FTN EXPORTING TRADING PROCESS
HIGHER EDUCATION: EST 1988
Last updated: January 26 2020
WWW.SMICE.NET IS OUR NEW EDUCATIONAL WEBSITE IN 2020
We entered this business in 1988. Nobody knew what they were doing back then (most still don’t know today either). We were using telex and fax machines back then, costing me 1000’s of dollars every few months in phone / fax calls alone. Then came the internet, which was a god send, as I could not sustain losing so much money yearly with poor or no results. I had one local trader show me a $15,000 phone /fax biIl. He subsequently went bankrupt. Saving money by using the internet came with a huge problem. It flooded the market place with ill informed traders using strange, incorrect and flawed trading procedures. All the ‘trading clowns’ on the planet could be now found in one place on-line. We've destroyed good deals, we closed on seemingly weak deals, we have been threatened with legal action and we have been aimed at by scammers and fake deals, which have infested the internet. The internet is a dangerous place for the unwary applicant. Our first in house doctrine was released online in 2005. By 2010, applicants studying our works, including, Doctors, Lawyers, Bankers, Corporations, Barristers and many home-based traders have complimented our procedures intently, so much so that an edition of our Beta in-house doctrine was further proof-read and edited by a lawyer and released by leading U.K publishers. Publications ‘International Trade and the Successful Intermediary ‘ became a best selling academic publication, still selling well today. Better minds than ours have endorsed and tested the legal basis of our procedures, where compliments are ongoing to this day.
My point! My mistakes are not yours.
We had broken down complex trading situations, to its simplest understand, that literally anyone with a reasonable grasp of the English language and basic maths, could commence to learn procedure alone and enter into this business accordingly. There is no point to serve hype. The doctrine tells things ‘as they are' when applied in the real work of actual commodity deals. Those ‘who do not make the grade’ would have still learned numerous aspects of ‘big business’ and agency. The small outlay (and hence risk) for such huge potential is another aspect that this kind of study and business application serves intently. We can show you the ropes, but we cannot ensure that you will close a deal because ‘everyone is different.’ In this light, we can only assure the procedures and study offered is legally sound and made specifically for home or corporate-based or first time commodity traders worldwide as a uniform application. End Buyers and Suppliers could learn a lot by studying our work as well. The study is indeed formidable but strict and unforgiving. Apply the doctrine of trade safely and lawfully will in time produce decisive results.Your first job once the study is completed is to obtain one single NBC supplier. That is your only focus in the first year. Everything else is set into place from this one aspect being successfully learned. Those looking for a ‘get rich scheme' you’ve come to the wrong place, plenty such schemes are already found online. Those who are looking into the prospect of a future career, and is prepared to do the study and practice the process offered, are ideal business-minded candidates for the study. To become a ‘Professional Commodity Trader ‘ (PCT) and highly informed academic level specialist means that the applicant brings ‘something’ to the trading table, by way of knowledge, skill and abilities,’ the bedfellow of which is integrity, professionalism and security. Supplier and End buyers like such attributes intently. Most novice applicants are very surprised at just how much they have learned within months of taking up the study. Most deals fail at the early stage of trading. Each failure recorded adds to the experience and education aspect until the time comes when your confidence and proficiency levels increase. For some such levels are reached in under 10 months, for almost 12 months or more is needed before anyone will take you seriously. You are currently building bridges. You are gaining respect and acting with integrity as a Professional Commodity Trader (PCT) and specialist. You will only trade in FOB or FCA delivery mode for at least a year. You now need to master a specific process, because by mastering the ICC FOB Incoterms delivery aspect alone, will establish the premise to learn about all other delivery modes in the future. From FOB, it’s only one step to CFR delivery and another step to CIF, or if you take a step back from the FOB aspect, you are delivering goods at FAS. Confused? All you need to know about the ‘delivery terms’ used is explained in the doctrine.Even when ICC banking or delivery rules change, the trading structure if the doctrine remains intact and can accept such changes readily.We have had ICC UCP and Incoterms delivery rules changed in 2007 and 2010, with no effect on the doctrine. Like wise when the expected change to incoterms in 2020 comes to effect.
WHAT DO YOU NEED TO LEARN ABOUT
You will need to know a great deal about letters of credit and financial instrument processing rules as defined under ICC UCP international banking rules. The doctrine explains your position on this matter intently. Then you need to learn ‘Formation of Contract’ rules as it's applied in the international arena. One cannot use localised commercial aspects of doing business I.E: Chinese, Russian, EU, or American local laws and commercial codes cannot apply when trading in commodities internationally by a PCT. You’ll need to learn how to produce good clean documents, and you’ll need to study proper contract formation rules, and more. Unique matters found in the FTN Exporting Doctrine of Trade (FEDT) not found written in other trade publications, based on our 30 years of experience must also be observed. Very few authors have this kind of experience. Finally, those trading alone who eventually want to trade heading a string (groups) of informed traders, the PCT will also need to learn and apply commission payment orders and manage such ‘stringed’ traders as the lesser important aspect. In essence the PCT must learn to trade alone as a lawful Buyer and Seller is the main trading aspect. ‘I have a shop. I need to buy stock. I go to the wholesaler and buy stock as a buyer. I place the stock on a shelf, at marked up prices and sell such goods as seller. I am guaranteed to be able to collect such gross profits earned. The store owner is a buyer and seller. In this business the market place is the world. Since the market place is so huge , we needs to first learn how to transverse the market place and trading aspects therein. We then enter the market place as a lawful ‘seller and buyer.’ By closing a deal successfully as a buyer/seller, this aspect alone will ensure that gross profits is able to be safely secured. Intermediaries cannot secure commission payments, even if by some remote chance they cause a deal to close–is the biggest issue. It’s a big issues because ill informed intermediaries using flawed incorrect trading procedures have automatically inherited this defect amongst other. Circumvention is not an issue with the doctrine. Take the business seriously from the start and keep aways form ill informed intermediaries, “ they will drag you good efforts to the gutter.” Follow the directive and procedures advised and when you have completed the study, start trading. If you land a deal early, the doctrine show how to leave the deal safely. There is no point in pretending otherwise. You don’t have the required skill to close on the deal early. You do not close a deal until confidence level, experience and knowledge is in hand. If you are not prepare to trade in commodities measured in years, don’t take up the practice. This is a very exciting and lucrative business for those who succeed, it’s also one of the most complex business applications on the planet.
"I have been at it for over 32 years , and for all my efforts to do so , I cannot let this business go. Once the ‘trading bug bites’ it’s usually for life. If you don’t get bitten with the first year or so, leave the business and apply what you have learned elsewhere, after all the business of international and local ‘Agency’ is the biggest business on the planet and you are a specialist trader, a skill set that could be used in another internationally or even locally inspired business application by any worthy entrepreneur . Also Please note: "A number of dishonourable traders have stolen our material and sold it as their own after altering key words to disguise the theft which in turn has produced the correct perspective for a copy which was long outdated anyway.Years later they approach FTNX with a deal.No service is given.Entity cannto even get close to close a deal as 'all roads lead back to us eventually. The www.smice.net is out new edcational site, if you accept what stated here ,read more on smice, which is aimed to support those traders who have already purchased the SMICE in-house Beta doctrine.'