How to verify a sunflower, soybean or palm oil seller
Verify an edible-oil seller by confirming the company in its registry, the refinery or crushing plant behind the offer, independent inspection at loading, and a payment method that protects you, such as an LC. Never pay deposits for containers that nobody independent has seen.
Check this Sunflower oil offer free
Refined sunflower oil, soybean oil and palm oil are traded in containers and in bulk. Buyers lose money mainly through deposits paid for goods that are never shipped. The checks below focus on the seller, the factory and the payment terms.
5 steps
- Check the seller in its registry. Find the company in its official registry and compare the name, number, address and directors with the offer.
- Confirm the factory. Ask for the refinery or crushing plant and confirm with the plant, through its own website contacts, that the seller sells its oil.
- Inspect before you pay. Agree inspection at loading by a surveyor you appoint. For a first deal, consider a site visit at the plant or warehouse.
- Use a safe payment method. An LC opened by your bank, or payment against shipping documents, protects you. Repeated deposits for "factory visits" or "loading slots" do not.
- Check the shipping documents. Confirm the bill of lading with the shipping line and the container numbers with the carrier's tracking.
Red flags
- Repeated deposits before any container is loaded
- A factory visit that keeps being postponed
- A seller with a free webmail address or a new domain
- A price well below the market
- No inspection, or the seller's own inspection only
- An address that is a virtual office
Documents to ask for
- Company registration extract. Recent, with the legal name, address and directors.
- Factory or refinery details. Name, address and website of the plant, confirmed by you with the plant.
- Product specification. Free fatty acid, moisture, peroxide value, colour and packing, as written into the contract.
- Draft contract with inspection and payment terms. Inspection at loading by a surveyor you appoint; payment by LC or against documents.
- Container booking and loading plan. Booking numbers you can check with the shipping line before you pay any balance.
What a sound deal looks like
A sound edible-oil deal has a named factory that confirms the seller, a written specification, inspection at loading and a payment term that ties your money to shipping documents. On a first deal the quantity is often small, and the seller agrees to a site visit or an independent inspection without delays. Each payment step follows a document you can check: a booking, an inspection report, a bill of lading confirmed with the carrier.
Next step: Deal Check, USD 8.88 › · Check the whole deal free ›
FAQ
Is a 30% deposit normal?
Deposits are used, but on a first deal they leave you with little protection. An LC or payment against documents is safer.
How can I check the factory exists?
Confirm it through its own website and registry, and ask for a site visit. We offer site visits at origin (USD 300) where we have a field officer.
Are photos of the oil proof?
No. Photos can be copied. Independent inspection at loading is the proof that counts.
What does the free basic check look at?
The offer wording, the seller's e-mail and website, the vessel and the price against our reference. It shows what still needs a person.
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General information, not legal or financial advice. Vanguard Trade Capital Goods Wholesalers DWC-LLC, Dubai South, UAE · [email protected]