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Thread: MT 799

  1. #1
    Join Date
    Oct 2011
    Posts
    15

    Smile MT 799, MT 999

    HELLO TEMPLAR,
    I D LIKE TO THANK YOU FOR YOUR POSTS WHICH TO MY OPINION ARE REALLY VERY HELPFUL, AS THE COMMODITY TRADING SEEMS TO BE FACING A LOT OF SCAMMERS. I HAVE NOW ONE QUESTION:
    1) IN ONE OF YOUR POSTS YOU SAY THAT WHEN SELLER IS ASKING BUYER TO CONFIRM BG ON PRE-ADVICE, THEN IT SHALL BE USED MT 705, INSTEAD OF MT 799 OR MT 999. SO THIS IS FROM BUYERS PERSPECTIVE TO FEEL MORE SECURED
    2) IN ANOTHER YOUR POST YOU SAY THAT POP SHALL BE DONE ON MT 999 BASIS, AFTER POF IS DONE ON MT 799 BASIS FOR 3 MONTH SBLC. SO THIS IS FROM SELLER'S PERSPECTIVE FIRST OF ALL, BUT ALSO FROM BUYER'S PERSPECTIVE TO FEEL MORE SECURED.
    THE MILESTONE OF ALL THESE CONTACTS IS THAT BUYER IS ALWAYS ASKING FOR POP, AND SELLER IF ALWAYS ASKING FOR POF. AND AS IT SOUNDS LOGICAL POF SHALL BE DONE UPFRONT, BUT BOTH TO BE DONE SIMULTANEOUSLY.
    THEREFORE IN ONE CASE YOU SUGGEST MT 799 OR 999 AND IN SECOND CASE YOU CATEGORICALLY REJECT IT, AND CONSIDER SUCH PROPOSITION AS FRAUD.
    IT WOULD BE INTERESTING TO HEAR YOUR PROFESSIONAL OPINION, HENCE IN GENERAL I REALIZE THAT THERE SHALL BE BIG DIFFERENCE BETWEEN SBLC 3 MOTH AND BG PRE-ADVICE, FOR WHICH I BEG YOU PARDON TO DO NOT BE SO NAIVE. ALSO MAY I ASK YOU IF YOU RESPOND ON THIS MESSAGE BY CC TO PERSONAL MAILBOX HERE. TNX/RAUL

  2. #2
    Join Date
    Jun 2009
    Location
    Akko
    Posts
    5,214
    A MT 760 pre advise is MT 705.

    This is only upon contract performance.

    MT 999 is a free format message and PoP is a set of verifiable documents, that

    is made up of a series of contracts and permits that will lead to to fulfillment of

    the sales and purchase contract.

    MT 799 is a free format message within the LC/BG/SLC 'MT 7XX' range and is

    tied to trade contracts.

    That being so, without a contract in place, it would be a joke to use it and

    the banks compliance will laugh the account holder out of the bank.

    This is the standard norm in business and to do a 'DEAL' one has to

    fly there, meet all parties involved, tour the factory/smelter/refinery before

    any deal can be done.

    The internet is a dangerous place and that's why we are here.
    I tego arcana Dei !

  3. #3
    Join Date
    Oct 2011
    Posts
    15
    HELLO TEMPLAR,
    IF THE THINGS WOULD BE SO EASY, THEN WE ALSO WOULD NOT BE HERE. THE CASE IS THAT MAJORITY OF THE OFFERS COME FROM INTERMEDIATORS. SECOND POINT IS THAT THERE ARE REALLY NON-SILICITED, SINCE WE ARE SEARCHING FOR THEM (MAYBE THIS IS STILL QUESTIONABLE AS INTERNET GIVES THE POSSIBILITY FOR THE SCAMMERS TO DISTRIBUTE THE FRAUD PROPOSALS IN AN ACCELERATED WAY). SO WHERE IS THE PROBLEM? THE PROBLEM IS IN SECURING THE COMMISSION IF ITS TRUE OFFER. SO THE INTERMEDIATOR TRIES TO FIX ITS COMMISSION, AND IN GENERAL WAY OF BUSINESS THIS GOES IN THIS WAY: SELLER OFFERS GROSS/NET DISCOUNT, WITH THE DIFFERENCE BEING SHARED BETWEEN THE SELLER'S SIDE INTERMEDIATORS AND BUYER'S SIDE INTERMEDIATORS. SO THE INTERMEDIATORS DEPEND ON THE BUYER WHICH MUST PAY NOT ONLY TO THE SELLER OF THE COMMODITY BUT ALSO TO THE INTERMEDIATORS, OF BOTH SIDE. YOU MENTION ABOUT CONTRACTUAL AGREEMENT BEFORE ANY BANK MOVEMENT, AND ABOUT SITE VISITS BEFORE ANY CONTRACTUAL AGREEMENT. THAT IS RUDICULOUS, SINCE ANY VISIT BEFORE CONTRACTUAL AGREEMENTS MEAN WITHDRAWL INTERMEDIATORS FROM THE DEAL TO BE HAPPEN, AND ANY CONTRACTUAL AGREEMENTS THUS SECURING THE INVOLVEMENT OF THE INTERMEDIATORS UNDER NCNDA/IMFPA OR ANY OTHER FORM ARE HARDLY POSSIBLE BEFORE BUYER PRESENTING POF AND SELLER PRESENTING POP.
    THAT IS THE CASE, AND I DO BELIEVE THAT THERE ARE GOOD GUYS AT BOTH SIDES OF THE BORDER, AS WELL AS THERE ARE OF COURSE THE BAD GUYS. BUT IN ORDER TO ADDRESS THE CHALLENGE WHICH COMBINES US IN THIS INTERNATIONAL TRADE INTERNET WORLD SOMEONE NEED TO REALIZE THE MOTIVES OF ALL THE HONEST PLAYERS.
    PLEASE TELL ME IF I MISS SOMETHING HERE. THANKS. RAUL

