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ftn exporting intermediary FYBR doctrine 2012
© FTN EXPORTING
Expert Opinions,Education and Analytical Services
Davide Giovanni Papa
Author , International Trade Law and Agency Expert
© FTN Exporting: ARBN:B2144654K
AGI: Education Division Buyers/Sellers: ARBN:B2043651G
P.O Box 468 Carlton North 3054 Melbourne, Australia
E-MAIL General: Davide_ftnexporting@yahoo.com.au
E-MAIL Private: ftnexportingceo@bigpond.com
www.smice.net www.ftnexporting.com
The World is Yours (TWIY) and Follow the Yellow Brick Road (FYBR) Publications
Presents
WTMW ‘SI’
Welcome to My World
The Sourcing intermediary
Release date March 2012
Author’s personal master works - Unedited Beta Copy -
TWIY , FYBR is now updated to 'WTMW'
Uniform Rules and Practise for Intermediaries and Brokers.
Importing Exporting for Intermediaries
URPIB logo may be used by purchaser when signing off when trading
and may add after their signature after study is completed
Buyer and Seller of Commodities Adhering to FTN Exporting (URPIB) Universal Rules of Trade
(Uniform Rules and Practice for Intermediaries and Brokers)
Importing Exporting for Intermediaries
URPIB logo may be used by purchaser when signing off when trading
and may add after their signature after study is completed
Buyer and Seller of Commodities Adhering to FTN Exporting (URPIB) Universal Rules of Trade
(Uniform Rules and Practice for Intermediaries and Brokers)
Latest update : March 2012
No other base study publication needed- Beta Edition.
BETA: Small mistakes in grammar/spelling may be evident not effecting the personal advice given as corrections are ongoing at any given time
This publication can only be purchased from FTN Exporting Australia from the author of ITSI, FYBR and TWIY.
‘ WTMW ’ is now presented as the first major rework of the basic classic intermediary doctrine as created by FTN Exporting 2005. It is an illegal act to copy, duplicate or advise this publication to anyone else world wide. This publication is personally sold to a named entity for personal self study use only. © FTN Exporting Australia 2012.
BETA: Small mistakes in grammar/spelling may be evident not effecting the personal advice given as corrections are ongoing at any given time
This publication can only be purchased from FTN Exporting Australia from the author of ITSI, FYBR and TWIY.
‘ WTMW ’ is now presented as the first major rework of the basic classic intermediary doctrine as created by FTN Exporting 2005. It is an illegal act to copy, duplicate or advise this publication to anyone else world wide. This publication is personally sold to a named entity for personal self study use only. © FTN Exporting Australia 2012.
Personal opinions of the Author is given as a means of forcefully educate others and is done so without prejudice.
All information provided to personally named applicant as apparent on this publication and information in such, is private and confidential including contact advice -
This publication was purchased for private personal use by;
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REFERENCE FTN Exporting
TWIY I, II, II , then “Follow The Yellow Brick Road I,II,III,IV, V,VI ,VII, VIII, IX,X, XI and “V 2 GOLD ” parts of such works, have all be added to to arrive at Si publication status in 2012.
Special attention also given to USA Intermediaries all FTN publications.
The Art and Science Applicable to the Activity of the Import Export Intermediary
CONFIDENTIAL INFORMATION:
NO CALLS TAKEN WITHOUT APPOINTMENT VIA E-MAIL:
Author: Intermediary Expert
Davide Giovanni Papa (aka David Papa)
ALL MAIL Deliveries/Contracts:
David Papa C/o FTN exporting Po Box 468 Carlton Nth
Melbourne Victoria Australia
Private Lines : (WITH HELD)
Founder: FTN Exporting
(FTN: Foreign Trade Negotiators 1988)
First registered as a Business entity 1988
Current Australian Business Number:
AGI: Education Division: Buyers/Sellers ABN:B2043651G
Reference to Expertise:
Commenced Trading 1988.
Studies Certificate I : International Trade- Melbourne Australia.1994/1996
Published SI/TWIY First Edition online line sales 2005
Creator of URPIB rules for intermediaries (www.ftnexporting.com)
Davide G. A. Papa is world leading Intermediary Expert
on “www.allexperts.com” since 2001 (USA)
(Go to Industry, Maritime, then Distribution of Products)
Melbourne Age Newspaper
“Sunday Herald Sun June 5th 1994” Personal Finance Section- Sugar sales
Old site: www.exportexpert.freesevers.com
Creator of the first intermediary exchange www.smice.net 2008
Copyright- ftnexporting@yahoo.com
1998- 2000/2011/ 2012 Melbourne Australia
INTRODUCTION.
All past FTN Exporting ‘in-house’ private publications have the basic trading structure apparent. 'WTMW Si' is about simplifying and reducing the huge amount of information provided in past publications, in where more matters about the activities of the sourcing intermediary now applies. Si also updates the FYBR publication in a rewrite in where intermediary trading issues apparent from 2010 onwards are being addressed- especially more recent questions often asked by those who are applying the doctrine fully.
Those who have purchased our formally published works 'International Trade and the Successful Intermediary (ITSI) from U.K publisher, Gowers /Ashgate ,'WTMW' breaks down the formally applied structure to its simplest premise.
Some parts of all FYBR editions have been meshed with ideals of Si-1 to produce different perspective to the original doctrine. As FYBR fades away, 'WTMW Si' will become the new standard doctrine for the next decade ahead, in where the global economic climate is changing ever so quickly year upon year.
5000 cargo ships ply the open seas today. By 2020 this number will double, hence the future said trading potential starting from 2012 is identified. The applicant has a few years to study and perfect the doctrine before trading as a professional intermediary indeed becomes ‘heavy duty.’
End buyers will needs such service as will busy suppliers.
It all starts with abilities pertaining to sourcing suppliers, and later end buyers. You, the intermediary starts at such a level. Your aim ? Is to become a Private Independent Agent (PIA) as quick as possible.
Specifically you (PIA) is learning and practicing to hold position as the Buyer and Seller of commodities acting on behalf a of undisclosed principals. That’s your aim. The second option if you can’t or won’t hold position as buyer /seller due to lack of confidence, but have great skills at sourcing, is to attempt attachment yourself to an informed URPIB Buyer/Seller, although this option is very limited as its at the discretion of the informed Buyer/Seller to accpet your attachment in where you work to source products for such ,in return such protects your commission and who then attempts to close deals that you have assisted to source, in a unified and protected trading group.
So we have clarity on your goal from the start. You will become a seller of commodities to the end buyer and buyer of the same commodities, from a supplier. You are going to learn to hold such position by using the funds of the end buyer to buy goods from a supplier you have sourced and to do so in a safe and legally acceptable manner.
Have you got all that!
How?
By studying and applying slowly the matters defined in this effective doctrine.
Those who were hesitant to purchase and study FYBR as being too complex, with too many pages taking a long time to study and read, may now consider purchasing the lesser expensive current and easier to comprehend ‘Si-1’ publication. Those who have found ‘ITSI’ as being too formally applied, Si will break down to a simpler understanding advice not understood prior.
Everyone must learn to eventually become a buyer / seller. The simplest way to arrive at such a status is to practice the doctrine a while acting as a sourcing intermediary. With these new Si modules, we’ve now have elaborated upon intently the matters a sourcing intermediary will need to practice without added distractions.
What is and example of a “distraction.”
i.e We’ve stated that all business must be applied in writing.
But you ask?
“What ! I can’t speak with the supplier over the phone.”
No! You can’t . Not when starting a deal. Once a deal gets to contract signing stage, talk all you like. At the very least get the ‘offer to procure’ out and accepted first .
Why?
Where do I start.
I’ve seen people go broke in this business will monthly fax/phone bill exceeding $14000.00 per month- is one issue.
(1) Deals takes up to 3 months just to close. That’s a lot of calls.
(2) Everything by e-mail until contract time; then talk all you like.
(3) If you use the phone, then expect offers and information to be made verbally and as such, it’s useless information that has been secured. It will not defend you when / if problems arise in the deal later, and you don’t have the required ‘ostensible authority’ ( more Later) to act as seller of such goods.
(4) And how will it look when talking on the phone , a question is asked which you should have had an answer to , but just have forgotten at that time.
We are defining such matters in relation to talking with end buyers or suppliers.Talk all you like with intermediaires assisiting you.
And there is more.
I think you get my drift.
So when I state 'all matters start off in writing and all replies must be in writing' such is not a trivial statement and will often have a very good reason to apply. I say as much because I have not explained the matters above to other issues, thus saving many pages in having to explain such matters fully, thus not adding to ‘distract’ your main focus of application. You assume such matters when stated must be applied for good reason in where only more pressing and much more important matters are explained.
That’s the difference between this WTMW publication and all others. We have expanded upon the starting application leaving out matters of lesser importance. You need to start trading as soon as possible/practical.We offer such quicker learning attributes because we have reduced your study time with this publication.
We also get up to a 100 e-mails per day and the phone constantly ringing which we do not answer without vetting, from ill informed intermediares who think that they have ‘hot deals’ when in fact they have nothing.Supplier won’t ring you nor will end buyers until a contract is in play. You have to get an offer to buy or sell in front of an appropriate principal, and most (95%)intermediares we have come across in 25 year are dreaming and have nothing to offer. You want to talk all day on the phone or do you want to start trading ? You can’t even start to control any deal if at first you can’t control time wasting attributes of ill informed intermediaries-
The ‘apprentice’ will need to address and learn matters of sourcing products and getting started in this business first, while they strive to become a buyer seller of exportable commodities for gains. FYBR and ITSI had dismissed the sourcing attributes and concentrated more on the activities buyer/seller status in where the sourcing intermediary (Si) now applies the opposite premise. We require that the intermediary now concentrates on matters of ‘sourcing’ more intently, as a matter of practice, before changing status to a buyer seller. This means, you only answer ill informed inquiries from equally ill informed intermediaries for purpose of learning for a few months then that’s it. Learning what? Learning how to make offers and learning how to identify fake deal within 30 seconds flat. You start to become strict with procedures and as you become informed as you’ll start interacting only with those who have potential to assist you sourcing end buyers/suppliers in where you head and control the deal with such assisting you, as the buyer /seller controlling the deal and protecting commission payments for those under your protective care.
