we can best serve you and your needs.
You complete those simple questions and return the Questionnaire to ROD.
(You'll find, as you'll quickly see when you get the Questionnaire, that the questions you are asked in this Questionnaire are all of mere GENERAL nature.
All are routine, none "confidential" merely informational matters meant simply to enable us have some broad idea of what your basic selling/buying needs
and plan are all about. Nevertheless, we still guarantee absolute confidentiality for EVERY bit of information provided in that Questionnaire).
NOTE: Understand that our whole system of operation here at ROD depends primarily and almost totally on TRANSPARENCY and FULL
DISCLOSURE of the relevant facts. It is ONLY if we have the full or adequate information (from both the buyer as well as the seller involved, or the
broker, etc) that we can do a proper and good DD (due diligence) job, and it is ONLY if we can do a proper and good DD job, that we can possibly
fish out which offers and brokers, agents, buyers or sellers, areREAL and GENUINE, and which ones a FAKE and a SCAM, and no good. That’s the
only way. There’s no other “magic” that anyone on Planet Earth can do to make that happen!
And, since most “offers” peddled by people today, are fake or dubious, if the “buyers” or “sellers” you present cannot be verified in advance as to their
legitimacy, no LEGITIMATE seller or buyer either will want to proceed with you or accept to circulate their confidential data, their banking information
and all, to some dubious “seller” or “buyer” you present which they don’t know anything about from Adam! It’s that simple! HENCE THE MESSAGE: We
cannot emphasize this enough that UNLESS you provide total transparency and full disclosure of the relevant facts, nothing will work!!
STEP FOUR: ROD Reviewers will review the information in the returned Questionnaire. The nature and quality of the information we gather from the
Preliminary Questionnaire (and, often, plus the degree to which the broker or buyer/seller involved, is forthcoming and cooperative), gives us a pretty good
idea at that point whether the offer or business proposition possibly has any promise and warrants a further follow up. At that point, we can probably engage
further in some personal back-and-forth "discussions" to try clarify certain matters that may still not be very clear at that stage from the answers. If we decide
that this is an offer or business proposition with some apparent promise or worth pursuing further, at this point we may request you (if you are a broker or
intermediary that had brought in the deal), to provide us your own profile letting us at least have an idea of who you yourself are that we’re dealing with. And
we would, on our own part at ROD, furnish you with our own business profile. (Actually, with ROD, we are somewhat unique and exceptional in transparency
matters in the entire industry - we, more than any such agency in the field, 'let it all hang out there’ in terms of PUBLICLY providing the background
information about us since we have absolutely nothing to hide or to be afraid of!)
STEP FIVE: SIGNING NCND AGREEMENT. Our policy is that if you show that you are a serious contact as a seller or buyer (or a Qualified
intermediary), and that what you have looks like something that's possibly a CREDIBLE offer or inquiry, we will be willing to enter into an iron-clad NCND
agreement with you at that point in order to reassure and encourage you, before we can move further into a transaction phase. Consequently, if you come
successfully up to the ‘Step Four’ stage above, with us, then thereafter ROD will willingly sign a good NCNDA (Non-Circumvention, Non-Disclosure
Agreement) document with you.
Oh yes, we know all about the fear of possibly being “circumvented” being rampant among brokers, often being the main factor that cripples an otherwise
promising deal. Hence, we’ve adopted the policy that once we find we are at a point where it looks like the offer or source or resource you have, or are
bringing forth, is something that may possibly have some good promise or credibility – say, a potentially credible buyer or a potentially credible supplier or
source of product, or a lead to it – we would at that point immediately be willing to sign a strong NCND agreement with you. This way, we clear up any
legitimate fear, concern or reason you might have of possibly being circumvented so you can go ahead and provide us a full disclosure of any relevant
information you might have to enable us do our verification and DD job most effectively.
STEP SIX: PROVIDE THE SELLER'S/BUYER'S CP TO ALLOW A DD. At this point, you will need to provide us the full CP (Corporate
Profile) of the title holder seller (or of the end buyer, as the case may be) so we will be able to do our own DD assessment on the selling or buying entity,
and we provide you the name and identity of the intending buyer (or of the Seller, as the case might be), and/or their CP.
This "Step SIX” stage, is probably the single most important stage in the whole process, as it is the stage in which what happens in it will substantially
determine whether a deal at hand, or a prospect or offer, or business proposition, could possibly be determined to be, reasonably, a “real and
authentic” one, or merely one whose credibility is, at best, uncertain, or at worse, just plain scammy and unworthy of reliability.
This is the “step” in the whole process at which the all-important, do-or-die due diligence will have to be done. And be done thoroughly and competently!
