Oil & Gas Trading/ Procurement Process
Due of the tremendous profits that may be made by facilitating the purchase or sale of crude oil and its derivatives, unscrupulous and occasionally downright dishonest entities are lured to the crude oil arena. Source Connection Holdings is a contractor/seller company committed to offering high-quality products. We have access to a few renowned refineries. To ensure that all parties involved have a safe and easy transaction, we thoroughly scrutinise and investigate our connections.
As a reputable contractor company, we meticulously performed exhaustive due diligence on our buyer’s to confirm the legitimacy and authenticity.
Our thorough due diligence procedure includes the following steps:
1. Verification of Seller Credentials: We have confirmed the seller’s corporate registration information, legal standing, and compliance with applicable industry standards. This phase confirms that the seller is a legal entity capable of carrying out its contractual responsibilities.
2. Financial Analysis: We thoroughly evaluated the seller’s financial accounts, creditworthiness, and banking history in order to assess their financial stability and ability to carry out the proposed oil trading activities. This study validates that the seller possesses the financial resources required to sustain the proposed commercial transactions.
3. Track Record and Reputation: We thoroughly investigated the seller’s track record and reputation in the oil trading sector. This rating takes into account their previous performance, successful transactions, and feedback from previous clients, ensuring that the seller has a track record of delivering on their promises.
4. Physical Verification: Our staff physically evaluated the seller’s oil storage facilities to ensure their capacity, adherence to safety requirements, and preparedness to handle the volume of oil mentioned in this offer.
We provide you with the assurance that this full corporate offer is real and that the seller is a respectable and capable business through our comprehensive due diligence process. Because of our commitment to transparency and dependability, we can operate as a reliable intermediary between buyer and seller, facilitating successful oil trading transactions.
As a genuine buyer and seller, the following is a guide to the normal process:
1. All mandated buyers and sellers must register with us, submit identification, and complete registration process. Failure to provide any needed papers to validate a potential purchase attempt may result in an unsuccessful registration. Your information is completely secure, confidential, and will not be shared with any other parties.
2. After successfully registering, all buyers and middlemen will be required to submit an official letter of intent outlining the exact product specifications, delivery location, and so on. Source Connection holdings will not provide pricing on any product until our registration is complete and we acquire a LOI.
3. Once we have accepted the LOI as credible and legitimate, Our team will provide an official Product Information Sheet (soft corporate offer), which will be forwarded to the buyer or intermediary.