  4. #4
    Join Date
    Jun 2009
    Location
    Akko
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    Many deals are struck between bankers as both sellers and buyers have

    bankers who can make the introduction.

    Example:

    If you had 50 million in Standard Bank and wanted to buy iron ore/copper/bauxite etc,

    they can put you in touch with their customers who own the mines.

    Trade secretaries within embassies are another good source and the list goes on

    and not on the internet.
    I tego arcana Dei !

  5. #5
    Join Date
    Oct 2011
    Posts
    15
    - After signing this contract within two days the Buyer will issue to the Seller’s Bank the irrevocable Bank Guarantee for the sum of the cost of 2 (two) monthly parties of the goods and validity for 13 months and 30 days.
    - The transmission of the irrevocable Bank Guarantee should be by SWIFT MT-760
    - The seller within 10 working days after upon receipt the irrevocable Bank Guarantee will issue (2%) Performance Bond of the cost of the monthly party of the goods and will grant the Proof of Product bank to bank.
    -----------------------------------------------------------------------------
    What you can say about these procedures? This is from internet for 3B$.
    The documents are standard set of documents.

  6. #6
    Join Date
    Jun 2009
    Location
    Akko
    Posts
    5,214
    The buyer will loose his pants....

    I tego arcana Dei !

  7. #7
    Join Date
    Oct 2011
    Posts
    15
    HOW? ITS ACCORDING TO WHAT YOU....
    1. CONTRACT
    2. MT 760
    3. POP

  8. #8
    Join Date
    Feb 2007
    Location
    Land of OZ
    Posts
    8,388
    @raul_20. Templar has replied and given some guidance.
    He has given you sound advice.

    We are an anti fraud site and we do not do "due Diligence" checks for businesses, as we do not have the resources to do this.
    We need our resources and members to be directed towards fraud and scammers.

    If you need help with a particular scam we will do our best to help, but we cannot unfortunately do the work that a business advisor would do.

    There are many business and financial advisers who handle this type of due diligence work, as a business man it may be better for you to contact one of them, as you seem to be needing this type of service on an ongoing basis.
    Thank you.
    *What the mind can conceive and believe, it can achieve.*

  9. #9
    Join Date
    Oct 2011
    Posts
    15
    DE MASTER YODA:
    YOUR ANSWER IS VERY LOGICAL BUT IT BREAKS ANOTHER LOGIC (MY); WITHOUT PROPER GUIDANCE OF THE PERSONNEL WORKING ON FRAUD ISSUES ITS IMPOSSIBLE TO IDENTIFY THE FRAUD; AS YOU NOTICED, THE QUESTIONS BY ME TO TEMPLAR WERE BASED ON HIS OWN QUOTES IN PREVIOUS DISCUSSIONS; BUT HIS FINAL SENTENCE TO MY SURPRISE IN PARTICULAR MEANT THAT ITS COMPLETE WASTE OF THE TIME TO BE IN INTERNATIONAL INTERNET TRADING; THE FACT THAT ITS NOT SO IS TOO OBVIOUS AND I THINK THAT TEMPLAR'S APPROACH IS VERY STRAIGHTFORWARD. THAT MEANS THAT WHEN ARGUING THIS SOMEONE SHALL GO TILL END WITH PARTICULAR EXAMPLE. WHEN SOMEONE SAYS 'A', HE ALSO SAY 'B'. AND IN MY CASE ITS REALLY IMPORTANT FOR ME TO KNOW THAT PERSON IS SCAMMER OR NOT. PROBABLY AND THIS IS ALSO FACT THERE IS SO CALLED NAIVE BROKERAGE WHICH MEANS PUSHING FURTHER ALL THE OFFERS RECEIVED BY THE INTERMEDIATORS WITHOUT PROPER CHECKS AND FILTERING; BUT TO MY OPINION BEING EVEN BY 50% SCAMMER IS ALREADY SUSPICIOUS IN THIS INTERNET INTERNATIONAL TRADING WORLD, AS ALL OF US WHO PLACED HIMSELF HERE NEED TO BE NOT WATCHDOGS BUT BLOODHUNTERS.

  10. #10
    Join Date
    Oct 2011
    Posts
    15
    TEMPLAR: IS THIS CONVERSATION CLOSED?

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