Useful Tips on Crude Oil Transactions

When proper protocols are put in place and followed rigidly then issues such as trust are no longer needed. Every step of a transaction, from initial introduction to continued delivery is informed by a protocol that protects every party in the transaction.

These are the basics that we, at Eastern Union Energy, practise. 

When there is an introduction, there is data collected which is verified.

When there is an intention made, there is a soft probe to ensure capacity to perform.

When there is a contract written, there are banking instruments that guarantee performance.

When there are banking instruments initiated, the language in them calls for legal protocol and performance. 

When there is product offered, there is verification that it exists and that the title is in the right hands.

When there is availability of product there is 'quality and quantity' (Q & Q) verifications.

When there is Proof of Product, there is a performance bond warranting delivery.

When there is delivery, there is further verification of 'quality and quantity'. 

When the delivery is made, it triggers documents that are presented to the banks.

When the documents are presented, the title to the cargo changes hands as payment is made.

Everything is procedurally precise, strictly adhering to international banking and transference laws, no short-cuts.

The Result – Everybody is happy because everybody has been protected. 

 

~Eastern Union Energy