Your job is to learn how to buy goods from a supplier hence you are the ‘buyer’ and learn how to sell such goods to a sourced end buyers as ‘seller’ using the funds of the end buyer in a legally defined way to do so from a corporate office or home.There is no other way to secure commissions and gains effectively for yourself and those you are protecting while assisting you.
Previously too many study applicants rushed to take up the seller /buyer status far too quickly , in some cases, weeks after reading FYBR, which is simply an unacceptable way to learn anything intently. Only personally mentored FTN agents have such capabilities. Si will force the professional independent intermediary to spend more time practising to trade at the sourcing level, thus ensuring such are indeed informed once they start enacting upon the role of buyer/seller. No point in by-passing the basics, to go on and study more complex situations- as such, Si-1 now actually provides recommended matters of time factors that we strongly advise intermediaries to apply.
Below defines a few opening pages in part defining FYBR V to X
Lets get the matter out of the way about who Davide Giovanni Papa is and the role of FTN Exporting plays in the nature of business defined.
FTN exporting started to officially trade as an intermediary in 1988, even though it casually dabbled in such deals in from 1985. In 1994 after a major editorial about the activities of FTN regarding a sugar deal and other matters were exposed in a major newspaper, (*Sunday Herald Sun June 5th 1994 Page 111 Personal Finance Section, Melbourne, Australia) a barrage of intermediaries ever since have been desperately seeking the much sought after trading advice as prescribed in these works.
If one does not know such procedures intimately covering a wide area of applications within the macro environment of the traders’ field of play, then one is simply fooling themselves and are best described as wasting their time in attempting to close such type of deals. The Author makes an assumption when declaring that 98 percent of the millions of traders on the Internet today don't know how to close a deal from start to finish. (Test such an assumption out later after reading the doctrine intently.) Ask a question or two from those who approach you. Ask such a question to a banker or lawyer as well. You’ll soon see what we mean when we say '*98 percent.'
(*with the doctrine out there for a good 6 years, it’s now probably gone down to around 95% today, albeit lets stick to the guiding assumptions offered)
Most don’t even know how to start a deal correctly, let alone attempt to bring such a deal to a final conclusion. Such an assumption is drawn from the fact that from every 98 offers and the likes from every 100 advised to FTN Exporting by outsiders especially in the last 12 years, have all ended up in the trash as being inappropriate and unworkable. Some have tried bluffing there way, by reading matters already advised on our sites before connecting us- but as often happens, they soon get caught out. The whole doctrine has to be studied and read in order intently. Excerpts of the doctrine as found available on the net will not deliver the attributes of the whole doctrine needed. We’ve answered around a 1000 questions on only intermediary trading matters via USA site allexperts.com since 2001 as to further prove that we have also been on the net for a long time. Even there you will not find te required trading structure needed to learn this business effectively. It’s very difficult to conduct business as a true professional international trade intermediary, at least if you are going to attempt such business applications, you should do so using effective workable procedures
What is an “ill informed” intermediary .
(a) One who has studied our works but has failed to apply its virtues.
(b) An outsider. One who has never studied our works and are is trading using other flawed methods. We’ve created the first uniform, safe legally defined Intermediary doctrine, hence only one of two said options may assume to prevail.
Anyone entangled with the nature of business being plied with such ill informed intermediaries will also certainly never close a deal or ever see a cent in commissions no matter how long they trade with such misguided entities. Scoring a deal as a matter of blind luck does not count, all because a relative of some misguided trader, as sometimes happens, is the owner of a factory producing exportable products as Intermediaries do not have such family connections backing their trading misadventures into a successful deal.
The said sugar deal collapsed into a legal nightmare 2 weeks after the newpaper article was printed but as far as everyone else was concerned FTN Exporting had made huge personal gains from such deal accordingly, the need to teach others eventuated by accident because FTN Exporting felt that Intermediaries needed to know what happened and how to void being caught in the same situation. More in depth International trade studies were taken at a local college to find out among other things what went wrong with such a deal. Technically the Sugar deal had closed as correctly reported by the then Dunn and Bradstreet journalist. After trading for nearly 6 years we had finally snared the “big one” using near similar, but less advanced procedures as advised in these works. My mistakes while trading will not be yours. 5 years will not be needed to at least grasp a major part of the doctrine which will come quickly to those willing to learn and master the doctrine from the start . The rest is about gaining experience- It’s got nothing to do with how much other have made or ftn exporitng has made in this business. All because one person closed a deal and made great gains , does not means everyone learning this doctrine will do the same. Anyone who makes any claims that they will become successful in this business simply by studying any doctrine is not being honest. Personal attributes also pay a roles. Frankly speaking , many who have approached us and have already purchased our docrine or ITSI do not have the required personal attributes to become a professional intermediary. We can show you what you need to do. We can show you the ropes. We can teach you the required intermediary trade application. The end result is simply inferred. From the vast numbers learning this business some will remain as having potential to become attached to an informed URPIB buyer/seller as a sourcing intermediary, and the least numbers will have the required knowledge and skill to become a buyer / seller in their own right. One thing is for sure not learning the only effective viable intermediary trading application means that your chances to earn commission in this business is literally zero. It’s alway been like this from the first day FTN started to trade.
My name is Davide Papa- Now that you’ve met me, lets get stuck into the doctrine.
Lets fast track the study to matters apparent up to the year 2012.
PREAMBLE : The Sourcing Intermediary (Si) 2012
Don't worry if matters of the these opening pages don’t make sense, such matters will be explained fully later when you commence studying the actual doctrine. I’m intentionally disclosing the whole trading deal in a nutshell, so you know exactly what is going on, and what is expected to apply to anyone wanting to try learning how to become a professional commodity trader and informed intermediary.
All editions of FYBR have been replace with Si from 2012. The Si publications are simple study modules as created by the author Davide Papa, made for export import intermediaries, brokers, agents, corporation as well as suppliers and end buyers. Bankers should also be studying such matters as the advice given by some, to intermediaries have been advised incorrectly. Si goes back to the grass roots of trading as an import export intermediary, especially on how to commence trading. There is a need to do as much. Si modules have not been edited nor proof read, as the author wanted the fullest possible application to apply a per his own words.
Lets have a quick run down about the law. Common law legal systems are in use world wide, particularly in England where it originated in the Middle Ages and in nations or regions that trace their legal heritage to England as past colonies of the British Empire. The United States, Singapore, Bangladesh, Pakistan, Barbados, Malaysia, Sri Lanka, India, Ghana, Cameroon, Canada, Ireland, New Zealand, South Africa, Zimbabwe, Hong Kong, and Australia currently use legal systems built upon English law principals. Some laws may differ in such legal systems in interpretation of such when compared with English law; the principles of administering such law don’t.
The remaining countries follow an admixture of common law principals, religious laws and or the civil code sometime called European law. Some countries use Common Law principles or reference of such from a bordering country - I.e China via Hong Kong.
The good thing about English legal system is that, amongst other things ; no matter the country, most if not all are able to use in part or fully, contract formation attributes, applicable to matters of International trade as provided under English law. Many contributions to international trade laws came from the misadventures of English exporters dating back a very long time, as the borrowed from ancient Roman laws associated with commerce and beyond. How far beyond ?
English law traces back it genesis to the biblical times of Moses.Yes! Moses!
Very few academics know that around a 1000 year ago , (King) Alfred the Great produced a set of laws the basis of which formed common law attributes of England today . Alfred the ‘Great’ law maker used the basis of his laws, as borrowed directly from the Ten Commandments, the same Ten Commandments as ostensibly produced by Moses. So common law principles emanated from religious dogma.
Add to mix English merchant law of the sea, of sea battles lost and won, and the ability to insure good via the creation of Lloyds of London, one soon comes to the realisation on the reason why in the past, it was often heard said that ‘Britannia rules the seas.’
The other country in an era gone by with major influence on the way we do business today as it relates to banking , bonds and financial instruments comes for Italy ( Read more on : Merchant of Venice, Nathan Rothschild..etc) and later USA via the brilliance of it own localised use of interstate UCC rules of commerce (united commercial code)
To say that over half of the world applies common law principles fully or impart is not and understatement. To say that the worlds biggest exporters China, India and USA lead the way in the use of such similar laws is also not an understatement.
The binding factor in all countries is that International trade laws, banking rules and delivery rules applied or could be applied to interact with 95% of countries now gives clear insight that the FTN doctrine is indeed formidable, as the very same rules and laws available for use by exporters and importers today are the very same laws and rules that the intermediary needs to ply as well but in a different manner. Accordingly like all FTN Exporting published procedures , English common law and foreign governance of such applies to give direct support to the nature of business applicable to the International trade Intermediary as it relates to uniform procedures, strict and safe procedures and more importantly legally effective procedures. If one is going to attempt to trade in exportable goods around the world as sourcing intermediary , then the most superior, strictly applied legally effective doctrine is being offered.
Internal laws and rules of a particular country like lets say Brazil or USA can’t be used once goods are delivered. They can be used only up to the point before delivery eventuates- from then on, when goods are finally loaded on board ship. It can be best said that International trade laws take over and in where sovereignty of the ships ‘flag’ take precedence once the ship leaves the jurisdiction of territorial waters. Yet with this advice firmly given in all publications since 2005, for all the information FTN exporting has provided on the net over the years we still often have ill informed importers and exporters, some real some fake who will attempt to use local laws for interpretation and use in international trade dealings. Badly informed Intermediaries are the main culprits of applying local commercial practices of once country into the international arena. We’ve all seen those pathetic unworkable and flawed LOI, BCL, ICPO type of dealings.
Having said all of the above it has become apparent that since the first time release of the doctrine in 2005; that whilst this first ever uniform doctrine is being studied my many intermediaries , so many end buyer and suppliers who are meant to enact business within a set of long established guiding rules or and laws fail to do so. Intermediaries get the blame for may failed deals as 99.9 percent of such traders before this doctrine came along have been trading incorrectly and in a flawed unworkable manner but; many end buyers and suppliers have the very same ill informed status applying to them. So the term ‘trader’ means anyone involved in the nature of business being applied.
Even while writing this doctrine in 2012, an internet report stating that many end buyers and suppliers still don’t know how to interpret for uses Incoterms delivery rules as released in 2010. Banks giving wrong advise to exporters and importers in matters of UCP600 banking rules are also ongoing common complaints.
