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FTN RESTRICTED SITE
This site is being accessed by those who are not entitled to do so , as such only trivial matters will be listed here from 3/8/2011.Very Important matters will now be advised personally to members .Semi important matters will be advised via download site page and only partially implied here.
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untitled
Dear Traders
1// The Smice net site is NOW technically closed until 2nd of Jan 2011.
2// I will change the dates of the smice board to indicate validity date in Jan 2012. I don't have banking facilities for at least 5 days . All the lunatic traders come out from now on anyway. Many CEO supplier take a break now as well.
So the smice board remains indicating to all outsiders that SMICE board is not valid. But the board and prices are valid to Smice traders.
Experienced traders- If you send an offer out from now on apply a validity date to the 3 rd of January 2012 with a first delivery date 90 days thereafter.
Those who are still trading over the festive season and have goods listed on smice PLEASE still ensure you send me price updates or changes to goods assurance status every 30 days or so as they fall due. Assume others members are trading -even though FTN is having a rest. Assume I won’t look at offer during rest period especially Christmas day and New Years day - day before and after,
I will still be here for most of the time during the break period except slow e-mail response will apply up to 48 hours. I am here, working on a U.K case pertaining to fraud charges applied to a high profile entity who is held in a U.K prison. (see; Ibori articles on net)
3// I have 4 ACA certificate to issue in 2102 . Exams paper will start to flow from February 2012.
4// Those who have not supplied in 2011 ONE wanted supplier for smice listing (OTS) or communicated via e-mail with me asking to remain listed - such will be removed from the SMICE agency registry at the end of December 2011
5// Only active applicants will remain listed. Active members in 2012 not sending me an e-mail for 3 months straight - the assumption is - you are trading independently. Such will be removed from listing Permanent members and recent mentored applicants exempt from this premises.
6// This premise will allow me to stop taking mentor ship other than for those who are very serious about trading as a intermediary- As mentor ship charges will remain very high on purpose. Inquiries i am not sure about , I will simply forward to a member to follow through at their discretion must refrain from accepting outside FAQ emails. It's consuming too much of my time.
7// This new clearing of the agency- leaves nearly everyone on the registry who has secured a supplier - Next year is about securing end buyers -FAQ will be aimed at end buyers matters- Everything I apply will be aimed at matters of securing end buyers. I will prepare an offer for all listed product as they come- in PDF form with password. As offers are in set formats that I have tried over the last few years- then as I build up the library in the download section , you will be able to select a suitable offer model appropriate to the goods being offered ,make your own offer model from such a PDF , fill in in the require details and send such away without need to confer with me.
New password opening PDF application will be advised to each new member as they contact me in 2012.
In time you will have your own offer models templates covering all products.
Transaction code will identify suitability of model for use on certain goods - i.e COF- 05FTN - DPRG-001
Means offer model is good for all crude oil/flues type deals and commission is reserved at 5.00 per Bbl gross. If it's DS-7FTN then model is only ideal for Diesel offers. If its CIP-34FTN this would means model is good for all FCL at CIP deals..etc and $34 dollars is the commission rate secured.( More about such matter later .)
If you need to negotiate with an end buyer a better price - then I will allow you to ply a lower price not lower that 25% of commission value indicated -without contacting me.
8// If the offer is signed but there are conditions - at the end of the offer , then comments that are added in area provided on the offer are applied by the end buyer for our consideration- Means? I will be issuing offer for most times as legally binding once signed and that if I do consider such comments , the contract will be issues with such added services applying.If I don't a NOR(Notice of Rejection ) will be advised for forwarding to your client .
So in your e-mail you apply your e-mail introduction when advising PDF to potential end buyers-
Validity of such offers applies as per validity of goods listed on smice. Get an offer signed , a contract will be advised. If validity date on the smice board is not apparent , wait for me to update before sending out any offers for listed goods.
This means RFQ application is now by-passed for smice listed agents , except if you get an inquiry for us to source a certain product NOT listed.
You present to me a signed offer to consider in the true buyer/seller fashion representing FTN exporting.
If unsure ? simply ask me. Always check and correct trivial matters as you write your offers. Serious mistakes on any PDF spotted? let me know ASAP.
Everyone will get a letter in the new year sent to their inbox explaining above. The whole exercise is about trading on offers with little help from me until contract times. If goods on smice get very low, this means everyone starts looking for more suppliers as an ongoing concern- try not to get offers for goods already listed.
For now -Take a break! Keep on studying and practicing in the new year. Thanks to all active members for your valued assistance during 2011 and I personally wish all members a very happy Christmas, and hope the New Year is indeed a prosperous one. Stay well, drink plenty (of water?) remain safe.
