Trade Group employs a very strict “Know Your Client” (KYC) protocol before we represent a new customer. This allows us to assume the legal responsibility of issuing necessary legal and enforceable documents such as; Evidence of Fuel, Evidence of Funds, Evidence of Storage, in accordance with US and International regulations for the Purchase/Sale of any fuels by way of RFQ/ICPO/Offer Sheet/Contract(s)/Company Profile(s) or Commercial Invoice.
Prior to any of the above legal documents being issued to our company, it is the responsibility of the sending party to have confirmed the documents if being issued from a third party i.e. from a /Seller/Buyer/ Trader/Broker/Company or Individual claiming to represent the names/companies/banks on those documents or, claiming to be the Buyer/Seller of the product and issuing documents to support their ability to Purchase or Selling the fuel.
If not, then being the issuing party you/they will be held responsible for any legal/private/personal action being taken by the names stated on those documents, Trade Group will place your name along with the accused as acting parties to obtain Fuel/Products/Suppliers information by deception and fraud to all government and legal enforcement in efforts to take legal action against the parties.
Our KYC package addresses the concept of complete Due Diligence of a buyer or seller including enhanced (Federal) and simplified (Local) due-diligence. These have separate interfacing and KYC packages for each of the following types of client:
In order to engage properly all new clients must follow the below process.
Formal requst and competition of KYC packets
Mutual Back Ground Due-diligence
Agreement Draft, Contract Filling and Reporting.