In one only legal publication that FTN seeks reference upon at times, there are over 1000 court cases recorded where suppliers dealing with end buyers , failed to follow rules and laws of international trade only to find themselves in some very costly legal action. If I search the net, there is a perpetual flow of information on such court cases. So assume that employing a non informed and usually very expensive lawyer does not mean that one will not end up in court. Getting an informed PACT Agent or URPIB lawyer involved will lead to a different positive outcome. It’s not good enough to tenure only a international trade lawyer, as they specialise in matters of contract as it pertains to direct importers and exporters rather than intermediaries. What’s left?
An intermediary must become informed and the best way to become informed about their business and the interests in such is to personally 'learn the ropes.' Home based Intermediaries , Bankers , Lawyers and the likes can now do as much with the FTN exporting created doctrine.
All serious trading issues that our doctrine avoids ‘has caught out some really big fish.’ The Intermediary must at all time protect its own fragile and precarious trading position in that ;
The informed intermediary avoids court appearances.
The intermediary avoids being charged for fraud or deceptive conduct.
The intermediary secures its own commission without fear of circumvention.
The intermediary avoid being sued/ avoids consequences and loss.
The intermediary does not out lay their own money when they trade.
The intermediary intently looks after the interests of those they enact with.
The intermediary does not get caught by scam artists and fake offers.
The intermediary is an honourable trader at all times.
The intermediary is informed , skilled and knowledgeable in procedures.
The intermediary also protects the interests of the exporter and importer.
The intermediary applies the doctrine as a strict matter of compliance.
The intermediary is able to collect earned commission safely and legally
The Informed intermediary avoids being circumvented.
Above edicts are why a uniform intermediary doctrine is (was) badly needed, a doctrine that is legally and effectively defined that must be used by anyone attempting to trade in the nature of business defined. There are no shorts cuts. There are no added considerations for flawed dealings. I kid you not when stating there are no easy solutions. We cannot deal in every aspect of business but a very specific part of such. And yes! The doctrine is strict and must be strictly applied especially when a complex doctrine has been reduced and simplified to its core principles.
The legal opinions FTN had served to U.K lawyers and others in defense intermediaries in big trouble since 2010 now also further reinforces that the intermediary doctrine must be strictly observed. I make no qualms that this is a ‘dog eat dog’ business. I make no qualms about informing the potential intermediary that they are attempting to trade in a very complex business application, probably one of the most complex applications on the planet. If an intermediary is not seriously trying to apply the doctrine to the best of their abilities-no matter the failures encountered , if the intermediary is not prepared to mix it with the big corporations, don’t bother studying this doctrine. Best you remain trading as you have been, because without real study effort and intent as applied over the longer term, you’ll never test your potential to close such a deal, in where; a person using flawed applications often reveals itself eventually of defining a person in pursuit of a useless endeavour .
No body has argued the merits of the doctrine. There is nothing to argue about. The doctrine is backed up by strong rules and laws and by the very people who are International trade experts in their own right. Many Bankers, Lawyers, Barristers and many very clever home based intermediaries from all around the world have purchased and praised the doctrine intently from day one. The Doctrine has been tested for soundness by more superior minds than ours over a very long period of time. It was not an easy task to release a publication that went against the norm. I expected arguments left , right and centre when I first released the doctrine in 2005 but I was confident and ready for a fight, no matter who they were. Non eventuated,instead many compliments followed.
The doctrine offered is for independent intermediaries and all traders to use by those who are attempting to close a deals in the import export business for gains in a strict, legally effective and very safe manner. It’s not our business that the traders, suppliers and end buyers we come across don’t know how to conduct safe business professionally within the acceptable bounds and rules of trade. The best an informed intermediaries can do is to secure goods from a supplier while offering valuable advice. The best an informed intermediaries can do is to advise and guide end buyer on matters of safe trading. We can do as much to show our worth, while trying to close deals for gains, because unlike so many others, we are informed sourcing intermediaries, training to become Buyers and Seller of commodities in our own right, one day. We must not stray from the doctrine. For all the frustrations, for all the attitude and ill conceived trading procedures and silly demands we‘ll come across - we must not stray from the doctrine. If I did not make this matter abundantly clear in the past publications, then I now intently do so.
We must not stray from the doctrine.
We enter into a trade using strict safe procedures, because to actually close a deal which collapses in any other manner, will deliver a nightmarish situation or even prison, for a person who simply wanted to do business as a import export intermediary with good intent.
The SI publication will be the last final publication of its kind and will be refreshed once only every year. If rules of delivery change or laws are invoked changing important matters of the doctrine, such changes will be offered freely to study applicants of ‘Si-1’ (and modules) on ftn exporting.com site page as established, if such changes become apparent only; accordingly this publication is said to be 99% effective and sound. Please keep sighting the FTN site every few months to see if any official important worthy updates are apparent to Si-1. Also please take notice of FAQ posting on smice.net occasionally so that any added information offered at times might also be effectively used by a informed Sourcing Intermediary (SI).
You are an informed intermediary because you have made effort to study the doctrine. You offer a service to busy end buyers or suppliers therefore you have worth not just in creating sales but guiding an deal safely for all involved. It cost a small fortune every time a importer or exporter uses other to guide their dealings. Hence you service with those who are prepared to make offers to you is valuable.
If you have remained focused as a sourcing intermediary trading at FOB delivery of non break bulk goods for 12 months or more, then you may commence to practice and study variable advance trading applications and not before. We have removed all matters of advance trading advice and remain solely fixed on the basic platform of the doctrine, for the first year of a SI actively trading. We suggest that you keep away for Container deals - A $20,000 dollar continer full of whatever will earn you very little and are just as hard to close , perhaps even worse than attempting to close a 50 million dollar deals- Why waste your engery? Small buyers count their ‘pennies’ intently, where as corporate buyers don’t flinch on large deals.
( SI defines the acronym ‘sourcing intermediary.’)
Those who want to continue to learn this business ‘beyond the basic structure’ may seek to purchase added modules as specified further. If you land a FOB deal in the first year or more ,then the chances to close such are excellent. The advice offered in Si-1 is now made clearly apparent. The FOB structure, leads to all other delivery applications and once well learned allows an easier step to prevail in being able to conduct more complex delivery applications and business practices- once the basic trading structure has been fully learned. If you are going to trade as a export import sourcing intermediary with a scope to become a buyer seller outright this publication is for you.
No matter if DLC and delivery rules change, the premise of the doctrine will remain valid for many decades. Around 98% percent of all many intermediaries on the net have no idea what they are doing. They have created damage amongst themselves and havoc with their stupidly applied and ill informed flawed approaches made to many good suppliers and end buyers going back many decades. These facts have added in making our work harder. It will be very difficult and it will be hard to secure suppliers and end buyers much more now than 25 years ago, has become apparent in 2012 and it will take a bit more time for most suppliers (and end buyers) to wake up and realise that a new breed of professional intermediaries are now apparent increasing yearly, thanks to the FTN doctrine. We are getting there but its been a mammoth job to date.
We don’t want to hear excuses that it’s hard to secure real suppliers. Most of our agents ‘learning the ropes’ with some or little support form FTN exporting have continually kept the smice .net board full of suppliers. So real suppliers can be secured with real effort using the attributes of the doctrine. Getting supply first as it will be explained in detail later , is still the most crucial part of the whole process. We don’t want to hear excuses that end buyers are asking for this or that - we can only work within the realm of the doctrine. There is no ‘suppliers or end buyers’ list and nobody is going to give you their hard sourced details of a potential end buyer of supplier unless there is a very good reason to do so.
You are chasing one FOB non break cargo deal- that’s your first aim. It will mean swimming through a whole lot of muck, hence you may as well treat such muck as being valuable only to you. Valuable in the sense that trading through such muck offers you a water logged playing field and training ground. A place to practice your skills and knowledge.
We envisage that 2012 onwards is going to be a big years for those who have continually studied and plied the works from 2009. If you are going to attempt to do business in this field of practice , then do so as a informed intermediary. Learn , study and practice for years, until one day that one deal falls upon your lap, and you’ll know what to do You are chasing millions in gains- Such gains will be in the reach of an informed intermediary, but its not going to come easy, not by any standard.
Your are not buying or selling real estate. You are not placing bets on race horses to make profit. You are not a stock broker or insurance broker representing a ‘principal.’ Intermediaries chase gains. A gain as made by real effort and skill. The term ‘procure’ aptly exemplifies this ideal.
In this all new ‘Si’ publication set , the doctrine and supporting advice is offered as well as advice on what problems intermediaries have encountered while mostly trading from 2010 onwards.
The Si sets as offered are best defined as follows .
WTMW : Si -1 Has the basic trading structure for all acceptable commodities including fuel and crude oil, but deals mostly with matters of mainstream type of non break cargo and container trade. If you are going to deal in crude and fuels often, then more information about such products needs to be advised, hence Si-3 needs to becomes attached to the Si-1 doctrine. All products must apply element of the Si-1 doctrine. All deals are traded as per the advice offered in the doctrine. The same way you need to ply offers of Sugar , Cement , Urea, may still apply for occasional products coming your way products like Crude oil, Jet fuel, Diesel. (URPIB rules does not endorse some products) Si-1 offers the basic trading structure that the import export broker , agent or sourcing intermediaries must learn to apply, adapt and adopt. From here one takes the leap to become a independent buyer/seller on their own. SI-1 also has a more simpler model copy of a workable IPG ( Commission pay order) than advised in SI-2. You have evertyhing needed to learn the basic trading application in the SI-1 module,Including a contract example and a set of good model documents to give added guidance.
WTMW SI-2 Is a folder containing 25 plus PDF , Jpeg examples of offers, contracts and other examples of real past live deals as used by FTN exporting (sanitised in part) all applied in a different matter so that the intermediary can draw insight and inspiration from such examples depending on the deal they are applying, at any given time. I have intentionally not included such examples in SI-1, as I want the study applicant to read SI-1 without having to break concentration to look at a particular offer or model documents as learning to write such document and studying such documents takes time to master on their own. It has taken FTN many years to master producing such documents. As for contracts - an advance FOB model contract is offered for use as well as a CFR contract for later use.