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DEAR AGENTS-
FTN NOW has too many calls - New PRIVATE phone /video number- mobile directly to me is : 0400 580233
My reactivated FAX land line directly to me as from next week will take voice calls -
I WILL ONLY SAY 'HELLO" - YOU THEN MUST IDENTIFY YOURSELF- OR I WILL SAY 'YOU HAVE THE WRONG NUMBER" - USE when important matter are sought:
61 3 93470003
Skype is the preferred voice contact application: FTNXCEO
I am away having a rest for the next 2 days :( Saturady/ sunday)26-28th Nov AEST-
I will be back MONDAY to read messages - If urgent ring me on my mobile;
NEVER GIVE THESE NUMBER OUT TO ANYONE.
CHRISTMAS PERIOD;UP TO NOW
All the idiot traders start to come out- New traders-simply practice doctrine and learn to reject such offers inquiries as a matter of practice>most have already stated mentoring with me in 2011 -way before mentor ship suppose to start in 2012-So practice to identify false offers during 'FTN quiet" trading period.
Bank also slow down/close from 18th Dec to 3rd Jan 2012- SO NO BUSINESS IS CONDUCTED BY FTN IN THIS TIME AS USUAL AS PER EVERY OTHER YEAR. I will not produce offer and the likes at this period of time.
I will be here over Christmas/New year festive period.I am not going anywhere this year.(health) - but will read e-mails at a slower pace-
Busy year next year-
Crude oil is is still on and will be coming next year. (as stated previously Nigeria)
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Sorry: I took this message off when I cleared my last FAQ session.
For new traders - Website belongs to FTN exporting. It's my experimental site where I try new applications. It's also a training website. Assume that I have invited new trader to have site access as "invited guest"- When site crashes(often) strange things happen to website pages from time to time, sometimes taking me days to rectify. The critical issue is that the offer that goes out to potential buyers - they must be correct.
Also from time to time when you see a number in front of a transaction code - i.e: 7FTNAMRG-556 this means -the offer has a gross 7 dollar per MT on top of buy price- hence if you get a buyer wanting 3 dollar or 4 dollars per MT less we probably can do it - If he asks for 7 dollar or 10 dollar per mt further discount we cant do it .If he asks for 2.00 as a "personal rebate" - you don't need me to authorize such - go ahead make the deal. We all simply get $2.00 less to share in commission - Who cares so long as the deal closes.
So Remember! SMICE site is my experiment site - Traders follow FYBR/URPIB doctrine is trading alone-When trading with me - then long term traders can practice at a "advance level' when I am heading such deals. For most your main site is is the smice price board- everything else is assumed my testing of new procedures.
One can't be a Chef while training as an apprentice. I use to train many apprentices when i was young Chef only in correct matters of cooking- even though as head Chef I would go beyond the bounds of such base cooking applications- some recipes turned out other dishes did not
Same here- All must learn the basic correct principles of trading- later advance applications may be tried only when I am heading the deal.
And yes, even I make mistakes albeit trivial ones.
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insurance 1
2nd November 2011
Advance Trading Advice:Insurance-
Independent FOB traders- 1 year plus onwards; wanting to try CFR deals as a stepping stone to CIF deals, need to understand more complex matters of insurance , just incase such matters are encountered. Here is the simplest run down of common encounters that may prevail from time to time.
INSTITUTE CARGO “C” CLAUSE: CIF DEALS
This is the cargo insurance type under incoterms that is defined as the minimum coverage expected. Naturally if end buyer asks for cargo ‘B” or Cargo “A” insurance such should be secured by the supplier if requested .
INSURANCE “C” COVERS
Loss attributed to;
- Fire and explosions
- Vessel being ground , stranded sunk or capsized
- Delivery conveyance via derailment , overturning .
- Contact or Collision of vessel, craft or contact during conveyance of goods , with any external object except water.
- Discharge of cargo at post due to distress.
- Loss or damage of subject matter insured by general average sacrifice
- By jettison of cargo mid ocean.
Transit Clause
If Buyer ask for an added transit clause to apply , such is an added expense which the supplier also covers i.e; Warehouse to port - Since we are not interested in DAP or EXW deals ( past DES) deals , then such does not apply .
Open Cover or Closed Cover
We usually don’t apply an ‘open cover’ application in where all details of the insured goods are fully advised prior to supplier securing policy. Open cover is where no such matters of goods are apparent in where general coverage applies. Open cover is a fixed value for loss of profits , freight and goods - but open cover is not defined to be an insurance policy but rather a “slip” until such values are declared.Ideal for revolving shipments in where a general value is being insured. where as closed cover is more ideal for use in single shipments. So once a slip is initiated , the broker takes the slip to his principal for signing in where Clause A,B,C to which the risk is covered accordingly as a binding contract application until the ‘policy “ is issued. The policy has to be given to collect upon the DLC terms and conditions , not the slip.
The intermediary gets the policy ONLY assigned to such - the Policy usually has a clause allowing assignment to apply- the intermediary just like the BOL, endorses the policy in blank over to the end buyer -’ In blank’ means it can’t be endorsed again from the end buyer to another buyer.
