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Following information of this page cover most important questions concerning how we deal.

1. First step

For buyers seeking any underlisted petroleum product, the first step is to confirm the buyer's logistical readiness. This is done by previewing the buyer's Tank Storage Agreement (TSA) or Charter Party Agreement (CPA), as applicable. Previewing the TSA or CPA at the outset helps confirm that the buyer is serious, has arranged proper storage and is logistically ready to receive the product. This protects against fraudulent, time-wasting joker buyers and ensures the buyer can actually receive the product.

For Gold, we work with vetted buyers of GLD (Good London Delivery) gold bullion who have verifiable proof of funds (bank to bank), and we seek to engage with only genuine capable sellers of gold bullion with verifiable proof of product (bank to bank). The first step is a Lawyer's Letter of Attestation from the seller, issued by a reputable law firm with at least five qualified lawyers in chambers. This mandatory requirement forms part of our due diligence process to ensure a secure and credible transaction. Please refer to our sample Letter of Attestation for exact wording and format.

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2. About TSR and Q88

We do not request TSR and Q88 from the outset. These are generally required later in the process. Exact timing will follow our assigned refinery's written procedures.

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3. CPA (Charter Party Agreement)

- The CPA is a legal contract between the parties and the shipping company that sets out the terms of chartering the vessel for fuel transport.
- It shows that the buyer controls the vessel logistics (e.g., tanker chartered to take over or transport the cargo at sea).
- It allocates freight, demurrage, laytime and other shipping costs, and supports transparent coordination of shipping, ownership transfer and bank‑to‑bank compliance.

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4. GLD (Gold): For now, we only facilitate/broker GLD (Good London Delivery), NOT DORE BARS. Please view workflow chart.

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5. Petroleum products handled

- EN590 10ppm: Immediately available
- Jet A1: Immediately available
- D6: Available on request
- LPG: Available on request
- LNG: Available on request
- Naphtha: Available on request
- Polypropylene: Available on request

At present, we do not facilitate or broker BLCO or any other crude oil deals.

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6. Specifications, quantity and inspection

- Specifications: Clearly stated in our SCO/FCO and in line with international standards and regulations.
- Quantity: From 50,000 metric tons upwards.
- Quality/Quantity testing: Typically by SGS (preferred), Intertek or Saybolt.

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7. Why work through us?

Our CEO is an experienced Lawyer, Corporate Governance Professional and Risk Management Expert. This background places us in a strong position to facilitate and broker complex deals and to filter out fake documents, people and plans.

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8. KYC and AML

All buyers, sellers and intermediaries must complete Know Your Customer (KYC) and Anti‑Money Laundering (AML) checks before any transaction proceeds. This ensures transparency, regulatory compliance and protection for all parties.

Typical requirements include:

- Top Table Meeting (TTM), virtual or physical where possible
- Valid company registration documents
- Proof of ownership and corporate structure
- Identification for company directors
- Tax compliance documents
- Recent trade references

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9. NCNDA

A Non‑Circumvention, Non‑Disclosure Agreement (NCNDA) is usually put in place as early as possible to protect the interests of all intermediaries and principals.

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10. Procedures and transaction types

Refinery procedures are non‑negotiable and binding, although pricing may be negotiable. Our facilitation ensures all parties strictly follow refinery procedures. Detailed petroleum and GLD workflows are provided separately and should be read carefully.

Refinery Procedures /SOP?
PDF Version
Word Document Version
 

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11. Proof of funds (POF) and product verification (POP)

**Petroleum products:**
- Proof of funds may not always be requested upfront, but buyers should be prepared for possible bank‑to‑bank verification.
- Proof of product (POP) and verification will follow the refinery's prescribed procedures.
- No upfront fee payment is required at any stage; this will be clearly reflected in the refinery's procedures.

**GLD:**
- Proof of funds and product verification are conducted strictly bank‑to‑bank, as detailed in our GLD Workflow/Procedure.

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12. Payment methods

For the safety of buyers and sellers, we strongly recommend secure international payment instruments, such as:

- SBLC (Standby Letter of Credit)
- DLC (Documentary Letter of Credit)
- MT103 (SWIFT wire transfer)

These are globally recognized and help reduce transaction risk.

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13. IMFPA and commissions

Commission and IMFPA terms are normally set out in the SPA. We do not sign IMFPA or discuss commission until all counterparties are properly engaged and an active transaction is underway.

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If you feel any important item is missing, please email: kenayeni@kenkonsult.co.za. It will be reviewed and added where appropriate.