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    • Gas Oil
    • Fuel Oils
    • Automative Gas
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    • Our Investment Process
    • Risk Management
    • Our Enhanced Due Diligence Process
    • Competency Assurance
  • Home
  • Our Company
  • Our Products
    • Jet Fuel
    • Gas Oil
    • Fuel Oils
    • Automative Gas
    • Energy / Biofuels
  • Services & Solutions
  • Client Information
  • Our Approach
    • Our Investment Process
    • Risk Management
    • Our Enhanced Due Diligence Process
    • Competency Assurance
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  • Home
  • Our Company
  • Our Products
    • Jet Fuel
    • Gas Oil
    • Fuel Oils
    • Automative Gas
    • Energy / Biofuels
  • Services & Solutions
  • Client Information
  • Our Approach
    • Our Investment Process
    • Risk Management
    • Our Enhanced Due Diligence Process
    • Competency Assurance
FAQ Topics
HomeFAQ Topics

FREQUENTLY ASKED QUESTIONS

Here are a few of the questions we frequently receive. Should your question not be listed below, please feel free to contact us through one of the following methods:

By email: trading@teratradeltd.com

Browse our FAQ’s below, to answer specific queries.

What forms of payment are unacceptable?

Revocable letters of credit will not be accepted as payment.

How recent must my Letter of Intent (LOI) be?

In order to proceed in good faith, the seller requires that the LOI (Letter of Intent) is no more than five days old.

Can I order a trial shipment?

Buyers are free to order any reasonable quantity of any product they desire, however they should be aware that the seller will not regard any shipment as a trial shipment, and that no extra product will be held in reserve for a buyer for subsequent orders. The price will be based on the ordered quantity.

How can I obtain a soft quote?

A soft quote can be obtained by contacting us and completing the details of your desired order.

Can I see SGS reports prior to sending a LOI / ICPO?

Regularly no, sellers do not supply SGS reports prior to opening negotiations. Proof of product is provided at a later stage in the negotiation process. These documents are handled bank to bank, not from the seller to the buyer or vice versa.

Who pays for SGS inspections, and where do they take place?

SGS Inspections are paid for by the seller and are carried out at the port of loading.

What documentation will be needed to obtain a Firm Corporate Offer (FCO)?

Several items of documentation will be required in order to successfully negotiate a shipment. The soft quote is the first piece of documentation the buyer will receive. If the terms of the soft quote are agreeable, then the buyer will be required to sign an NCNDA (Non-Circumvention, Non-Disclosure Agreement). This document provides necessary protection to both the buyer and seller as they move forward in the trading process. A Letter of Intent (or Irrevocable Corporate Purchase Order ICPO) is the first piece of documentation required from the buyer, and it should be accompanied by a Bank Comfort Letter BCL or Soft Probe Authorization. When these documents have been received and verified, a Firm Corporate Offer (FCO) will be issued to the buyer.

Do I need to supply bank details with my Letter of Intent?

Yes. The seller requires bank details to be submitted with an LOI / ICPO in order to conduct a soft probe of the buyer’s accounts. The soft probe is used to gather evidence that the buyer is able to cover the cost of the trade, and provides assurance to the seller that the proposed trade is viable. The buyer’s Letter of Intent, therefore, must include bank details, authorization for a soft probe, and contact details for the buyer’s banking officer.A (Non-Circumvention, Non-Disclosure Agreement). This document provides necessary protection to both the buyer and seller as they move forward in the trading process. A Letter of Intent (or Irrevocable Corporate Purchase Order ICPO) is the first piece of documentation required from the buyer, and it should be accompanied by a Bank Comfort Letter BCL or Soft Probe Authorization. When these documents have been received and verified, a Firm Corporate Offer (FCO) will be issued to the buyer.

Can this procedure be changed?

Generally speaking, no. The standard procedure is in place due to the fact that it is regarded as providing the highest possible levels of protection to both sellers and buyers.

What are the standard procedures?

Please see “Policies and Procedures” or the specific offer of the product you are looking for.

If You Have Any Questions about Logistics, Please Feel Free to Contact Us

TL TERATRADE LIMITED, S.A. is an international Buyer/Seller of bulk commodities, specialized in importing and exporting petroleum products, particularly jet fuel and diesel.

Contact US
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Address: 27 Division St, New York, NY 10002, USA

Website: transmax.com

Email: transmax@mail.com

Phone: +8 (123) 152 25 45

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Address:
UNITED ARAB EMIRATES, Dubai, Downtown Dubai, Emaar Sqare Building, Tower 1, Floor 4
–
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