Valued or Unvalued policies.
When asked (if)- We use valued policies in where an agreed value for goods is insured.
Unvalued Policies is the maximum value insured , regardless of actual goods value.
General Averages
Remember the doctrine - each part of a deal may seem interconnected as one whole process , but in fact each part of the deal stands independently .Same applies to insurance matters.
Interest held by various parties - You have “carriage by sea matter’ which is concluded with the carrier . Then you have contract of insurance as advised by the ‘insurer.” In effect 3 matter are independently applicable in insurance coverage as it pertains to Ship, Cargo and Freight.
So i.e: Damage by sea water of cargo might be covered in Clause A or B insurance cover but not ‘C” cover.
Intermediaries stay with the standard application in where the end buyer has to stipulate any added coverage in where the supplier then offers as a matter of his offer to the intermediary buyer.
Burden of Proof.
if a claim is made the assured (YOU) in matters of defective goods arriving at destination port - the seller is obligated to prove the loss to make a claim. Hence your supplier has to prove to You - that such goods were sold as defined on contract. I.e. SGS inspection on board of goods and analysis of such. Thus if sea water damage the goods and mad such ‘defective” upon arrival and the end buyer did not take out insurance A or B his claim is with the carrier and not the seller.
IN THE MOST SIMPLEST EXPLANATION OF COVERAGE VALUES-
- Goods insured value at $ ,000,000.00
- Goods arrive damaged and were sold onwards at 75 % value = $750,000.00
- Difference: $250,000.00
- In such a case the insurers have to pay 25% of $750,000.00
- Buyer claimable valued is at =$187,500
His insurance premium will be set accordingly . Higher the value needing to be covered the higher the premium.Assume it gets much more complex than defined
This if why the doctrine insists that intermediaries where possible deal up to CFR and not CIF unless there is a deal so potentially strong and large that such a deal could be lost if CIF in not offered. I have only covered a fraction of insurance matters and CIF issues. Commission matters are also a big problem. You deal in CIF make sure everything is covered by your supplier in their quote to you at basic Class ‘C’ cover. The quote is confirmed by your end buyer who states any added matters of insurance in where you can now make your counteroffer to the supplier to incorporate such matters.
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WEBSIE: Starting to become important valuable asset to the intermediary, especially for advising a profile and activities.
For those who asked www.meccahosting.com is smice host. Very reliable and fast service.I recommend it. I use Mac via the "site studio' editing suite which can be used in PC applications- hence I can advise/assist set up animated gifs..etc.. if 'site studio' is used- which is a easy "build it your self application."
If you decide to set up a basic website -use the referral number LYZ 3MI
it tells mecca that FTN recommend such- ( i get added service time..etc..)
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ultratermsDFP3
3 November 2011; DFP Ultraterms .
Only Confident smice traders only may apply;
Simply put . Think about ex mill or ex factory products at EXW. We will accept “EXW” incoterms from a supplier “with added services” to us- the supplier will be required on contract to meet the DFP added services we are seeking as I have disclosed on SMICE.
Gimmicky- Sure! Workable - Yes. Anything that makes our activities more noticeable is a good thing.
So you found a EXW supplier - YOU negotiate all matters of ‘Added Services” Once agreed upon - the offer is advised by the supplier. So in essence you’ve negotiate with the supplier at EXW Incoterms with “Added services” and stated to the supplier that we require certain ‘Added services ‘ to apply -
May also be applied for crude/oil fuel suppliers-
Supplier is then given on the inquiry to buy (ITB) with the main ‘added services’ you are seeking stipulated before considering a EXW deal.
To the supplier EXW with “Added services” incoterms is sought.
To OUR end buyer incoterms applies at delivery mode FOB incoterms first and or CFR if such is requesting it.
But FTNX in house - it’s a DFP deal if added services are apparent . We do not accept to consider only EXW deals as defined under incoterms.
The offer in a FTN deal is sent to FTN exporting as ‘ EXW DFP”
Yes! - we are going to attempt to buy EXW goods at the lowest prices and formulate delivery costs at FOB or even CFR ourselves.
For the first few orders - Lets disclose the suppliers details on the SMICE site - name and country only so we can offer such goods with our delivery terms “on behalf of a disclosed supplier.” the rational here is simple - Most importers won’t touch EXW deals as such is an unsure protocol to many, hence we have the advantage. Mostly the big players play with EXW deals. IF the end buyer attempts to make contact with our supplier to buy at CFR or FOB only to find out that an EXW deal is on offer- they will have very little option but to come back to us. They will also be impressed that we are indeed the sellers at a higher delivery mode.
Only Large quantities please- If I am going to attempt such a risky but doable experiment -it better be worth my (our ) time.