FACT: As a general rule, Brokers and intermediaries rarely do DUE DILIGENCE these days, or even have any real conception of the
fundamental need or value of doing it. Most merely collect “offers” everywhere on the Internet and simply pass them along completely UNVERIFIED.
Yet, doing good due diligence is the fundamental essence of the business, the single most important and most effective measure that one can
undertake which has strongest power and potential to drastically curb, or even totally eliminate, having a fraudulent or scammy product offer or deal.
And any knowledgeable trader or respected expert in the industry will immediately tell you that.
THE PRIMACY & AWESOME SIGNIFICANCE OF DOING DUE DILIGENCE IN THIS BUSINESS
SHORT HAND FORMULA: Good and proper DD = Real & Genuine suppliers and buyers. That is, the general outcome!
(There is NO other "magic" that one can somehow pull out of the hat in order to attain this!)
THE MESSAGE? We MUST have transparency and full disclosure by you or any others, OR no possibility of success…..
TRANSPARENCY & FULL DISCLOSURE. In this "SEVENTH STEP," basically you provide us the corporate profile (CP) of the buyer or
seller whose offer or request you are peddling. With a good CP – a good one should be informative and meaningful in terms of
providing some relevant information about the buyer’s or seller’s financial capacity, credit lines and sources, and its record of past
performance in the business, etc – the ROD researchers get to have the proper information and facts that are the basic ingredients
one MUST have in order to conduct the essential DD of the prospect, so as to be able to dissect and assess whether the prospect
presented is a REAL and genuine product, or supplier or buyer. Or, just plain another fake and scammy one. Furthermore, with a
good CP, we have the primary, initial trove of information (for one having the requisite skills and competence for doing DD) which we
can put to great use as the foundation to build and develop our DD, and on which to ask further questions and to request for further
clarification, data or information.
If you are an Intermediary in a deal, it is imperative: you must KNOW your supplier or the buyer involved in a deal
You must know and take strict note, that a paramount dictum of due diligence, is that the party bringing forth or introducing a
business prospect (say, a supplier or buyer of product), MUST, himself/herself, actually know that prospect that he/she is introducing
or is passing forward. To put it another way, what that means, is that if you are involved in a deal as any kind of broker or
intermediary wherein you are passing that deal around, you lack any value, worth or authority to peddle the product or offer UNLESS
and IF you directly know and can identify the supplier (when you are acting on the side of the supplier) of the product, or of the
buyer, when you are acting on the buyer's side. Or, if otherwise - if you don't actually know them - then you are practically of no value
in the deal and shouldn't even ever try to peddle it since you won't be able to VERIFY the end-supplier or buyer involved. And, even
most importantly, the chances of any deal materializing or closing through your contact under that kind of situation, is near to zero!
THE CENTRAL MESSAGE? Don't peddle "offers" provided you by anyone (an intermediary or seller/buyer) UNLESS the identity and
details of the end-supplier (or buyer) involved is known or disclosed to you. And, this way, you too will be able to vouch for it or to
make a proper disclosure concerning that supplier (or that buyer) in a DD situation.
|ROD's STEP-BY-STEP PROCEDURES WE
USE TO WORK WITH ANY TRADERS,
Listen to these experts, respected traders and voices in the industry on this issue......
Hear Davide Papa: “This business is about due diligence….The golden rule of trading is this: never offer goods to anyone unless you have
verified personally that the goods are genuine [and actually available]. Never!” (Papa is the co-author with Lona Elliot of "International Trade & the
Successful Intermediary,” one of the most prominent experts in the field today on the basic methodology and procedures of international trading
by brokers and intermediaries).
Papa adds: “you are not [even] allowed to trade on goods offered by another intermediary in undisclosed form. What this means, is that if you
secure a supplier, or an intermediary gives you an offer, YOU must know who the supplier is, or there is not a deal [in that offer].”
Papa on why it is so utterly indispensable and central that competent DUE DILIGENCE must be done today in this business:
“[Because] it is only when you [a trader or an intermediary] have details of the supplier, [that] you can then begin to check the information you get
concerning the supplier. [And] Your training and knowledge [on the art of doing due diligence] will tell you what to do here.”
Hear Robert McAngus, the Chairman/CEO of the McAngus Group: “The problem [which is at the heart of why there are so many scams and so
many fake and bogus product offers in the market today] is that Brokers [are] passing on information from a ‘Reliable Source’ without doing any
Due Diligence. Due diligence is a phrase rarely spoken of or used by a broker [these days], maybe because they don’t want to find out that the
so called ‘Seller’ has nothing to offer, or perhaps they think that ignorance of the understanding of the phrase will protect them in a court of law.”
