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Suppliers and End buyers please note. All business is now initially conducted with FTN Exporting (FTNX) directly.We are unable to serve ongoing advice to inquiries made to us; as we are very busy and that all inquiries must be sound and professionally applied when contacting us. A supplier or end buyer contacting FTNX must have genuine intent of conducting business, and not look to simply test our methods or obtain much sought after answers to comlex matters of trade. FTNX will provide most sought after trade answers in due course over time, on our website– to alleviate this issue. Should a trade inquiry be accepted, FTNX will select a FTNX trained iSCOT or USCT agent to further act on our behalf, unless the nature of business is unusually complicated. Said agent can no longer be able to serve trade questions to its clients, that often ultimately is sent to FTNX to service; unless business is first initiated is the new aspect as it is time consuming to do otherwise. FTNX will advise a quotation, this act means “ business and been initated” with the end buyer. FTNX once accepting an offer, from a supplier also means “business has been initated.” FTNX is no longer revealing buy and sell prices online ( as per an index of exchange) and that the nature of business is now strictly private and kept for members inhouse use only, as a matter of necessity, to protect our interest and the client we conduct business with. We need to know the people we are dealing with is what this new aspect delivers.
SUPPLIERS IN POSSESSION OF EXPORT READY GOODS WORLDWIDE
FTNX Exporting applies rules–as current: ICC UCP and URC Letters of Credit Rules as well as Incoterms delivery rules on all business transactions. Performance Guarantees (P.G) are provided by the supplier once the DLC is first accepted, via the issuance of a 2013 ISPB SLC. International trade contracts apply English law bearing the English language. Disputes if not settled amicably are settled by an arbitration tribunal or similar in the country of the supplier. All business applications are deemed as ICA (Instantaneous Contract Applications) except for the contract which must be signed and delivered by courier as a hardcopy. All documents sent by emails are deemed original documents once supported by meta tags one send or received button is activated, and that meta tags added after sending does not affect the legally defined ‘original’ status of the document. No visits to supplier or buyer office (FTNX) is considered as a condition of doing business. No disclosure to whom FTNX is selling purchased goods are being sold to, may apply as a condition of doing business. FTNX offers all goods at FOB in ‘incoterms’ but is able to also offer CFR or CIF (incoterms) on request when dealing with end buyers. All suppliers must provide either a FAS or FOB Incoterms delivery modes when offering goods to FTNX and consider CIF delivery mode if sought by FTNX once destination port is revealed. All Payment are at ‘at sight’ of clean delivery documents. Transactions supported by an AWB are not considered. An export ready supplier unable to apply most of the above aspects should not be making an offer to FTNX.
- FTNX pays for revolving goods using Euro dollars as our primary trading currency.
- BPD, RMB and AUD may also be considered after adding a currency fluctuation factor. USD may only be used for single orders and not revovling transactions - until further notice
- A supplier may provide FTNX an offer for goods we may consider purchasing. The offer must be valid for 21 days (ideal) but not less than 14 days .
- Full container loads are not considered. Revolving goods bearing 1 shipment in hold @ NBC per month, bearing a minimum quantity of goods at 10,000 MT for 6 months /deliveries or more is considered by FTNX.
- ULCC loads are not considered. VLCC and VLBC up to 100,000 MT as well as monthly delivery contracts for 12 months or more are eagerly sought, especially for Copper cathodes, refined fuels, crude oil, sugar, grains and coal.
- If the offer is rejected, FTNX may issue an offer to procure (OTP) for the supplier to consider, valid for 14 days. An offer once signed is legally binding to parties involved.
- From the acceptance of the offer, to the final contract a period of not more than 28 or less must apply.
- From signing of contract to payment being made to the supplier, 7 days apply.
- From first contact once offer is accepted to first delivery to the nearest 15th day of a given month- a closing period of 60 days or less is apparent
- Upon acceptance of the payment instrument, first delivery is 21 days or less. Goods as specified on the specification page are goods eagerly sought by and sold by FTNX
OVERALL ADDED INSIGHT
- Incorrect and improper trading terms seen on the offer such as ICPO, LOI, BCL, ASWP, NCNDA, and MR 799, inquiry will not proceed and no reply will be served.The entity making the inquiry will be blocked.
- An offer from a country bearing western sanction (meaning; it cannot use western banks and SWIFT network ) need not apply
- Informed or ill-informed third parties such as brokers and agents defined as ill informed ‘traders’ must fully disclose who their principal (supplier or end buyer) is on first contact, when making an inquiry.
- Not disclosing who their principal is upfront - inquiry will be deleted and blocked. Good and honourable intent must apply at all times when dealing with FTNX.
- Disclosures made to FTNX are treated as confidential. If business does not proceed confidential information provided to us is trashed and never used by us, this has been our long well tested policy for nearly 40 years.
- The interests of the informed ‘intermediary’( one who has studied our doctrine and has a USCT number ) making such disclosure are protected by FTNX if business eventuates. Such entities may freely contact FTNX on our private email
- Matters of procedures and guidance is provided by FTNX only if goods offered to FTNX are accepted or are deemed acceptable for trading.
End Buyer: Please submit a proper request for an offer or quote, or no reply will be served. A end buyer who cannot open a bank issued UCP 600 endorsed DLC for the full contract amount should not be seeking products from FTN Exporting. Strict, safe legally defined trading aspect is what we have been promoting for nearly 40 years. An End buyer cannot simply ‘buy goods now and pay’ later using strange trading terms of reference, such terms often found used internally- in the USA. International Trade does not work this way. Those who claim as much should return to their ‘supplier’ and should not be contacting FTNX. This aspect has now become our mantra.
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