Price should also prevail in where we get the best prices. So there is no point in getting an EXW price for goods which are sold at FOB because the end buyer then could go directly to the supplier -
But ? How do we know if we are dealing with only an EXW supplier- Ask for in your ITB for FOB and or “EXW with Added Services’ on your approach with suppliers. We’ll evaluate each offer on merit after D/D is applied. We will not disclose the supplier on the SMICE site if they are prime FOB suppliers-
YOU ARE SEEKING ‘EXW INCOTERMS 2010 WITH ADDED SERVICES’ as such the said full term MUST be acknowledged by the supplier in that its offer will not reflect only the true EXW basis.
Also for unwanted FCL type of products - Lets disclose the supplier on our site on the same basis- we won’t mind if we burn a few of such suppliers as goods were not really wanted in the first place-
So when sending me the OTS indicate in comments area “ Disclosure allowed” or “ May not be disclosed”
‘Disclosure aspects’ is worth the experiment on such a basis.
In other words DFP are our rules ( and any anyone else's rules only if they wish to use) So you do not need to push such rules into the face of a supplier or end buyer. DO not send the actual Ultraterms to them.
DFP Products has at least 2 or more main documents applying - Certificate of analysis and Export permit - The export permit is for the cost of the supplier made specific for goods being sold - all other expense are for the buyer - in where the supplier secures all matters and pays for such , and applies for such expenses on this sellers invoices against our DLC value all payable once delivery has been enacted as specified on Ultraterms 2012.
if a supplier can afford to sell,- i.e: 100 million dollars of goods it can afford to apply the scope of the added services.
Other in-house delivery application will also be created to fit in between the gaps left in incoterms .It allows us to deal in a broader scope than the doctrine in an advanced state only while deal is supported by FTN exporting.
If a supplier- not solicited- comes to the SMICE site on their own and accept DFP delivery mode directly then that’s a non incoterms deals as it relates to private contracting conditions in where no mention of EXW is implied - otherwise it’s “ EXW with added services “ deal.
Now lets start with sugar -One you see sugar offer applied on smice site - stop sourcing sugar.
You will see a sugar board soon- and the Price we are buying at DFP- you make your approach back to such suppliers asking for EXW with added services : applied on your ITB.
Supplier like EXW deals and may go a little further to offer such.
We seek access to supply for the year 2012 “ as needed “ is your approach for large quantities being considered.
Hence prices with ZERO implied on the board , has the potential for ‘ EXW’ prices - it means goods has been listed for some time in where we are unable to secure in any other delivery mode.
The critical aspect of the whole DFP is the export permit - it cost a lot of money for a ‘firm to be export compliance.’
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All ships exceeding 400 Tons must conform to fuel containing 3.5% pr less sulphur.
While this issues is not directly relevant to our business- it could have relevance in some remote cases. In any case heavy fuel oil offer now must contain under 3.5% sulphur or must have scrubbers on ships to enable as much.
If a ship breach such rules while approaching a port of unloading then goods may be delayed for unloading- not a good thing.
More about new MARPOL rules for those more technically minded.
http://www.marinediesels.info/2_stroke_engine_parts/Other_info/annex_vi.htm
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Most registered agents - Please DON'T concern yourself with DDD applications-CONTINUE TRADING AS IS- I'm experimenting with new terms.I will be asking suppliers for such in 2012. Not for new end buyer/clients anyway, and MUST be applied only when interacting on a deal with with me. It's a "CIF application with added services" - hence the price can only be formally worked out once we know an offer is accepted as takes a lot of D/D to deliver goods in such a manner which included tariffs - We do not get the Import permit,only everything else is included in price offer. To a supplier he gets 20% not 50% deposit - he gets a premium on price for giving FTN exporting 35 days credit after delivery.The whole value IDLC confirmed - must still prevail to buyer -but we get our commission form the deposit once FOB status has been arrived at. It's all about when collection is to apply.An attractive position for someone who does not want hassle of delivery and who wants to see goods before final delivery takes place. When seeking offer form a supplier ( only very experienced informed Agents may attempt ) Negotiations is about - CIF with D/A 35 days delivery Full DLC with 20% deposit at FOB delivery status 80% at port of destination delivery as per CIF. FTN is responsible for final outside customs delivery.The supplier still offers P.G 1.75% for FOB part of the deal- end buyer only gets LDD 1.25%
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ubnica33333
1// IN HOUSE BICKERING MUST STOP-
Some strange ill informed comments has confused some of the newest traders on the registry in the last 6 months. The peer to peer application is about older SMICE agents advising and assisting newer members with matter of procedure as per the doctrine.
I’ve give my valuable time to such members , in return- so such may also help me with new members - I expect such members to advise new members correctly within the bounds of the doctrine or variation of such. The registry is not about failures, personal opinions, ill informed advice , gut feelings or hairs standing on the back of your neck.
