Brokers and Intermediaries
Brokers bring buyers and sellers together, and we welcome introductions of verified principals. We contract only with the principal, and every party in the chain passes KYC.
Brokers have a real place in the oil trade. A good broker knows who has product, who needs it and how to put the two together quickly, and many legitimate cargoes start with a broker's introduction. What a broker brings is the relationship and the market knowledge. What a terminal needs is a counterparty that owns the product, signs the contract and pays the invoice.
The same chains of intermediaries are also where most advance-fee oil fraud lives. Fake sellers, unverifiable mandates and documents dressed up as terminal paperwork pass from hand to hand until someone pays a fee that was never owed. Our rules for brokers protect genuine brokers and their principals from that, and they apply without exception.
How we work with brokers
A broker introduces. A principal contracts. The principal is the company that owns the product, or will own it, and that signs the Tank Storage Agreement or freight contract with us. From the moment of introduction we deal with the principal directly on commercial terms, verification and operations.
That does not cut the broker out. With the principal's written consent, a broker can be copied on correspondence and kept informed. Any commission is agreed between the broker and the principal. Our fees are quoted to the principal and appear only in our contract with them.
What KYC covers
Verification is the same for a first-time trader and a familiar name. We ask for documents, check them against independent sources, and speak to the bank and the signatories directly. A party that will not complete KYC does not move to the next stage, however attractive the deal looks.
- Legal entity documents, checked against the official company register
- Beneficial owners holding 25% or more, and anyone with effective control
- Directors and authorized signatories, with identity verified
- Sanctions and politically exposed person screening for all of the above
- Bank confirmation obtained by us from the bank, not forwarded by the client
- For brokers: their own entity, plus written authority from the principal
Words that should make you stop
Advance-fee fraud in oil borrows real terminal vocabulary and twists it. The pattern repeats: a document is promised or produced, and a fee is demanded before the buyer can see, test or receive product. Below is how we treat the terms that appear most often in those chains, so you know what to expect from us and what to refuse from anyone else.
| Term | What it claims to be | How we handle it |
|---|---|---|
| TSR (Tank Storage Receipt) | Proof that product sits in a named tank | Issued only to a verified storage client under a signed Tank Storage Agreement |
| ATV (Authority to Verify) | Permission for a buyer to confirm product with the terminal | Stock confirmed only to the verified owner, or to a party the owner authorizes in writing after KYC |
| DTA (Dip Test Authorization) | Permission to gauge and sample a tank | Inspection runs under a signed agreement through an appointed independent inspector |
| Tank rental or injection fee | Payment to "reserve" a tank or pump product into it | Never taken without a signed Tank Storage Agreement |
| NCNDA / IMFPA | Non-circumvention and fee-protection agreements between intermediaries | Private to the parties who sign them; never a substitute for KYC |
| Seller's or buyer's mandate | A letter claiming authority to act for a principal | Authority verified directly with the principal before we rely on it |
Check documents with us directly
If you receive a document carrying our name, check it with us using the contact details on this website, not the phone number or email address printed on the document. Tracking numbers we issue can be checked on our public tracker. A genuine document survives that check. A forged one does not, and we would rather hear about it early than late.
How it works
- 1Introduction in writing
The broker names the principal, the product and the service needed.
- 2Direct contact
We reach the principal on details we verify independently.
- 3KYC on all parties
Principal, owners, signatories and the broker are verified.
- 4Proposal to the principal
Terms go to the principal, not down the chain.
- 5Contract and operations
The principal signs; the broker is copied only with written consent.
Frequently asked questions
Can you issue a TSR so my buyer can see the product is real?
No. A Tank Storage Receipt is issued only to our own verified storage client under a signed Tank Storage Agreement, and only for product we have received and measured. We do not issue receipts to brokers, prospective buyers or any other third party.
Can my buyer dip test a tank before paying?
A buyer who wants to inspect product arranges it through the product owner, who must be our verified client. An appointed independent inspector carries out the inspection under a signed agreement. We never charge a fee to reserve a tank or to allow an inspection outside those terms.
Will you confirm that a seller has product in your tanks?
Only to parties the product owner has authorized in writing, and only after those parties pass KYC. Stock positions are confidential, so we neither confirm nor deny holdings to callers, brokers or buyers who have not been verified.
Someone sent me a document with your name on it. Is it genuine?
Check it with us through the contact details on this website, not those on the document, and enter any tracking number on our public tracker. If a document asks you to pay a fee before you can see, test or receive product, treat it as a warning sign.
Related
Integrity & Fraud Prevention
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Buyer / Receipt-Holder Portal
KYC-verified buyers see grade, quantity, tank, status and documents for the product they hold.
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Glossary of Terminal and Freight Terms
More than seventy storage, measurement, chartering and fuel terms, defined in plain English.
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Frequently Asked Questions
Storage, freight, tracking, portal access, documents, payments and fraud awareness, answered.
Read moreIntroducing a principal?
Send the principal's name, the product and the service needed. We will contact the principal directly and start verification.