WTMW SI-3 / SI-4 / onwards : Changes from time to time and offers differing publication depending on whats on offer at any given time -mainly to do with advance trading directives on even more complex advise about products we really want you not to deal with.
Si-1 also offers a hard to get registered FTN Exporting created Agency Agreement - Those who after gaining good experience and have studied intently all matters of the doctrine may seek paid employment in related industries or even better, many have comfort to act on ‘behalf a disclosed principal’, in where such a trader must have an agreement in place as issued by the principal or they may provide a copy of FTN Agency agreement for such to consider. You cannot claim ‘mandate ship’ of a principal end buyer or supplier unless you have an agreement in place with such traders . FTN exporting strongly only recommends the intermediary acts upon the premise of not disclosing the supplier or end buyer - but sometimes especially those who have been trading for a long time and know what they are doing, may come across a rare opportunity to represent a large corporation- that’s when such an agency agreement could be used.In any case Please read such intently as it also contains valuable advice on trading on ‘behalf of a disclosed principal.’
When we trade for ourselves we trade ‘on behalf of an undisclosed principal’ Meaning? We do not need to disclose supplier to the end buyers and is the best trading skill to obtain and apply.
FYBR publication pages have been omitted, restyled, updated and expanded upon to produce the said “Si’ modules as a smaller, simpler, refined doctrine overall. You pay only for the parts you want to learn about or discover more about. Once you’ve learned the basic trading structure as per Si-1 all other modules are able to be purchased separately in where we concentrate only on the attributes offered is each said module in association with Si-1.
FTN Exporting has taken FYBR V onwards up to FYBR XI and produced a new updated doctrine in the simplest manner possible, less complex than previous publication to assist those who are hesitant to enter into such a complex business practice. But don't be fooled - the doctrine is still formidable.There is a cost for reducing the size of the publication in that some matters of laws and rules will be omitted, in where other more pressing ‘sourcing’ matters are added instead. Whether you are a lawyer, banker or home based intermediary , all you need to know are in those modules in where Si-1 is the key premier module and in where applicants who are studying the more complex works like ITSI could also purchase more information and valuable advice by way of other modules offered.
Having the formally published ‘ITSI’ as ordered form the publishers (Ashgate Gower's U.K) on the side, will only enhance the beta advice offered in Si-1. If for instance a ITSI study applicant who already has good model documents in such, still is unsure of matters pertaining to the doctrine , may refrain from purchasing Si-1 to favour Si-2 instead. FYBR XI or X past purchasers will not need to purchase SI publications unless they have problems starting a deal. This is where WTMW excels at - the all important starting the deal premise. All others should consider purchasing the latest current Si publication only if they want to remain relevant to recent situations and developments.
In the FYBR publication we defined the useless position of the sourcing intermediary in where all traders MUST becomes buyer seller eventually. This premise still applies , except now we want intermediaries to practice attributes of sourcing intently. Si-1 now does that, we expand upon the basis of the activities of the sourcing intermediary. Getting this premise right means you’ll get to understand the whole doctrine much more intently. It’s from this position that the applicant becomes a ‘seller/buyer’ eventually.’
Now lets be serious for one moment .You can’t trade in multi million dollars deals with corporate giants, banks and their lawyers , if you don’t understand what’s going on and what are acceptable safe trading attributes. Most such traders often don’t know what they are doing and will not help you to close such deals. In 2012 FTN has secured on diesel offer from a supplier as secured by informed intermediaires learning the ropes, in where end buyers also secured by recent intermediaires (8 months)- Buyers are considering such as I write. Contract value USD$940 million dollars? Get my point?
If FTN secures only 10 dollars per MT on such a deal for all parties being protected on commission payments ,in where the buyer still gets a great price, FTN will be holding 12 Million dollars of such commission once the deal closes to it final delivery. As buyer/ seller FTN will personally set make USD$6 million dollars. These deals are worth the chase- and every now an then one such a deal might be captured going all the way to closure but only if the intermediary knows what they are doing and is prepared to stick it out for the long haul. A life time of wages working for others, earned on one deal? Only very informed traders have such potential, many won’t close that one big deal, but trying to close such deals ‘correctly and effectively’ gives everyone an even chance in doing so - If they are informed. The alternative is to trade using flawed unworkable procedures which are never able to be used to close any deal anyway, is an assured out come.?
Enacting time on real efforts is a lot different to wasting time bluffing your way around. One might produce, has scope to produce a great outcome, the other never will. You can't expect to make such a life time of gains playing Tiddly Winks, or pushing useless deals a around all day. You can't expect that such a deal will even come your way for the first 12 months of 'studying and practicing ' the doctrine.
As stated , we’ve concentrated on matters pertaining much more aimed to towards the activities of the sourcing intermediary, in where once the sourcing application is mastered, the intermediary should be able to revert to the position of actual buyer/seller within 8 -12 months of enacting on the Si-1 application - In where refinement , practice,and actually trading experience is ongoing. You learn all matters of enacting as a sourcing intermediary intently , from all angles. You need to do so to be able to have full confidence in holding position as buyer come seller of exportable commodities - one day.
For heavens sake! It takes a 4 year apprenticeship just to become a qualified cook or a hairdresser. As are all well aware , such does not mean that said practitioners who have learned their trade are always good at their trade. Here we have a complex applications needing knowledge and abilities pertaining to legal issues, sourcing, negotiations banking and accounting before one is able to qualify as a practicing international trade intermediary professionally, and yet many think they can wake up one day and trade in such complex issues without the need to learn study or practice anything. We see it all the time, ill informed traders who simply bluff their way following the ill guided advice of those who have no idea what they are doing , such advice as sourced on the net.
The Si modules are therefore ideal practice and study application. If a sourcing intermediary is unable to revert to the position of a Seller/Buyer, they may still have opportunity to remain trading if they are able to attached them selves to a informed URPIB practitioner. (Slowly becoming easier as the doctrine takes hold.) Only very well informed traders would be able to attach themselves to a informed URPIB trader, holding status as a buyer / seller, accordingly whether you remain a SI or not , the doctrine must be studied.
Every one studying basic procedures as per ‘SI-1’ publications gets one set copy examples of a quote, offer ,IPG, and standard FOB contract model at the end of the publication and more. Only the intermediary purchasing Si-1 will know, after ready and studying such intently , if they want to continue to learn more and purchase more modules .
The publication is repetitive at times, written on purpose in such manner because where once a situation requires the mention of a particular premise , said premise might also need to apply elsewhere as well depending on the situation in hand. Such repetition helps greatly to establish some very important issues to mind.
Si-1 will be dealing more with aspects of the ‘hard to start a deal’ application rather than defining matters intently about closing such deals which is said to be the easier side of the whole application. Thus the basic structure of the imaginary deal defined can be applied for nearly all products including the very occasional standard fuels and crude deal. Si-1 remains as your base trading structure. You can add a little to the structure, depending on the deal in hand , but you can’t take matters away.
Once you accept the ideals in Si -1 then advance dealing become apparent by the purchase and study of added parts which interact with the standard Si-1 module or you remain fixed to Si-1 and refine such over time - for mostly mainstream commodities.
In essence without the base Si-1 doctrine, all other Si publications are literally useless. The key to use all other Si modules is dependent on learning , practice and study of the actual base doctrine as advised in Si-1.
The new ‘Si-1’ doctrine is best exemplified by the following simple advice.
You’ve built a motorised model of a World War II Bi Plane. You’ve done so because you have followed instructions and advice provided with the model. You’ve learned a lot building such model taking a year to complete. You now want to build a model of a modern Jet fighter. All the basic principles of Aeronautical design and flight were learned with the first model. You only need the right parts to make the Jet fighter- as you already know how flight takes place and why. All the attributes of the old Bi Plane would be still relevant for all time so long as planes use Rudders, Tails, Wings, Wheels to take off and land , with or without engines. This now suggest that the basic principle and rules of a ‘perfect’ design and flight are just that. The Bi Plane is no more advance in design than the latest aircraft.
No different with learning how to trade as an intermediary- you learn the basic principals that must prevail, then apply advance trading applications as you expand upon your premise beyond the realm of ‘ SI-1’ but within it maximum wider range of application.
The publication SI- 3 (when offered) is an updated version of the past COFI (Crude Oil For Intermediaries) publication and is specific in defining all important matters of such Petroleum deals for entities who want to attempt such deals more often than not. SI-3 comes with due diligence protocol, Platt documents as well, as sourced on line free of charge , as well as a crude oil BOL example copy. We explain how to use such free reference material with our SI-3 doctrine. We start with a basic offer as made in the usual manner , then explain why we often cannot use such ‘usual offers’ made by suppliers unless we go beyond the standard Si-1 application , and shows how you must ‘tweak’ the offer to make it work for you when demand from a supplier or end buyer needs further considerations to apply. Petroleum deals when offered as a standard application implied in SI-1, delivers the basic premise but many supplier are often asking for beyond standard trading applications in where some further consideration could be made to apply. The intermediary trading heavily in petroleum products needs to know ‘how far they may stretch the bow’, before giving upon the deal or decide upon proceeding with such. Si-3 will help you greatly on such matters of crude / fuel deals if you decide to trade heavily on such products. For occassional fuel deals stick to the SI-1 doctrine, as fuel deals are the hardest commodities to deal with and secure. 10 dollars per MT commission on sugar is the same 10 dollar earned on a much more complex fuel / crude deal.
A word on commission. You are chasing commission and you don’t want to be shafted, also defined as being ‘circumvented’ then you have no other option but to study and apply the doctrine. No ends buyer in their right mind will allow you to earn such commission if they can avoid such. The commission payment when earned comes from the funds of the end buyers . Bear such a fact in mind at all times. If the end buyer needs product ‘now’ and you’ve secured product where they can’t , you’ve rightly earn commission for skill, advice, for safe service and for your expertise. You've earned commission while still giving an excellent price to the end buyer.
Important copy right Issues:
Any one who produces original written material or artwork has copyright protection automatically conferred upon them. Please respect the idea that you have spent money to become informed and that these works were given to you for personal use only.
You have not just purchased a publication but also trading secrets and information not available from anyone else as FTN exporting are the creators of the uniform doctrine offered. Copying, reselling, duplicating these works and/or surrendering such to others is a serious offence world wide.