If any member feels that they cannot interact correctly on the SMICE registry when advising others including supplier or end buyers , please let me know and I will remove such from smice - NO QUESTIONS ASKED.
I don’t not ask who made the comments , as I really don’t care - hence assume what stated here is aimed to everyone. What I do care about is that when advice is given its accurate and informed. I don’t like ‘tattle tales’ , ‘snide remarks’, and in house politics amongst members - Such bickering must stop now.
Mentored applIcants attached to me - such are not effected. The 2012 registration is mostly provisional. If a member has not provided ONE offer for SMICE listing in 2011, the time to perform is now -or delisting will commence in early 2012 . I see how a member perform on the supply side before engaging with such on the end buyer side.
2// PROBLEMS WITH BRAZILIAN SUGAR SUPPLIERS-
BRAZILIAN producers will yield a huge Sugar shortage in 2012 equal to yield of 2008. My source is UNICA, and CEPEA - the Brazilian Government bodies reporting on such matters and as implied to me by long standing others within the industry who have also conveyed such concerns. We’ll know soon enough when the May 2012 crop estimates are formally ascertained.
SUGAR is sold by mills at cash price- as calculated from association via a co-operative, in where such have WTO trading export agreements in place. From this cash price LIFFE gets their FOB estimates. Said estimates are made in advance up to 3 years depending of yield.
It’s worthy to note that Indian sugar crop expects a bumper yield this coming season .Liffe prices are for SUGAR stowed on a vessel, not from a warehouse or along side ship. Brazilian port authority (supplied to me in the past has every ship being loaded with sugar and name of buyer daily ) and some of the biggest dinosaur ‘agencies ‘ are the main buyers- They are the one calling the shots- I am competing with them - and they don’t like me very much either. I make them very nervous and up to now the supplier are listening to them.
It imperative that you act as a buyer/seller on you own, (URPIB trader) or you specify that YOUR principal FTN Exporting seeking and offer for sugar or ..whatever? ( FTN Exporting Agent)
You can’t have it both ways.
Back to the sugar- The current cash estimate price is as follows-
Daily Cash Price Ranges as at 30th September 2011
Sugar prices per actual tonne
2012 - AUD 555.00 to AUD 560.00
2013 - AUD 542.00 to AUD 547.00
2014 - AUD 515.00 to AUD 520.00
Cane prices per AQ Tonne at 14.34 CCS
2012 - AUD 49.90 to AUD 50.24
2013 - AUD 48.70 to AUD 49.03
2014 - AUD 46.28 to AUD 46.60
Liffe price today is set at USD$674.00 per MT FOB which a a speculative trading price - not similar to when Bonds are issued - In this case it stocks.The person who owns stock actually technically owns the amount of sugar corresponding to stock share held.
Now clarity of mill cash price , profits, delivery expenses , taxes can be gathered when compared to FOB prices- but not discounts - that’s another matter.
The Cash price to FOB price varies from $80 dollars per MT up to $130 per MT depending from where the crop is milled from and delivery distance to nearest port.
If FTN Exporting were to BUY cash priced sugar UP FRONT in advance , FTN will need to pay all cost of delivery to port. Money paid in advance today is applied as ‘leverage’ to finance future harvests. 1 billion dollars secure for future deliveries can be leveraged to 3/ 4 billion dollars in today’s climate.
Meaning! 60 / 70 % of crop estimate including the 1 billion dollars cash secured from one source or many sources now can provide finance to a large producer to grow next years harvest. The buyer will get a generous discount on the price of such crop, because such sugar is purchase outside the bounds of the requirement of LIffe association.
Who buys such advance crops controls world prices. Other such applications exist in where the trading house is also involved. A true Trading House can actually finances suppliers and or end buyer.
Liffe prices apply only for ‘refined sugar on board a ship.’ In short - when the supply is short product gets scarce , intermediaries will not get supply unless such is an extraordinary order in where a premium on price is offered. When its over produced, Generous discounts are applied, up to a certain limit as dictated by EU directives and WTO directives depending on which country is importing such, once said sugar is refined and apparent.
In Brazil many agents of ‘Daddy’ or ‘Uncle‘ exist- Many are sugar ‘sellers” - many would not know if their heads are screwed on right. One “Seller” told me that he thought ‘Incoterms’ is a ‘Telecommunication device.’ Others tell me that their bank needs this and that-and that we don’t do business under UCP 600 Rules . Old timers state - What are these ftn procedures?
Most do not trade with intermediaries and as such trade with established clients who trade in a specific way- especially when trading houses are involved. Most are also sick and tired of all those ‘I want to buy sugar ‘ inquires from ill informed intermediaries, and think FTN is just like all the rest. We have a lot to contend with, yet we have had a lot of REAL offers come through FTN in the last 3 years.
3//ACHIEVEMENT NOT APPARENT.
