How to verify a commodity supplier or buyer is a real company
By the Vanguard Verify desk · Published 2026-10-23 · Updated 2026-10-23
Short answer: confirm the company exists in an official registry, that the person you are dealing with really works there, and that every document (FCO, SGS, bank paper) matches the same company, address and bank. If any one of these does not match, stop before you sign or pay.
The 7-step check
- Registry. Search the exact legal name in the official company register of its country (e.g. Companies House UK, Receita Federal CNPJ Brazil, MCA India, DED/free-zone registers UAE). Note registration number, date, status and registered address.
- LEI. Search the name in the free Global LEI Index (gleif.org). An ACTIVE LEI means the company was validated by an LEI issuer. A LAPSED LEI is not proof of fraud, but ask why.
- Domain and email. A trading company should email from its own domain. Check the domain age; a domain registered weeks ago for a company claiming 20 years of exports is a red flag.
- People. Confirm the signatory is a director or has a written mandate on company letterhead you can confirm by calling the company switchboard (number from the registry or the official website, not from the email).
- Documents agree. Company name, address, product spec, quantity and bank details must be identical on the FCO, SGS/inspection report and bank paper. Call the inspection company to confirm a report number.
- Who proves what. The buyer shows proof of funds (POF). The seller shows proof of product (POP). Never send POF to an unchecked seller, and never pay a fee in advance to “release” a product or an SBLC.
- Bank paper. Verify any SWIFT message (MT799, MT760) bank-to-bank through your own bank. A PDF or screenshot of a SWIFT message proves nothing.
Red flags
- Advance fees for “procedures”, “legal fees” or “SBLC leasing”.
- Prices far below the market for ICUMSA 45, EN590, gold or cement.
- Free email addresses or a domain that does not match the company.
- Pressure to sign within hours.
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FAQ
Is a company registration certificate enough?
No. Fraudsters copy real certificates. Check the registry yourself and confirm the person, address, bank and documents all match the same company.
Who provides proof of funds?
The buyer provides proof of funds (POF). The seller provides proof of product (POP).
Can I verify an SGS report?
Yes. Contact the inspection company directly using contact details from its official website and quote the report number.
Vanguard Verify is run by Vanguard Trade Capital Goods Wholesalers DWC-LLC, Dubai South, Licence 14282. This answer is general information, not legal or financial advice.