The money paid is for ‘your license’ to personally see and use confidential advice offered in this publication including all examples of forms offered. That’s why no refund clause is offered. We really don’t understand the mentality of a person spending such good money , only to give such a unique publication to friends and others, who in turn eventually pass it forward to even more people who are not entitled to benefit from the advice given in our publication. If you are willing to spend time effort and money to learn the doctrine, the worst thing you can do is to provide copies of the doctrine to those who do not share your attitude. You are destroying your own efforts trade by allowing others to tout the doctrine in a stupidly applied ill informed manner.
end of sample
Terms and conditions of purchase are defined on the front page, the actual publication page and below for all modules offered. The main matters are further addressed below.
(1) No mentor ship, support, or e-mail advice is offered or given for only purchasing WTMW Si is assumed from the start. ( Unless stated at publications page offer or if such is offered in the actual publication at any given time at the discretion of FTN exporting)
(2) No refund is possible nor matter the argument presented. You are not just purchasing a book but a doctrine as well as a license to see and use such unique and confidential material we've created. The purchaser has right to personally use our copy right document formats.
(3) No get rich scheme is offered and reasonable understanding of English language is needed. No guarantee of trading success is given or implied. What is assured is that the doctrine is effective and is able to be used by intermediaries in a safe legally defined manner in where their own country does nor prohibit such activities.
(4) A study learning application is offered. Closing said type of deal in the nature of business defined is a doable but a difficult process to apply by most. The authors declare that one must assume they will not close a valid deal or come close to closing such a deal for 12 months minimum. Paying for the study application with the ideal you will earn such said purchase price when you close a deal is the wrong assumption to take.
(5) If one cannot afford to buy such a publication and study its attributes then such should not attempt to trade as well is the best advice we can give.
(6) All inquires to ftn exporting will not be accepted is also assumed and that all registered smice agent have discretion to consider an informed inquiry from a informed intermediary who has studied these works, in where such is not ready to take on holding position as a buyer/seller but who has attained skilled a s a worthy sourcing intermediary.
(7) A fully paid up mentored applicant taking mentorship as offered from time time , means that the entity is attached only to D.AG.Papa for a minimum period of 12 months in where such is listed as a Smice agent and is trading under the support and advice of the mentor as sought by such so that the entity learns the trading structure Intently to eventually become a buyer/seller in their own right.
All past FTN Exporting ‘in-house’ private publications have the basic trading structure apparent. 'WTMW Si' is about simplifying and reducing the huge amount of information provided in past publications, in where more matters about the activities of the sourcing intermediary now applies. Si also updates the FYBR publication in a rewrite in where intermediary trading issues apparent from 2010 onwards are being addressed- especially more recent questions often asked by those who are applying the doctrine fully.
Those who have purchased our formally published works 'International Trade and the Successful Intermediary (ITSI) from U.K publisher, Gowers /Ashgate ,'WTMW' breaks down the formally applied structure to its simplest premise.
Some parts of all FYBR editions have been meshed with ideals of Si-1 to produce different perspective to the original doctrine. As FYBR fades away, 'WTMW Si' will become the new standard doctrine for the next decade ahead, in where the global economic climate is changing ever so quickly year upon year.
5000 cargo ships ply the open seas today. By 2020 this number will double, hence the future said trading potential starting from 2012 is identified. The applicant has a few years to study and perfect the doctrine before trading as a professional intermediary indeed becomes ‘heavy duty.’
End buyers will needs such service as will busy suppliers.
It all starts with abilities pertaining to sourcing suppliers, and later end buyers. You, the intermediary starts at such a level. Your aim ? Is to become a Private Independent Agent (PIA) as quick as possible.
Specifically you (PIA) is learning and practicing to hold position as the Buyer and Seller of commodities acting on behalf a of undisclosed principals. That’s your aim. The second option if you can’t or won’t hold position as buyer /seller due to lack of confidence, but have great skills at sourcing, is to attempt attachment yourself to an informed URPIB Buyer/Seller, although this option is very limited as its at the discretion of the informed Buyer/Seller to accpet your attachment in where you work to source products for such ,in return such protects your commission and who then attempts to close deals that you have assisted to source, in a unified and protected trading group.
So we have clarity on your goal from the start. You will become a seller of commodities to the end buyer and buyer of the same commodities, from a supplier. You are going to learn to hold such position by using the funds of the end buyer to buy goods from a supplier you have sourced and to do so in a safe and legally acceptable manner.
Have you got all that!
How?
By studying and applying slowly the matters defined in this effective doctrine.
Those who were hesitant to purchase and study FYBR as being too complex, with too many pages taking a long time to study and read, may now consider purchasing the lesser expensive current and easier to comprehend ‘Si-1’ publication. Those who have found ‘ITSI’ as being too formally applied, Si will break down to a simpler understanding advice not understood prior.
Everyone must learn to eventually become a buyer / seller. The simplest way to arrive at such a status is to practice the doctrine a while acting as a sourcing intermediary. With these new Si modules, we’ve now have elaborated upon intently the matters a sourcing intermediary will need to practice without added distractions.
What is and example of a “distraction.”
i.e We’ve stated that all business must be applied in writing.
But you ask?
“What ! I can’t speak with the supplier over the phone.”
No! You can’t . Not when starting a deal. Once a deal gets to contract signing stage, talk all you like. At the very least get the ‘offer to procure’ out and accepted first .
Why?
Where do I start.
I’ve seen people go broke in this business will monthly fax/phone bill exceeding $14000.00 per month- is one issue.
(1) Deals takes up to 3 months just to close. That’s a lot of calls.
(2) Everything by e-mail until contract time; then talk all you like.
(3) If you use the phone, then expect offers and information to be made verbally and as such, it’s useless information that has been secured. It will not defend you when / if problems arise in the deal later, and you don’t have the required ‘ostensible authority’ ( more Later) to act as seller of such goods.
(4) And how will it look when talking on the phone , a question is asked which you should have had an answer to , but just have forgotten at that time.
We are defining such matters in relation to talking with end buyers or suppliers.Talk all you like with intermediaires assisiting you.
And there is more.
I think you get my drift.
So when I state 'all matters start off in writing and all replies must be in writing' such is not a trivial statement and will often have a very good reason to apply. I say as much because I have not explained the matters above to other issues, thus saving many pages in having to explain such matters fully, thus not adding to ‘distract’ your main focus of application. You assume such matters when stated must be applied for good reason in where only more pressing and much more important matters are explained.
That’s the difference between this WTMW publication and all others. We have expanded upon the starting application leaving out matters of lesser importance. You need to start trading as soon as possible/practical.We offer such quicker learning attributes because we have reduced your study time with this publication.
We also get up to a 100 e-mails per day and the phone constantly ringing which we do not answer without vetting, from ill informed intermediares who think that they have ‘hot deals’ when in fact they have nothing.Supplier won’t ring you nor will end buyers until a contract is in play. You have to get an offer to buy or sell in front of an appropriate principal, and most (95%)intermediares we have come across in 25 year are dreaming and have nothing to offer. You want to talk all day on the phone or do you want to start trading ? You can’t even start to control any deal if at first you can’t control time wasting attributes of ill informed intermediaries-
The ‘apprentice’ will need to address and learn matters of sourcing products and getting started in this business first, while they strive to become a buyer seller of exportable commodities for gains. FYBR and ITSI had dismissed the sourcing attributes and concentrated more on the activities buyer/seller status in where the sourcing intermediary (Si) now applies the opposite premise. We require that the intermediary now concentrates on matters of ‘sourcing’ more intently, as a matter of practice, before changing status to a buyer seller. This means, you only answer ill informed inquiries from equally ill informed intermediaries for purpose of learning for a few months then that’s it. Learning what? Learning how to make offers and learning how to identify fake deal within 30 seconds flat. You start to become strict with procedures and as you become informed as you’ll start interacting only with those who have potential to assist you sourcing end buyers/suppliers in where you head and control the deal with such assisting you, as the buyer /seller controlling the deal and protecting commission payments for those under your protective care.
Your job is to learn how to buy goods from a supplier hence you are the ‘buyer’ and learn how to sell such goods to a sourced end buyers as ‘seller’ using the funds of the end buyer in a legally defined way to do so from a corporate office or home.There is no other way to secure commissions and gains effectively for yourself and those you are protecting while assisting you.
Previously too many study applicants rushed to take up the seller /buyer status far too quickly , in some cases, weeks after reading FYBR, which is simply an unacceptable way to learn anything intently. Only personally mentored FTN agents have such capabilities. Si will force the professional independent intermediary to spend more time practising to trade at the sourcing level, thus ensuring such are indeed informed once they start enacting upon the role of buyer/seller. No point in by-passing the basics, to go on and study more complex situations- as such, Si-1 now actually provides recommended matters of time factors that we strongly advise intermediaries to apply.
Below defines a few opening pages in part defining FYBR V to X
Lets get the matter out of the way about who Davide Giovanni Papa is and the role of FTN Exporting plays in the nature of business defined.
FTN exporting started to officially trade as an intermediary in 1988, even though it casually dabbled in such deals in from 1985. In 1994 after a major editorial about the activities of FTN regarding a sugar deal and other matters were exposed in a major newspaper, (*Sunday Herald Sun June 5th 1994 Page 111 Personal Finance Section, Melbourne, Australia) a barrage of intermediaries ever since have been desperately seeking the much sought after trading advice as prescribed in these works.
If one does not know such procedures intimately covering a wide area of applications within the macro environment of the traders’ field of play, then one is simply fooling themselves and are best described as wasting their time in attempting to close such type of deals. The Author makes an assumption when declaring that 98 percent of the millions of traders on the Internet today don't know how to close a deal from start to finish. (Test such an assumption out later after reading the doctrine intently.) Ask a question or two from those who approach you. Ask such a question to a banker or lawyer as well. You’ll soon see what we mean when we say '*98 percent.'