Supplier are slowly taking notice. So what about all those many other ill informed traders ? What chance have they got? Cocoa - is more impossible than sugar to secure - yet we did secured as much. The Exxon fuel in 2004 and the Shell fuel in 2009 - impossible to secure but we did. Nigerian Crude is coming next ? Another ‘impossible’ product to secure.
Australian Government as per the letter secured last year knows about and has applauded my efforts and I’m sure other Governments know as much by now. I’m all set with T.V and the newspapers to brag on how good our agents are - but not without one registered agent first closing a deal- not privately, and not those no longer associated with FTN but current members, where I can witness such personally and verify as much as headed by me for medium sized non FCL deal.
We have just about mastered securing product - Now we as an ‘’Agency” need to master securing end buyers- 2012 is the year for doing just that.
A advance trading application of the past is where a supplier is trying to get rid of you by stating - ‘We need financial’s.” The advance application is to state ‘No problems -’You’ll have it all applied on contract.’ In where your demand for an offer is still insisted upon. This application works at times but often your end buyer fails to perform, thus a second chance become harder to secure.
Everyone is a seller or sellers agent for Sugar in Brazil- One call to the
commercial department of the Brazilian Consulate in any country , and you’ll get a list on who are the real exporters, and supplier - I paid for such a list in 2003 - It cost me $230 dollars - The list proved to be outdated and useless -Nobody spoke English and everyone directed me to their ‘Agent.’ the next door neighbour who could speak English. Half of the mill owners and exporters were also based everywhere else but Brazil.
Not every one belongs to OPEC just like not all sugar suppliers are Liffe members. Sometime we get supply for month or even years other times we don’t-
4// SMICE SUGAR BOARD
You will see a sugar smice board - that’s for me to play around with before I contact a ‘few old mates’, in Brazil in November for 2012 allocations as well as other suppliers in OTHER countries.
5// THE FUTURE
I have one good year left in me. The realisation that I have to stop has dawned upon me. Either I take the Titanium pins and get my back fused or accept becoming the ‘hunchback trader-’ I doubt that I’ll come back to trading as it will take six month plus to recover- ( For the new 2011 traders- I have Scheuermann's disease-it’s slowly getting worse.I will need to get such fixed at the end of 2012 early 2013)
In essence everyone I have mentored since 2005 will hold legacy to the doctrine personally or as uniform growing force. If the ‘FTN agency’ is going to close a medium size 30/40 million dollars contract it has be in 2012. Anything smaller won’t impress many around the world . The bigger the better.
You don’t go to a gun fight with a knife.
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A few are still confused about the OTS /RFQ application as defined in the last FAQ posting. Most are not. If YOU are unsure after spending time with me on how to to secure an Offer or a good quote via the use of an ITB, from a supplier, simply apply the OTS application- Pass it to me once all the information has been secured as you chat with such a supplier via email- (Point: Some have been unable to get a formal offer , yet email correspondence suggest they have an offer or sorts as they have been interacting with a potential supplier- If you have MT, Delivery, verifiable suppliers details, and in particular a firm PRICE you have a quote in the simplest form.YOU have OA. I will accept such if a supplier is clearly apparent)
You must save all e-mails applicable to the information added to the OTS as the emails advised to you is your 'OSTENSIBLE' authority to sell or buy as sent to you DIRECTLY form a SUPPLIER and not another SELLER.(You need such email evidence held to prove you had OA) I need to know that the OTS advised to ME has been checked .I will continue with the checking process to be 100% sure that OA is in place. Other more advance traders who have become proficient in securing an Offer from the start or good quote from a supplier , may accept the "formal offer" once provided by a supplier as "Ostensible authority"(this is the strongest form of OA) and may pass it to me "as is"if its straight forward to save time- or they too, may simply fill in an OTS and send it to me especially if the original secured information is not so straight forward, which is the preferred application as it keeps all my own files in one uniform manner.
Explanation my perspective as Buyer/seller: There is nothing more worse or irritating to ME in MY position, to get 4/5 documents in PDF / jpeg form(zip file) Loaded with information as given from a supplier to a SMICE agent, who simply passes such to ME- It forces me to extrapolate all the information from such documents, especially specification which often cannot be simply cut and past. If everyone sends me a filled in OTS from information secured- that's the easiest way. One method is about YOU trading independently as a Buyer/seller,(one day?) the other is about interacting with me, over the short term or long term perpetually while agents listing remains apparent.
An intermediary heading a deal may need to ply the same methods one day, but when the head of a group is securing the deal with the supplier they should be well advance in being able to get an offer from such. As it applies to the OTS so such applies to the RFQ. In all cases YOU should not be sending a OTS or RFQ form to a principal and simply ask them 'to fill it in and return such.' That was simply a starting application applied perhaps one or twice when you first started interaction with me 'to gets your hands dirty' so to speak.