(Mr. McAngus heads a global conglomerate actively engaged in oil products and other major primary commodities business for over 35 years)
Hear Benjamin Anosike, Ph.D.: “SO, THE BOTTOM LINE: There are far too many time-wasters and scammers in crude oil & petroleum trading.
If you claim (as most people are wont to do these days, and for good reason!), that you want to get "real and genuine" offers or to find "authentic"
suppliers or buyers of product, then it immediately behooves YOU to be readily prepared to provide the essential information we must have in
order to be able to do the proper DD that one must do in order to try sort out the who is who and what is what of matters! A thorough DD, at the
hands of a competent investigator skilled and experienced in the art, is still the single most effective tool available today by which the scamming
or fraudulent character will sooner be uncovered and detected. ”
Kinds of Information We'll Need From Buyers/Sellers in Due Diligence Work
For a prospective BUYER, ROD reviewers will need to perform a due diligence on the buyer´s company, its track record and ability to purchase, evidence oif
its financial capability and standing. And upon such a DD, a prospective buyer who makes the mark becomesa “Qualified Buyer” and is included in our
ADL (Approved Dealers’ List), and will regularly receive our product offers from fellow Qualified Seller’s on the ADL listing.
And For a prospective SELLER, we will need to perform a due diligence on the Seller´s company, its track record of delivering product to buyers, and ability to
deliver in the immediate future. And upon such a DD, a prospective seller who makes the mark becomes a “Qualified Seller” and is included in our ADL
(Approved Dealers’ List), and will regularly receive our product requests from fellow Qualified Buyers’s on the ADL listing.
In general, all prospective clients/buyers/sellers introduced or referred to ROD, will need to show (in the course of the due diligence process), that it is an
entity recognized within the industry, and should be able to show that it has a record of having previously performed and delived on a similar project, and
should be able to provide verifiable business identity, record and references thereof, it must be able to establish its financial viability or to provide acceptable
STEP SEVEN: FINAL ACT TO CONNECT THE PRINCIPALS BY PHONE CC (AND MAYBE A TTM)
BEFORE WE CAN CLOSE A DEAL
"No phony paperwork, thank you..... If the end seller cannot be put on the phone, doesn't pick up the phone...don't even try to baffle me with your
B.S." - so says John Burns, New York commodities buyer.
ROD completely agrees!
For ROD, upon completion of our in-house DD by ROD reviewers and assuming that it ended up positively, there's really one more final act we've got to
arrange and see through before the deal is substantially turned over to the given buyer and seller involved on a principal-to-principal basis. And that final act
is for us to arrange for a phone CC to take place between the two principals involved in the deal. If the offer had been brought to us by a broker, it is
absolutely expected that at this point the broker would have and will provide the direct phone numbers of the buyer or seller involved, and will fully cooperate
and assist in hooking up the two parties together for their CC. The buyer and seller will speak together, thereupon each will determine or conclude for itself
the validity of the deal, one way or the other, and determine that the deal will move forward (or not move forward).
Will There Possibly Be a TTM Between the Two Principals?
The two principals may also decide at this point (it's entirely their own decision to make), that they wish to have a TTM personal face-to-face meeting on the
At this juncture in the whole process, depending of the particular situation in the case, ROD personnel itself may step aside and allow the two principals to
conclude and sign, say, the contract or other relevant documents to seal a deal. We will only insist upon, and absolutely make certain that, we are kept
informed and updated of the dealings and progress, and will be sure to secure our rights to the due commission and the rights of every other broker
SUMMARY OF OUR TERMS, CONDITIONS & PROCEDURES
Our procedure with Buyers, Sellers, and Intermediaries in a deal, are basically as follows…..
1) For an intending BUYER, YOU (or your broker or agent, if that's the applicable party) will need, from the very START, to provide us sufficient information for
us to be able to do our Due Diligence to ascertain Buyer's capability to do a deal – the buyer’s CP, answers to any follow-up questions we might have or ask
concerning the buyer, information about buyer's recent past performance in buying products, some evidence of their financial capability or standing
in the business, etc. Or, if you are an intending SELLER, YOU (or your broker or agent, if that's the applicable party) will need to provide us sufficient
information for us to be able to do our Due Diligence to ascertain the Seller's capability to perform or deliver product – the Seller’s CP, answers to any follow-
up questions that we may have or ask concerning the Seller, information about Seller's recent past performance delivering products, some evidence of their
financial capability or standing in the business, etc.
2) ROD shall have, by now, also have ascertained (from the Questionnaire you submitted and sources) other vital information about the buyer's (or Seller's)
own desires - what they themselves need or are looking for, their own requirements, their own terms and procedures for purchasing (or selling) products,
and the like.
