Is this ICUMSA 45 sugar offer real?
By the Vanguard Verify desk · Published 2026-10-23 · Updated 2026-10-26
Short answer: a real ICUMSA 45 offer comes from a seller you can trace to a refinery or trading house, at a price close to the market (ICE white sugar No. 5 plus freight and premiums), with proof of product on request and payment by bank instrument such as an irrevocable LC.
Checks
- Seller: registry record, LEI, website on its own domain, real export history.
- Price: compare with the current ICE London No. 5 white sugar price. Offers far below it are a warning sign.
- POP: seller provides proof of product (e.g. warehouse receipt, inspection) on request; buyer provides POF.
- Documents agree: FCO, inspection and bank details all name the same seller.
- Payment: irrevocable LC at sight or other bank instrument; no upfront “procedures” fee.
Red flags
- Massive volumes (e.g. 600,000 MT x 12 months) from a company with no record.
- “Spot” cargo that cannot be inspected.
- Long mandate chains where nobody can name the seller.
Related: How to verify an SGS report.
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FAQ
Who provides POF in a sugar deal?
The buyer provides proof of funds; the seller provides proof of product.
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.