These are the rules of trade we, at Eastern Union Energy practise.
They have been developed by Davide Papa over the course of 25 years of international commodities trading.
You will not find courses taught about international commodities trading that involve Intermediaries (Facilitators). Almost all courses assume that trading goes on between Buyers and Sellers only.
In the oil business, there may be 50 or so Principals (Majors) that do primary transactions in Nigeria. But there are thousands of Intermediaries, Agents and people posing as Mandates that are attempting to 'get lucky' (in the secondary market).
We have looked at transactions and offers that are floating around and realized very quickly, “How do these people expect to get paid?”. Non Circumvention and Non Disclosure Agreements, NCNDA, are for the most part unenforceable.
How is a person with no money going to take on a multi-lawyer firm representing a billion dollar company and expect to get any resolution? And when you consider the international nature of the business, how do you expect to deal with differing legal jurisdictions?
So, we started looking and found Davide Papa’s writings. The rules derived from his brilliant legal mind, over the course of many failures and successes, are the only safe trading procedures we recommend, that will protect every party in a deal where an Intermediary is in the middle of a transaction.
If you are an Intermediary and are not using these procedures it will be a truly rare moment that you will ever close any deal.
Most of the Intermediaries, Agents or Facilitators, and those posing as Mandates for a Seller or Buyer are uninformed boneheads that are trying their best to insert themselves in between a Buyer and Seller and expect by some miracle that they are going to make some money.
We receive countless offers that have faulty procedures and banking instruments that may never work in an oil deal for multiple reasons.
Well, here are the rules. We are sharing them because we follow them (for your benefit): http://bit.ly/2ajqr0Y
~Eastern Union Energy