THE SMICE Board does imply such a method in where I am asking a supplier to fill in an OTS BUT ITS DIRECTED from the perspective of a SUPPLIER COMING ACROSS MY SITE DIRECTLY. REMEMBERS THE SMICE SITE IS FOR SUPPLIER AND END BUYER, BUT INFORMATION ON IT IS ALSO PROVIDED IN A MANNER SO THAT MY AGENTS can also draw insight from such. I get many inquiries every week- all in jpeg / pdf zip files. I am sure I have trashed a few good potential orders over year. I test one every week , those which are really well presented- and Bingo! All turn out to be fakes. I now don't even open such zip files - they are trashed in immediately, because it takes too much work to evaluate every single inquiry.(I will spend half a day today, Sunday just looking at inquiries and trashing such) I hope its all clear now. Those who can and know what is expected , apply to secure an "offer" and convert such for most of the time to an OTS.You eventually need to do so if you are to become a Buyer/seller.
You still advise that your buyer is your principal 'FTN Exporting.'I am not asking that you act independently of FTN (hence I think where the confusion stems from) Those who are still learning (those learning are defined as those interacting with me for One year or less) can chit chat via e-mail to secure the required information if they can't get an offer or goods quote from the supplier and convert such information to a OTS ensuring they keep all emails evidencing such an offer.
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THE OTS FORM on the SMICE site is for me to play with and is made for a supplier coming across my site directly - There is a small gray area that allows a Smice trader to use such as well. Don't give the SMICE OTS to a supplier and tell them to fill it - You are chatting with a supplier YOU obtain then information and YOU fill in the OTS as and send it to me -it give you practice and it give me less headaches. Information on the SMICE page is for YOU to read so you can have direction but its aimed for those supplier coming to my site directly. At first I allowed the OTS/RFQ form to be issued directly, but soon worked out this was the wrong approach...(Yes!.. Ho..Ho..Ho..I do make mistakes as well ) I made this clear some time after the RFQ /OTS application was released that such methods must stop, but as FAQ message vanished , many new traders didn't get to read such. The OTS/RFQ application was a starting tool for new traders and those approaching SMICE agent who have no experience or knowledge. In fact once experience is gained then a quote or offer is the proper request of a supplier. with many leaning on me for support find easy ways to interact is never easy. Old RFQ /OTS are not valid once a new one gets issued. I have to experiment all the time - I cant stop trying to always fine tune process. As for Carbon Tax,it seems I moved too quickly in that Australia may not get such applied or if it does it will be removed quickly once an election draws near. I found another way to pay transparent 'rebates' anyway which I will advise soon. The Buyer advise and suppliers advice is also ostensibly aimed to advise my agents -but again it really there to stop suppliers and end buyers wasting my (Our) time.Thanks DP.
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SCAM ALERT:17/8/2011:
5th fake Bonny Crude Offers in last 9 days has been advised to SMICE . The Shell Petroleum Development Company (SPDC) new facilities increased the amount of oil it can process and export to 1.25 million barrels a day. Shell Bonny terminal has 12 million Bbl Storage Capacity and has indoor berthing for 6 tanker (VLCC) it also has outdoor facility to load a super tanker (ULCC) .Shell rents the Terminal/Storage land from the local River state Government.
The NNPC does not own concessional right to offer export Bonny Crude from Shell operated Export Bonny terminal. It owns around 50% of the terminal operation, in acquiring crude oil barely enough to meet some its own limited needs to service citizens within its country.
Offers of Bonny Crude from NNPC please treat as RF outright.
NNPC does not own export concessional right to offer Bonny Crude from the Shell operate terminal.
NNPC Sells refined petroleum products and Gas locally . Ironically through MMPC It also imports a massive amount of fuel (around 30 million litres daily of petrol alone ) Nigeria’s President Goodluck has ordered the NNPC to fix up it 4 refineries within 24 months to halt increasing importation of such (Petrol,as well as other fuels such as 12 ML Kerosene, 18ML Diesel and 780 MT Cooking Gas) Considering that Nigeria in now considered the 2nd largest crude exporter, this shortage is now forcing higher amount of imports.
NNPC does sells Export Qua Iboe Crude oil from oil fields of Angola piped under sea to Nigeria QIT Terminal located at Kwa Obe (River) facilities Nigeria. Accordingly it does sell export crude that it cannot refine locally. Qua Iboe Crude oil parcel sizes are normally about 950,000 barrels, but up to 2 million barrels can be loaded. Maximum loading rate is ~50,000 barrels per hour through a 42-inch loading line to the SPM (Single point mooring) Exxon Mobil, as field operator, holds 40% interest in the field production mix with the Nigerian National Petroleum Corporation (NNPC) having the remaining 60%. NNPC DPR (Department of Petroleum Resources ) Issues to Selected Authorised Sellers a Letter of Authority via NNPC sub branch MMPC to Identify real offers made .No verifiable type of letter means no Authority to sell.
