Credible research has shown that, while virtually every supposed crude oil retailer who would go to a potential crude consumer to obtain business, could almost ALWAYS abundantly forswear heaven and planet that he, or perhaps the crude oil he professes to be selling, is “totally trustworthy, reliable, genuine, authentic, and straightforward,” virtually every PURPOSE, CREDIBLE EVIDENCE available, on the other hand, provides a completely opposite and contrary FACT – specifically, that the overwhelming majority of the supposed sellers and their offers (indeed, upto the amount of 99.999999%, based on one survey) are totally fake, bogus, fraudulent or not legitimate.
MASTERFULLY FORGED & FALSE DOCUMENTS ARE AT THE HEART OF THE ELEMENTARY/BUYING SELLING SCAM BUSINESSES
The main instrumentality through which these fraudulent con artists and raw “sellers” operate or perpetrate their con game, is the use of skillfully cast or false documents. Such fake and phony “sellers” – or, at the least, the last word masterminds who come and stand behind the system – are notorious to be master forgers and excellent copiers of every conceivable legitimate refinery and government agency documents related to raw sales or purchases. In deed, in accordance with authorities, so outstanding at this game are these criminals, the papers they provide to prospective customers tend to be so strikingly genuine and real-seeking they are often ordinary complicated, if not impossible, for almost all-but one of the most skilled of file validation experts to instantly identify from the real and traditional ones.
As one record by the Fraud Watch International summed it up, “Victims [of such fraud] are often certain of the authenticity of Advance Fee Fraud schemes from the forged or fake documents bearing seemingly standard Nigerian government letterhead, seals, together with fake letters of credit, payment schedules and bank drafts.”
The U.S. State Department’s Office of International Narcotics and Law Enforcement Affairs, in a report titled “Nigeria Advanced Fee Fraud,” describes the papers employed by the Nigerian Advanced Fee Fraud (AFF) or 419 perpetrators, as “standard-looking paper with proper government seals, stamps, and signatures,” whose excellent, it says, has “developed through the years, from poorly handwritten letters to more professional products organized on word processors. Word processors also allow AFF criminals to build more words.” It gives the “AFF criminals include college-qualified specialists who are the top on earth for nonviolent spectacular crimes.”
THE PRINCIPLE PROBLEM: FAILURE BY BUYERS TO VERIFY SELLERS’ CLAIMS & DOCUMENTS
The idea is the fact that, largely in result of the above mentioned fact, for considerable international customers of Nigerian crude oil, the single most significant and hardest and hazardous issue they face in the open market, is now often the affirmation and confirmation of owner’s claims about having a traditional primitive allocation and/or its current availability, and the confirmation of the proofs and papers submitted by them to get these states. For some consumers, undertaking that process is often dreaded and viewed as something fraught with enormous risks and questions that should only be threaded together with the utmost caution, and the best care and deliberation.
CUSTOMERS’ “FAVORED” EVIDENCE & PROOF OF RELIABLE SUPPLIER TODAY – A2% PB
Since proof and proof of such files from retailers are usually so very hard and dicey, most such global crude oil consumers seek, thus, to purchase JUST from dealers who will offer them what they look at the safest, many real, and many easily reliable type of evidence and proof of credibility with a seller. And what is this “preferred” proof and research that a lot of consumers would rather have? It’s basically this – the provision by a seller of a 2% Performance Bond (PB) for the buyer.
Check performance bond
MOST DOCUMENTS OR PROOFS BY NIGERIAN SELLERS ARE VIEWED WITH SUSPICION
In deed, nowadays, the same dilemma of common inability to definitively authenticate legitimate crude allocation or supply, now pervades also situations where “concrete, physical” PLACE inspection has supposedly been made. Plus some buyers discover that perhaps this cautionary advice by Nelson, the customers should “insist the ATB (Authority To Table) from your vessel for examination originated from the captain of this boat,” could often nearly work any more in many situations today.