3) If this buyer (or seller) proves cooperative in providing us the necessary DD information required and working together with us, and meets our
qualification standards as to be considered a CREDIBLE, genuine, able, and realistic buyer (or seller), thereafter we send them a product offer for a
VERIFIED & SAFE Supplier that we have on our ADL (Approved Dealers List). This offer will spell out to the buyer what we currently have available and can
offer, if any (the terms of the offer, the delivery method, the prices, discount, commission, etc), as well as the procedures for doing the deal (product could
be from a refinery, or from a reseller, or other supplier sources).
4) If the buyer (or seller) accepts to do that offer as a workable one for it, then at that point they (as well as any intermediaries involved) will have to enter with
ROD into a signed NCND agreement and a commitment to pay a commission that will cover ALL intermediaries and brokers that may be legitimately
involved in doing the deal
5) Thereafter, we will require that the buyer submits an ICPO (or LOI) for the offer (that is, based on those terms and procedures), and we will then disclose
the Supplier and the details to them. (They will, of course, have all the opportunity they need at this time to do their own DD and inquiry, as they may wish).
6) Upon our submission of the Buyer’s ICPO to the Seller (or the Seller's bona fides to the Buyer, as the case may be), the intermediary (when an
intermediary is involved in a deal, and depending on the particular circumstances) will, at this point, have to do a “step back” and allow ROD experts to deal
with the Buyer and Seller for and on his/her behalf. The intermediary will be covered by ROD, and his/her rightful entitlements to get updates and to get
commission fully protected and honored as the parties have already signed a tough NCND. (See our full procedures & policy for working with brokers here:
7) ROD personnel will expertly coordinate, guide, and manage the deal with the seller and buyer, to its successful closing and pay out of compensation to all
rightful intermediaries involved.
STEP EIGHT: HOW YOU CAN WORK WITH US, IF YOU'RE A QUALIFIED BROKER, AGENT OR
INTERMEDIARY IN A DEAL
Our Broker Policy
As part of our sales policy, The Reliable Oil Deals only deals directly
with current or potential end-buyers or Sellers. Only the end-buyers or
end-sellers (their authorized senior officers or directors) can apply to
become a Qualified Buyer or Seller, and we will not accept applications
from brokers, intermediaries or traders who lack any proven track
record, to become Qualified Buyers or Sellers.
In general, Internet brokers, agents or intermediaries who only provide us purported “buyers” or “sellers” who are UNVERIFIED and
UNVETTED, will be regarded as nothing but merely Joker Brokers and will be disregarded. However, we will work with the ABLE and
INFORMED seller-side-and-buyer-side brokers or intermediaries. Offers or requests for credible buyers or sellers presented to us
by ABLE or INFORMED Brokers or intermediaries by email or via the website, will be duly considered, PROVIDING, however, that the
offers/requests they submit are already vetted by them, and can be duly verified by ROD under our prescribed standard of
verification. That means that the sourcing broker/intermediary who brings us the product offer/inquiry, should be prepared, ready,
able, and in a position, to provide the buyer’s/seller’s requisite CP (Corporate Profile) and other data and information, and to provide
answers to relevant questions, that will enable doing a good DD on the buyer/seller and their credentials. Buyers or sellers who wish to
have a particular representative or “mandate” handle or represent their affairs, should provide such parties a verifiable Mandate Letter
formally appointing and authorizing them to act on behalf of such buyers or sellers. The appointed representative (or the Trader itself)
should then provide a copy of the appointment letter (which must be readily verifiable) to ROD.
If you are an intermediary that can provide verified and verifiable buyer or seller, we will, of course, be willing and ready to enter into a
solid NON-CIRCUMVENTION, NON-DISCLOSURE AGREEMENT (NCNDA) with you, and/or an IRREVOCABLE MASTER FEE
PROTECTION AGREEMENT [IMFPA], when warranted.
APPROVED INTERMEDIARIES WORKING WITH US ON A DEAL MUST BE PREPARED FOR A "STEP BACK"
Summary of ROD's General Principles of Working With Brokers
1) In our system at ROD, we do the work of, and for, you if you are an intermediary. The intermediary DOES NOT ever participate in, or
get involved in, the actual detailed negotiations of a transaction. The reason? It's simple: First, from studies and in our own long
experience at ROD, we know that that’s just about the ONLY way deals can often be actually closed and any commissions at all
become possible and actually received by the brokers or anybody!
2) We will entertain NO long chain of too many brokers. Not at all! Why? Because long broker chains are frequently the easiest and
fastest way that kills deals outright!