Kerosene if you able to secure such, then do so and make an OTS for FTN- Selling such to Nigeria is not a bad idea - even as a counter deal swap (Crude for Kero)
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In a nutshell- Not fully defined-The time come for SMICE to expand upon its premises-USA Goods are / will become highly wanted products by force of sound economics and not because price. USA economic problems is directly related to the Trade deficit and decline of Exports. China Cannot do well , what USA does well at the same time- But China does (did ) do well selling its exports to USA at cost to USA own heavy manufacturing base- Something "has to break." USA and Europe imports are slowing down- Such imports from China represents 18% and 22% respectively. China therefore needs to find new customers in emerging markets or it too will suffer- as it's own inflation rate is already 3% higher than that of China. USA is actually asking China to accept more USA imports,regardless of price of such because in fact China has an obligation to protect its own USA Bonds /Currency held investments held exceeding 1.3 Trillion dollars. In other words USA debt to China may force China to back off importing some goods from usual others and actually import more USA products to protect its own investment or face crippling rise in cost of it own living. In all It's going to be a busy 2012/2013 year for FTN exporting is best assumed. It seems that the world has changed - It only seems that way. Exports will needs to still remain relevant more so than ever no matter the economic situation is now becoming very apparent.Everyone needs to come back to the basics of Exporting. Australia (and perhaps Canadian) economy is safe for the mean time only- while demands for resources remain stable, unless the Chinese start dumping some of its usual resource contracts to favour buying USA minerals , even it it means paying a higher price.
FTN exporting envisage that a great trading period is ahead- which may actually set the Agency once and for all. Those who are ready for ride -make sure to stick to the strict doctrine.
I will be preparing an in depth "Must do" white paper for all registered smice agents to follow intently- I will have no tolerance nor time to waste on obvious mistakes in procedures. I will send such directives directly to each registered members November - in getting ready for 2012. We will be trading in all possible products including FCL for all FTN headed deals. Please do not take notice of any new website pages in restricted site as I play around creating HTML pages.
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All members please read:
Bob the Pizza maker goes to Mexico or Philippines- invest a few hundred dollars on leasing government land at one dollar per acre per 99 year lease, that use to /may still / contain minerals .Bob opens a 2 dollars company and registers his MINE and a set up a great looking website -
Bob the Pizza maker in now Bob the MINE owner. Total expense to date - 500 dollars.
Bob the nine owner now goes on his land and dreams of becoming the next BHP. He digs around and finds some iron ore and a little spec of gold on his land. He takes such to the nearest SGS lab and ask if they can analyse such for him. Cash strapped SGS who now have sub offices in every nook and cranny world wide with a little machine to test products (who would never do such 15 years ago ) will now accept a few hundred dollars to analyse the rock and tiny spec of gold and ISSUE a formal SGS certificate on each
As soon as the unsuspecting intermediary asks for ..Continued restricted download
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9th August 2011: EXW deals.
Advance traders: FYBR Addition to what is already specified.
Can an intermediary apply to trade in EXW deals - The immediate answer is NO.
The long term answer is perhaps YES! If the intermediary is well experienced in procedures or has a well informed mentor to lean upon. The application to trade EWX is easily understood but difficult to enact .
The first non negotiable basis in considering a supplier EXW offer is that they MUST secure and produce the Export permit, Certificate of Analysis , Invoice and “all other permits that may be required to expert goods”, before they can collect on the DLC.
The named place where the goods will be delivered to - I.e: Factory floor is not good enough ideal. The application calls for ‘delivery to the buyer in good order as per contract.”
Full advice in restricted PDF form to be advised later today.
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FAQ will only contain trivial matters so check once or twice per week- follow ticker on SMICE page to be informed when actual addition to download or FAQ is apparent/added, saves time to in having to log in. Please note: All those current members who have received new download page passwords - the 'No copy " password is also the print password. PDF had changed their restriction protocol, now only needing the one copy/print password. Faded grey members name at bottom of list at any time on members registration page means 5 days is given to reply to active status before listing is taken off. If you see your name in grey , just let me know that your are still trading , and another "few" months at a time listing will apply. For purpose of understanding all members will have a validity date from now on. No contact with FTN will means registration will be taken off at validity date.Save me having to check up on such when required. Highly independent trader may also be removed. Only those interaction with FTN on at least every few month basis will remain as listed whether advanced traders or new traders. Only mentored and selected WAPI agents are excused from this protocol for at least one full year since joining .I tried this application earlier in the year - alas I'm too soft- this time I will be tougher. Note for clarity- Anyone who has ever provided an OTS/RFQ to FTN recently (2011) is stored in my hard drive,( 95% have been trashed outright from day one going back since 2005) no such information will ever be used by me knowingly , unless I first make contact with the person advising such to me is my assurance and personal guarantee given perpetually-My intention was always to give up my time teach those who wanted to learn and nothing more - Thanks DP
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