(*with the doctrine out there for a good 6 years, it’s now probably gone down to around 95% today, albeit lets stick to the guiding assumptions offered)
Most don’t even know how to start a deal correctly, let alone attempt to bring such a deal to a final conclusion. Such an assumption is drawn from the fact that from every 98 offers and the likes from every 100 advised to FTN Exporting by outsiders especially in the last 12 years, have all ended up in the trash as being inappropriate and unworkable. Some have tried bluffing there way, by reading matters already advised on our sites before connecting us- but as often happens, they soon get caught out. The whole doctrine has to be studied and read in order intently. Excerpts of the doctrine as found available on the net will not deliver the attributes of the whole doctrine needed. We’ve answered around a 1000 questions on only intermediary trading matters via USA site allexperts.com since 2001 as to further prove that we have also been on the net for a long time. Even there you will not find te required trading structure needed to learn this business effectively. It’s very difficult to conduct business as a true professional international trade intermediary, at least if you are going to attempt such business applications, you should do so using effective workable procedures
What is an “ill informed” intermediary .
(a) One who has studied our works but has failed to apply its virtues.
(b) An outsider. One who has never studied our works and are is trading using other flawed methods. We’ve created the first uniform, safe legally defined Intermediary doctrine, hence only one of two said options may assume to prevail.
Anyone entangled with the nature of business being plied with such ill informed intermediaries will also certainly never close a deal or ever see a cent in commissions no matter how long they trade with such misguided entities. Scoring a deal as a matter of blind luck does not count, all because a relative of some misguided trader, as sometimes happens, is the owner of a factory producing exportable products as Intermediaries do not have such family connections backing their trading misadventures into a successful deal.
The said sugar deal collapsed into a legal nightmare 2 weeks after the newpaper article was printed but as far as everyone else was concerned FTN Exporting had made huge personal gains from such deal accordingly, the need to teach others eventuated by accident because FTN Exporting felt that Intermediaries needed to know what happened and how to void being caught in the same situation. More in depth International trade studies were taken at a local college to find out among other things what went wrong with such a deal. Technically the Sugar deal had closed as correctly reported by the then Dunn and Bradstreet journalist. After trading for nearly 6 years we had finally snared the “big one” using near similar, but less advanced procedures as advised in these works. My mistakes while trading will not be yours. 5 years will not be needed to at least grasp a major part of the doctrine which will come quickly to those willing to learn and master the doctrine from the start . The rest is about gaining experience- It’s got nothing to do with how much other have made or ftn exporitng has made in this business. All because one person closed a deal and made great gains , does not means everyone learning this doctrine will do the same. Anyone who makes any claims that they will become successful in this business simply by studying any doctrine is not being honest. Personal attributes also pay a roles. Frankly speaking , many who have approached us and have already purchased our docrine or ITSI do not have the required personal attributes to become a professional intermediary. We can show you what you need to do. We can show you the ropes. We can teach you the required intermediary trade application. The end result is simply inferred. From the vast numbers learning this business some will remain as having potential to become attached to an informed URPIB buyer/seller as a sourcing intermediary, and the least numbers will have the required knowledge and skill to become a buyer / seller in their own right. One thing is for sure not learning the only effective viable intermediary trading application means that your chances to earn commission in this business is literally zero. It’s alway been like this from the first day FTN started to trade.
My name is Davide Papa- Now that you’ve met me, lets get stuck into the doctrine.
Lets fast track the study to matters apparent up to the year 2012.
PREAMBLE : The Sourcing Intermediary (Si) 2012
Don't worry if matters of the these opening pages don’t make sense, such matters will be explained fully later when you commence studying the actual doctrine. I’m intentionally disclosing the whole trading deal in a nutshell, so you know exactly what is going on, and what is expected to apply to anyone wanting to try learning how to become a professional commodity trader and informed intermediary.
All editions of FYBR have been replace with Si from 2012. The Si publications are simple study modules as created by the author Davide Papa, made for export import intermediaries, brokers, agents, corporation as well as suppliers and end buyers. Bankers should also be studying such matters as the advice given by some, to intermediaries have been advised incorrectly. Si goes back to the grass roots of trading as an import export intermediary, especially on how to commence trading. There is a need to do as much. Si modules have not been edited nor proof read, as the author wanted the fullest possible application to apply a per his own words.
Lets have a quick run down about the law. Common law legal systems are in use world wide, particularly in England where it originated in the Middle Ages and in nations or regions that trace their legal heritage to England as past colonies of the British Empire. The United States, Singapore, Bangladesh, Pakistan, Barbados, Malaysia, Sri Lanka, India, Ghana, Cameroon, Canada, Ireland, New Zealand, South Africa, Zimbabwe, Hong Kong, and Australia currently use legal systems built upon English law principals. Some laws may differ in such legal systems in interpretation of such when compared with English law; the principles of administering such law don’t.
The remaining countries follow an admixture of common law principals, religious laws and or the civil code sometime called European law. Some countries use Common Law principles or reference of such from a bordering country - I.e China via Hong Kong.
The good thing about English legal system is that, amongst other things ; no matter the country, most if not all are able to use in part or fully, contract formation attributes, applicable to matters of International trade as provided under English law. Many contributions to international trade laws came from the misadventures of English exporters dating back a very long time, as the borrowed from ancient Roman laws associated with commerce and beyond. How far beyond ?
English law traces back it genesis to the biblical times of Moses.Yes! Moses!
Very few academics know that around a 1000 year ago , (King) Alfred the Great produced a set of laws the basis of which formed common law attributes of England today . Alfred the ‘Great’ law maker used the basis of his laws, as borrowed directly from the Ten Commandments, the same Ten Commandments as ostensibly produced by Moses. So common law principles emanated from religious dogma.
Add to mix English merchant law of the sea, of sea battles lost and won, and the ability to insure good via the creation of Lloyds of London, one soon comes to the realisation on the reason why in the past, it was often heard said that ‘Britannia rules the seas.’
The other country in an era gone by with major influence on the way we do business today as it relates to banking , bonds and financial instruments comes for Italy ( Read more on : Merchant of Venice, Nathan Rothschild..etc) and later USA via the brilliance of it own localised use of interstate UCC rules of commerce (united commercial code)
To say that over half of the world applies common law principles fully or impart is not and understatement. To say that the worlds biggest exporters China, India and USA lead the way in the use of such similar laws is also not an understatement.
The binding factor in all countries is that International trade laws, banking rules and delivery rules applied or could be applied to interact with 95% of countries now gives clear insight that the FTN doctrine is indeed formidable, as the very same rules and laws available for use by exporters and importers today are the very same laws and rules that the intermediary needs to ply as well but in a different manner. Accordingly like all FTN Exporting published procedures , English common law and foreign governance of such applies to give direct support to the nature of business applicable to the International trade Intermediary as it relates to uniform procedures, strict and safe procedures and more importantly legally effective procedures. If one is going to attempt to trade in exportable goods around the world as sourcing intermediary , then the most superior, strictly applied legally effective doctrine is being offered.
Internal laws and rules of a particular country like lets say Brazil or USA can’t be used once goods are delivered. They can be used only up to the point before delivery eventuates- from then on, when goods are finally loaded on board ship. It can be best said that International trade laws take over and in where sovereignty of the ships ‘flag’ take precedence once the ship leaves the jurisdiction of territorial waters. Yet with this advice firmly given in all publications since 2005, for all the information FTN exporting has provided on the net over the years we still often have ill informed importers and exporters, some real some fake who will attempt to use local laws for interpretation and use in international trade dealings. Badly informed Intermediaries are the main culprits of applying local commercial practices of once country into the international arena. We’ve all seen those pathetic unworkable and flawed LOI, BCL, ICPO type of dealings.
Having said all of the above it has become apparent that since the first time release of the doctrine in 2005; that whilst this first ever uniform doctrine is being studied my many intermediaries , so many end buyer and suppliers who are meant to enact business within a set of long established guiding rules or and laws fail to do so. Intermediaries get the blame for may failed deals as 99.9 percent of such traders before this doctrine came along have been trading incorrectly and in a flawed unworkable manner but; many end buyers and suppliers have the very same ill informed status applying to them. So the term ‘trader’ means anyone involved in the nature of business being applied.
Even while writing this doctrine in 2012, an internet report stating that many end buyers and suppliers still don’t know how to interpret for uses Incoterms delivery rules as released in 2010. Banks giving wrong advise to exporters and importers in matters of UCP600 banking rules are also ongoing common complaints.
In one only legal publication that FTN seeks reference upon at times, there are over 1000 court cases recorded where suppliers dealing with end buyers , failed to follow rules and laws of international trade only to find themselves in some very costly legal action. If I search the net, there is a perpetual flow of information on such court cases. So assume that employing a non informed and usually very expensive lawyer does not mean that one will not end up in court. Getting an informed PACT Agent or URPIB lawyer involved will lead to a different positive outcome. It’s not good enough to tenure only a international trade lawyer, as they specialise in matters of contract as it pertains to direct importers and exporters rather than intermediaries. What’s left?
An intermediary must become informed and the best way to become informed about their business and the interests in such is to personally 'learn the ropes.' Home based Intermediaries , Bankers , Lawyers and the likes can now do as much with the FTN exporting created doctrine.
All serious trading issues that our doctrine avoids ‘has caught out some really big fish.’ The Intermediary must at all time protect its own fragile and precarious trading position in that ;
The informed intermediary avoids court appearances.
The intermediary avoids being charged for fraud or deceptive conduct.
The intermediary secures its own commission without fear of circumvention.
The intermediary avoid being sued/ avoids consequences and loss.
The intermediary does not out lay their own money when they trade.
The intermediary intently looks after the interests of those they enact with.
The intermediary does not get caught by scam artists and fake offers.
The intermediary is an honourable trader at all times.
The intermediary is informed , skilled and knowledgeable in procedures.
The intermediary also protects the interests of the exporter and importer.
The intermediary applies the doctrine as a strict matter of compliance.
The intermediary is able to collect earned commission safely and legally
The Informed intermediary avoids being circumvented.
Above edicts are why a uniform intermediary doctrine is (was) badly needed, a doctrine that is legally and effectively defined that must be used by anyone attempting to trade in the nature of business defined. There are no shorts cuts. There are no added considerations for flawed dealings. I kid you not when stating there are no easy solutions. We cannot deal in every aspect of business but a very specific part of such. And yes! The doctrine is strict and must be strictly applied especially when a complex doctrine has been reduced and simplified to its core principles.