3) Broker involved must accept and commit to a "step back" arrangement. In our system, upon a common agreement, broker chains
themselves voluntarily see the need for, and do voluntarily do, a ‘step back,’ and we cover and carry them and their vital interests. And
only the REAL Buyer, REAL Seller and/or their respective Mandates, working through our expert team of negotiators, will interact,
negotiate the deal, and expertly execute and guide the deal hopefully to a successful end.
A principal reason why the sourcing brokers can't, and shouldn't, be allowed to get involved in dealing with that, being that it's a well-
established and settled factual matter that most such sourcing brokers of the Internet world today, are practically only "junk paper
shufflers," pure and simple, who merely pass around standard Joker Broker "offers" and "documents" (most of which are typically
unverified and/or fake), and are largely untrained, unschooled, uninformed, and inexperienced in the business, and lack any
knowledge or expertise in the real and real world ins and outs of international commodities trading and practices. (Though many of
them don't seem to know even that!)
So, the bottom line is: If you are an “intermediary” of whatever name (“Buyer” or "seller," or a "Broker," “Mandate” or
“Agent/Facilitator” of one), that’s just fine with us. We at the ROD Group fully understand the vital need for intermediaries. And we very
much value their service, their worth, and their merit to be adequately compensated. Only just make sure, however, that you're NOT
just merely a Joker Broker time-waster or day dreamer who really has nothing to offer because YOU do NOT first do your proper job
and homework - which is to have, FIRST, fully verified and vetted your buyer (or seller) before you bring them to us. And if you have
done just that, then you DON’T ever have to worry about being “circumvented” or not getting your fair share o the commission to which
you’re entitled from a transaction, should it close. That’s all worked squarely into our system. We make absolutely certain you get
paid the commission share to which you’re legitimately entitled, not a single penny less. And, what is most, most important
with us: we keep our WORD -- ALWAYS. Under any and all circumstances..
For OUR BROKER "COMMISSION" POLICY, please click: HERE
THE ULTIMATE RESULTS, USING OUR SYSTEM
In using the PROPER & CORRECT RULES and PROCEDURES, WE CLOSE DEALS, HOWEVER. WE FIND GENUINE
Our system is, however, designed to make sure that we don’t lose an otherwise promising deal that could possibly have been closed
just because the intermediary chains involved could not come to a common, REASONABLE agreement on "commissions" that never
really were, to begin with, because there never was a deal had, done or closed, or just because they refuse to provide the critical
documents at the right time, or insist on having ALL intermediaries on an 8-brokers deep chain placed on a ludicrous IMFPA, NCND
document madness, and matters like that. What we're most concerned with, first and foremost, is with getting a deal done &
closed ! And that's what our system and our way of sticking to use of the proper and correct rules and procedures, and doing
proper DD, nets us the most - we get deals closed, we find REAL & AUTHENTIC buyers and sellers, and we get paid plenty
For you to have any commission at all to "share" in, you MUST have a deal that closes, FIRST.
GET THIS: Always bear this in mind. As we say in this business, a FULL 100% of ZERO DEAL or of NO DEAL to you, is absolutely
ZERO "COMMISSION" for you, any way -- i.e., .$$00000000 amount as your 'commission share,' right !?
|Start Verifying Your Trade Offers Now..... Doing Your Due Diligence.....
- Or For Ever Starve, for there is NO Short Cut in this Business!!
- Or, For Ever Close No Deals!
- Or, For Ever Earn ZERO - Yes, Zilch - In Commissions!
- Here, the Home for Actually Doing DUE DILIGENCE in Petroleum Trades
- THE RESULT? You Begin to Find Again REAL & AUTHENTIC Suppliers
- No More Fake & Scam Suppliers or Buyers! NO more Joker Broker Procedures!
WHAT DO YOU NEED TO DO? HERE IT IS.........
TO GET STARTED: Start from 'THIRD STEP' above.
- Start verifying, henceforth, your deals and offers & start using the CORRECT RULES and PROCEDURES!
- .Quit the Joker Broker Ways!
- RESULTS? You'd Start Closing Deals, You start making some commissions
|NO, No, Still More to VERIFY!
VERIFIED? FOR SURE?
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Standards, Rules & Procedures, Are Practiced -
NOT the Joker Broker Ways of the New Age
Internet Broker World!
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|TO CONTACT ROD TO REQUEST THE QUESTIONNAIRE (or, otherwise, to
commence action on an offer or product, or related trade matters),
PLEASE MAKE YOUR INITIAL CONTACT HERE. Click here TO CONTACT US
|Life of Reliability, Honesty, Integrity
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NO JOKER BROKER METHODS
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