In a TTO package, for instance, the actual fact of the customers’ representatives boarding the vessel to produce an “evaluation” or “confirmation” of the “filled” vessel, is frequently no further an assurance that the purchase is automatically genuine or reliable. Nigerian con men and 419ers who operate in the crude oil industry, have been known to assist fraudulent boat administrators and captains or con men disguised as team of the Shell/JV terminal operators. And Boats established as “pregnant” (i.e., loaded) also from the customer’s representatives and his designated SGS personnel asked to return aboard the vessel on a presumed ship “captain’s” ATB report, have already been regarded as actually established by fake ship operators and ship managers and “captains”; and in such cases the buyer will only be overtaking a ship and cargo with PHONY Charter Party Agreement executed between the buyer and phony ship manager, without RELIABLE ship owner’s acceptance no reliable shipping documents. And when the buyer’s associates aboard the vessel confirms the vessel is “pregnant,” the buyer pays for the cargo, takes over the boat, along with the con-men easily separate the cash and vanish. The client failures everything because the legitimate boat owner never approved the leader to issue the CPA, along with the important cargo shipping papers used in the transaction are basically fake.
WHAT BUYERS NOW VIEW SINCE THE BEST AND MANY “FAVORED” PROOF AN AUTHENTIC RAW SELLER – A SELLER WHO CAN OFFER BUYER A2% PERFORMANCE BOND
In a nutshell, the idea is that virtually all traditional ways of confirmation and confirmation of crude oil ownership and availability are becoming seriously infected and adulterated by people and fake employees to the stage that numerous international crude oil customers respect these practices as largely unreliable, too hard to confirm, and fraught with incredible risks. And therefore, there has developed one of them what might today be called a “preferred” method for determining a traditional and credible retailer of crude oil in today’s market. Such a supplier is just person who could meet one simple requirement – specifically, is eager and able to supply the customer A2% Performance Bond upfront in a transaction.
What’s a Performance Bond or PB?
That is, in a phrase, an insurance document issued for the seller by owner’s bank or insurance provider offering that the provider will pay a specified amount (a total amounting, in this instance, to 2% of the sum total price of the cargo being obtained) towards the buyer in the event the seller breaches (fails to conduct) the conditions and specifics of the agreement signed from the seller using the buyer. (The Performance Bond could also be placed in the kind of a Cash Bond). The bank or insurance company which concerns the PB acts as the accountable “certainty” of the bond
If your supplier agreements with a customer to put on a 2% PB – and it is ready to actually post that bond together with his bank or insurance company – the seller is, in a phrase, ensuring the buyer that when he were to fail to perform his responsibilities under that contract, his bank or insurance carrier, inside their roles as the “surety” of the connection, will pay the client a total amounting to 2% of the value of the primitive being acquired, regardless.
WHY CUSTOMERS LOVE THE PERFORMANCE BOND GUARANTEE
Buyers love finding retailers who are able to give them UPFRONT 2% Performance Bond, overwhelmingly watching that whilst the “preferred” selection while they consider that the safest, most reliable, most tangible, and most certain and least fraud-susceptible sort of proof and proof credibility by a seller. Many experts contend when a supplier will offer a 2% PB deal – and, what is a lot more important, is clearly able to post the PB since he’s the financial wherewithal to take action – it is practically guaranteed the owner will not fail the buyer within the actual delivery of the deal, but will almost certainly accomplish those responsibilities as developed with the client.
Sam Nelson, expert in gross investing practices along with the author of a primer about them, set it this way: “A contract with these securities in position will be successfully completed. A bonded contract includes a greater amount of success than a low-bonded contract. A bonded contract can be a bankable deal. The people have their money at position and that is reasonable to allow them to perform.”
Along with the Legal Dictionary describes it this technique: “the objective of a connection is to provide an incentive for your fulfillment of an obligation. It also provides reassurance that the responsibility is likely to be fulfilled and that compensation is available when it is not achieved. Performance Bonds guarantee for the satisfactory completion of the project.”