The legal opinions FTN had served to U.K lawyers and others in defense intermediaries in big trouble since 2010 now also further reinforces that the intermediary doctrine must be strictly observed. I make no qualms that this is a ‘dog eat dog’ business. I make no qualms about informing the potential intermediary that they are attempting to trade in a very complex business application, probably one of the most complex applications on the planet. If an intermediary is not seriously trying to apply the doctrine to the best of their abilities-no matter the failures encountered , if the intermediary is not prepared to mix it with the big corporations, don’t bother studying this doctrine. Best you remain trading as you have been, because without real study effort and intent as applied over the longer term, you’ll never test your potential to close such a deal, in where; a person using flawed applications often reveals itself eventually of defining a person in pursuit of a useless endeavour .
No body has argued the merits of the doctrine. There is nothing to argue about. The doctrine is backed up by strong rules and laws and by the very people who are International trade experts in their own right. Many Bankers, Lawyers, Barristers and many very clever home based intermediaries from all around the world have purchased and praised the doctrine intently from day one. The Doctrine has been tested for soundness by more superior minds than ours over a very long period of time. It was not an easy task to release a publication that went against the norm. I expected arguments left , right and centre when I first released the doctrine in 2005 but I was confident and ready for a fight, no matter who they were. Non eventuated,instead many compliments followed.
The doctrine offered is for independent intermediaries and all traders to use by those who are attempting to close a deals in the import export business for gains in a strict, legally effective and very safe manner. It’s not our business that the traders, suppliers and end buyers we come across don’t know how to conduct safe business professionally within the acceptable bounds and rules of trade. The best an informed intermediaries can do is to secure goods from a supplier while offering valuable advice. The best an informed intermediaries can do is to advise and guide end buyer on matters of safe trading. We can do as much to show our worth, while trying to close deals for gains, because unlike so many others, we are informed sourcing intermediaries, training to become Buyers and Seller of commodities in our own right, one day. We must not stray from the doctrine. For all the frustrations, for all the attitude and ill conceived trading procedures and silly demands we‘ll come across - we must not stray from the doctrine. If I did not make this matter abundantly clear in the past publications, then I now intently do so.
We must not stray from the doctrine.
We enter into a trade using strict safe procedures, because to actually close a deal which collapses in any other manner, will deliver a nightmarish situation or even prison, for a person who simply wanted to do business as a import export intermediary with good intent.
The SI publication will be the last final publication of its kind and will be refreshed once only every year. If rules of delivery change or laws are invoked changing important matters of the doctrine, such changes will be offered freely to study applicants of ‘Si-1’ (and modules) on ftn exporting.com site page as established, if such changes become apparent only; accordingly this publication is said to be 99% effective and sound. Please keep sighting the FTN site every few months to see if any official important worthy updates are apparent to Si-1. Also please take notice of FAQ posting on smice.net occasionally so that any added information offered at times might also be effectively used by a informed Sourcing Intermediary (SI).
You are an informed intermediary because you have made effort to study the doctrine. You offer a service to busy end buyers or suppliers therefore you have worth not just in creating sales but guiding an deal safely for all involved. It cost a small fortune every time a importer or exporter uses other to guide their dealings. Hence you service with those who are prepared to make offers to you is valuable.
If you have remained focused as a sourcing intermediary trading at FOB delivery of non break bulk goods for 12 months or more, then you may commence to practice and study variable advance trading applications and not before. We have removed all matters of advance trading advice and remain solely fixed on the basic platform of the doctrine, for the first year of a SI actively trading. We suggest that you keep away for Container deals - A $20,000 dollar continer full of whatever will earn you very little and are just as hard to close , perhaps even worse than attempting to close a 50 million dollar deals- Why waste your engery? Small buyers count their ‘pennies’ intently, where as corporate buyers don’t flinch on large deals.
( SI defines the acronym ‘sourcing intermediary.’)
Those who want to continue to learn this business ‘beyond the basic structure’ may seek to purchase added modules as specified further. If you land a FOB deal in the first year or more ,then the chances to close such are excellent. The advice offered in Si-1 is now made clearly apparent. The FOB structure, leads to all other delivery applications and once well learned allows an easier step to prevail in being able to conduct more complex delivery applications and business practices- once the basic trading structure has been fully learned. If you are going to trade as a export import sourcing intermediary with a scope to become a buyer seller outright this publication is for you.
No matter if DLC and delivery rules change, the premise of the doctrine will remain valid for many decades. Around 98% percent of all many intermediaries on the net have no idea what they are doing. They have created damage amongst themselves and havoc with their stupidly applied and ill informed flawed approaches made to many good suppliers and end buyers going back many decades. These facts have added in making our work harder. It will be very difficult and it will be hard to secure suppliers and end buyers much more now than 25 years ago, has become apparent in 2012 and it will take a bit more time for most suppliers (and end buyers) to wake up and realise that a new breed of professional intermediaries are now apparent increasing yearly, thanks to the FTN doctrine. We are getting there but its been a mammoth job to date.
We don’t want to hear excuses that it’s hard to secure real suppliers. Most of our agents ‘learning the ropes’ with some or little support form FTN exporting have continually kept the smice .net board full of suppliers. So real suppliers can be secured with real effort using the attributes of the doctrine. Getting supply first as it will be explained in detail later , is still the most crucial part of the whole process. We don’t want to hear excuses that end buyers are asking for this or that - we can only work within the realm of the doctrine. There is no ‘suppliers or end buyers’ list and nobody is going to give you their hard sourced details of a potential end buyer of supplier unless there is a very good reason to do so.
You are chasing one FOB non break cargo deal- that’s your first aim. It will mean swimming through a whole lot of muck, hence you may as well treat such muck as being valuable only to you. Valuable in the sense that trading through such muck offers you a water logged playing field and training ground. A place to practice your skills and knowledge.
We envisage that 2012 onwards is going to be a big years for those who have continually studied and plied the works from 2009. If you are going to attempt to do business in this field of practice , then do so as a informed intermediary. Learn , study and practice for years, until one day that one deal falls upon your lap, and you’ll know what to do You are chasing millions in gains- Such gains will be in the reach of an informed intermediary, but its not going to come easy, not by any standard.
Your are not buying or selling real estate. You are not placing bets on race horses to make profit. You are not a stock broker or insurance broker representing a ‘principal.’ Intermediaries chase gains. A gain as made by real effort and skill. The term ‘procure’ aptly exemplifies this ideal.
In this all new ‘Si’ publication set , the doctrine and supporting advice is offered as well as advice on what problems intermediaries have encountered while mostly trading from 2010 onwards.
The Si sets as offered are best defined as follows .
WTMW : Si -1 Has the basic trading structure for all acceptable commodities including fuel and crude oil, but deals mostly with matters of mainstream type of non break cargo and container trade. If you are going to deal in crude and fuels often, then more information about such products needs to be advised, hence Si-3 needs to becomes attached to the Si-1 doctrine. All products must apply element of the Si-1 doctrine. All deals are traded as per the advice offered in the doctrine. The same way you need to ply offers of Sugar , Cement , Urea, may still apply for occasional products coming your way products like Crude oil, Jet fuel, Diesel. (URPIB rules does not endorse some products) Si-1 offers the basic trading structure that the import export broker , agent or sourcing intermediaries must learn to apply, adapt and adopt. From here one takes the leap to become a independent buyer/seller on their own. SI-1 also has a more simpler model copy of a workable IPG ( Commission pay order) than advised in SI-2. You have evertyhing needed to learn the basic trading application in the SI-1 module,Including a contract example and a set of good model documents to give added guidance.
WTMW SI-2 Is a folder containing 25 plus PDF , Jpeg examples of offers, contracts and other examples of real past live deals as used by FTN exporting (sanitised in part) all applied in a different matter so that the intermediary can draw insight and inspiration from such examples depending on the deal they are applying, at any given time. I have intentionally not included such examples in SI-1, as I want the study applicant to read SI-1 without having to break concentration to look at a particular offer or model documents as learning to write such document and studying such documents takes time to master on their own. It has taken FTN many years to master producing such documents. As for contracts - an advance FOB model contract is offered for use as well as a CFR contract for later use.
WTMW SI-3 / SI-4 / onwards : Changes from time to time and offers differing publication depending on whats on offer at any given time -mainly to do with advance trading directives on even more complex advise about products we really want you not to deal with.
Si-1 also offers a hard to get registered FTN Exporting created Agency Agreement - Those who after gaining good experience and have studied intently all matters of the doctrine may seek paid employment in related industries or even better, many have comfort to act on ‘behalf a disclosed principal’, in where such a trader must have an agreement in place as issued by the principal or they may provide a copy of FTN Agency agreement for such to consider. You cannot claim ‘mandate ship’ of a principal end buyer or supplier unless you have an agreement in place with such traders . FTN exporting strongly only recommends the intermediary acts upon the premise of not disclosing the supplier or end buyer - but sometimes especially those who have been trading for a long time and know what they are doing, may come across a rare opportunity to represent a large corporation- that’s when such an agency agreement could be used.In any case Please read such intently as it also contains valuable advice on trading on ‘behalf of a disclosed principal.’
When we trade for ourselves we trade ‘on behalf of an undisclosed principal’ Meaning? We do not need to disclose supplier to the end buyers and is the best trading skill to obtain and apply.
FYBR publication pages have been omitted, restyled, updated and expanded upon to produce the said “Si’ modules as a smaller, simpler, refined doctrine overall. You pay only for the parts you want to learn about or discover more about. Once you’ve learned the basic trading structure as per Si-1 all other modules are able to be purchased separately in where we concentrate only on the attributes offered is each said module in association with Si-1.
FTN Exporting has taken FYBR V onwards up to FYBR XI and produced a new updated doctrine in the simplest manner possible, less complex than previous publication to assist those who are hesitant to enter into such a complex business practice. But don't be fooled - the doctrine is still formidable.There is a cost for reducing the size of the publication in that some matters of laws and rules will be omitted, in where other more pressing ‘sourcing’ matters are added instead. Whether you are a lawyer, banker or home based intermediary , all you need to know are in those modules in where Si-1 is the key premier module and in where applicants who are studying the more complex works like ITSI could also purchase more information and valuable advice by way of other modules offered.
Having the formally published ‘ITSI’ as ordered form the publishers (Ashgate Gower's U.K) on the side, will only enhance the beta advice offered in Si-1. If for instance a ITSI study applicant who already has good model documents in such, still is unsure of matters pertaining to the doctrine , may refrain from purchasing Si-1 to favour Si-2 instead. FYBR XI or X past purchasers will not need to purchase SI publications unless they have problems starting a deal. This is where WTMW excels at - the all important starting the deal premise. All others should consider purchasing the latest current Si publication only if they want to remain relevant to recent situations and developments.
In the FYBR publication we defined the useless position of the sourcing intermediary in where all traders MUST becomes buyer seller eventually. This premise still applies , except now we want intermediaries to practice attributes of sourcing intently. Si-1 now does that, we expand upon the basis of the activities of the sourcing intermediary. Getting this premise right means you’ll get to understand the whole doctrine much more intently. It’s from this position that the applicant becomes a ‘seller/buyer’ eventually.’
Now lets be serious for one moment .You can’t trade in multi million dollars deals with corporate giants, banks and their lawyers , if you don’t understand what’s going on and what are acceptable safe trading attributes. Most such traders often don’t know what they are doing and will not help you to close such deals. In 2012 FTN has secured on diesel offer from a supplier as secured by informed intermediaires learning the ropes, in where end buyers also secured by recent intermediaires (8 months)- Buyers are considering such as I write. Contract value USD$940 million dollars? Get my point?
If FTN secures only 10 dollars per MT on such a deal for all parties being protected on commission payments ,in where the buyer still gets a great price, FTN will be holding 12 Million dollars of such commission once the deal closes to it final delivery. As buyer/ seller FTN will personally set make USD$6 million dollars. These deals are worth the chase- and every now an then one such a deal might be captured going all the way to closure but only if the intermediary knows what they are doing and is prepared to stick it out for the long haul. A life time of wages working for others, earned on one deal? Only very informed traders have such potential, many won’t close that one big deal, but trying to close such deals ‘correctly and effectively’ gives everyone an even chance in doing so - If they are informed. The alternative is to trade using flawed unworkable procedures which are never able to be used to close any deal anyway, is an assured out come.?
Enacting time on real efforts is a lot different to wasting time bluffing your way around. One might produce, has scope to produce a great outcome, the other never will. You can't expect to make such a life time of gains playing Tiddly Winks, or pushing useless deals a around all day. You can't expect that such a deal will even come your way for the first 12 months of 'studying and practicing ' the doctrine.
As stated , we’ve concentrated on matters pertaining much more aimed to towards the activities of the sourcing intermediary, in where once the sourcing application is mastered, the intermediary should be able to revert to the position of actual buyer/seller within 8 -12 months of enacting on the Si-1 application - In where refinement , practice,and actually trading experience is ongoing. You learn all matters of enacting as a sourcing intermediary intently , from all angles. You need to do so to be able to have full confidence in holding position as buyer come seller of exportable commodities - one day.
For heavens sake! It takes a 4 year apprenticeship just to become a qualified cook or a hairdresser. As are all well aware , such does not mean that said practitioners who have learned their trade are always good at their trade. Here we have a complex applications needing knowledge and abilities pertaining to legal issues, sourcing, negotiations banking and accounting before one is able to qualify as a practicing international trade intermediary professionally, and yet many think they can wake up one day and trade in such complex issues without the need to learn study or practice anything. We see it all the time, ill informed traders who simply bluff their way following the ill guided advice of those who have no idea what they are doing , such advice as sourced on the net.
The Si modules are therefore ideal practice and study application. If a sourcing intermediary is unable to revert to the position of a Seller/Buyer, they may still have opportunity to remain trading if they are able to attached them selves to a informed URPIB practitioner. (Slowly becoming easier as the doctrine takes hold.) Only very well informed traders would be able to attach themselves to a informed URPIB trader, holding status as a buyer / seller, accordingly whether you remain a SI or not , the doctrine must be studied.
Every one studying basic procedures as per ‘SI-1’ publications gets one set copy examples of a quote, offer ,IPG, and standard FOB contract model at the end of the publication and more. Only the intermediary purchasing Si-1 will know, after ready and studying such intently , if they want to continue to learn more and purchase more modules .
The publication is repetitive at times, written on purpose in such manner because where once a situation requires the mention of a particular premise , said premise might also need to apply elsewhere as well depending on the situation in hand. Such repetition helps greatly to establish some very important issues to mind.
Si-1 will be dealing more with aspects of the ‘hard to start a deal’ application rather than defining matters intently about closing such deals which is said to be the easier side of the whole application. Thus the basic structure of the imaginary deal defined can be applied for nearly all products including the very occasional standard fuels and crude deal. Si-1 remains as your base trading structure. You can add a little to the structure, depending on the deal in hand , but you can’t take matters away.
Once you accept the ideals in Si -1 then advance dealing become apparent by the purchase and study of added parts which interact with the standard Si-1 module or you remain fixed to Si-1 and refine such over time - for mostly mainstream commodities.
In essence without the base Si-1 doctrine, all other Si publications are literally useless. The key to use all other Si modules is dependent on learning , practice and study of the actual base doctrine as advised in Si-1.
The new ‘Si-1’ doctrine is best exemplified by the following simple advice.
You’ve built a motorised model of a World War II Bi Plane. You’ve done so because you have followed instructions and advice provided with the model. You’ve learned a lot building such model taking a year to complete. You now want to build a model of a modern Jet fighter. All the basic principles of Aeronautical design and flight were learned with the first model. You only need the right parts to make the Jet fighter- as you already know how flight takes place and why. All the attributes of the old Bi Plane would be still relevant for all time so long as planes use Rudders, Tails, Wings, Wheels to take off and land , with or without engines. This now suggest that the basic principle and rules of a ‘perfect’ design and flight are just that. The Bi Plane is no more advance in design than the latest aircraft.
No different with learning how to trade as an intermediary- you learn the basic principals that must prevail, then apply advance trading applications as you expand upon your premise beyond the realm of ‘ SI-1’ but within it maximum wider range of application.
The publication SI- 3 (when offered) is an updated version of the past COFI (Crude Oil For Intermediaries) publication and is specific in defining all important matters of such Petroleum deals for entities who want to attempt such deals more often than not. SI-3 comes with due diligence protocol, Platt documents as well, as sourced on line free of charge , as well as a crude oil BOL example copy. We explain how to use such free reference material with our SI-3 doctrine. We start with a basic offer as made in the usual manner , then explain why we often cannot use such ‘usual offers’ made by suppliers unless we go beyond the standard Si-1 application , and shows how you must ‘tweak’ the offer to make it work for you when demand from a supplier or end buyer needs further considerations to apply. Petroleum deals when offered as a standard application implied in SI-1, delivers the basic premise but many supplier are often asking for beyond standard trading applications in where some further consideration could be made to apply. The intermediary trading heavily in petroleum products needs to know ‘how far they may stretch the bow’, before giving upon the deal or decide upon proceeding with such. Si-3 will help you greatly on such matters of crude / fuel deals if you decide to trade heavily on such products. For occassional fuel deals stick to the SI-1 doctrine, as fuel deals are the hardest commodities to deal with and secure. 10 dollars per MT commission on sugar is the same 10 dollar earned on a much more complex fuel / crude deal.
A word on commission. You are chasing commission and you don’t want to be shafted, also defined as being ‘circumvented’ then you have no other option but to study and apply the doctrine. No ends buyer in their right mind will allow you to earn such commission if they can avoid such. The commission payment when earned comes from the funds of the end buyers . Bear such a fact in mind at all times. If the end buyer needs product ‘now’ and you’ve secured product where they can’t , you’ve rightly earn commission for skill, advice, for safe service and for your expertise. You've earned commission while still giving an excellent price to the end buyer.
Important copy right Issues:
Any one who produces original written material or artwork has copyright protection automatically conferred upon them. Please respect the idea that you have spent money to become informed and that these works were given to you for personal use only.
You have not just purchased a publication but also trading secrets and information not available from anyone else as FTN exporting are the creators of the uniform doctrine offered. Copying, reselling, duplicating these works and/or surrendering such to others is a serious offence world wide.
The money paid is for ‘your license’ to personally see and use confidential advice offered in this publication including all examples of forms offered. That’s why no refund clause is offered. We really don’t understand the mentality of a person spending such good money , only to give such a unique publication to friends and others, who in turn eventually pass it forward to even more people who are not entitled to benefit from the advice given in our publication. If you are willing to spend time effort and money to learn the doctrine, the worst thing you can do is to provide copies of the doctrine to those who do not share your attitude. You are destroying your own efforts trade by allowing others to tout the doctrine in a stupidly applied ill informed manner.
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Terms and conditions of purchase are defined on the front page, the actual publication page and below for all modules offered. The main matters are further addressed below.
(1) No mentor ship, support, or e-mail advice is offered or given for only purchasing WTMW Si is assumed from the start. ( Unless stated at publications page offer or if such is offered in the actual publication at any given time at the discretion of FTN exporting)
(2) No refund is possible nor matter the argument presented. You are not just purchasing a book but a doctrine as well as a license to see and use such unique and confidential material we've created. The purchaser has right to personally use our copy right document formats.
(3) No get rich scheme is offered and reasonable understanding of English language is needed. No guarantee of trading success is given or implied. What is assured is that the doctrine is effective and is able to be used by intermediaries in a safe legally defined manner in where their own country does nor prohibit such activities.
(4) A study learning application is offered. Closing said type of deal in the nature of business defined is a doable but a difficult process to apply by most. The authors declare that one must assume they will not close a valid deal or come close to closing such a deal for 12 months minimum. Paying for the study application with the ideal you will earn such said purchase price when you close a deal is the wrong assumption to take.
(5) If one cannot afford to buy such a publication and study its attributes then such should not attempt to trade as well is the best advice we can give.
(6) All inquires to ftn exporting will not be accepted is also assumed and that all registered smice agent have discretion to consider an informed inquiry from a informed intermediary who has studied these works, in where such is not ready to take on holding position as a buyer/seller but who has attained skilled a s a worthy sourcing intermediary.
(7) A fully paid up mentored applicant taking mentorship as offered from time time , means that the entity is attached only to D.AG.Papa for a minimum period of 12 months in where such is listed as a Smice agent and is trading under the support and advice of the mentor as sought by such so that the entity learns the trading structure Intently to eventually become a buyer/seller in their own right.
