We are a mandate for a supplier of Petroleum Products. . . Please note the following to get a mind set of how we work. . .
Due to the nature of the industry and fraud perpetrated amongst the broker community, my supplier has implemented a policy to help mitigate fraudulent activities and protect the company and its relationships. In addition to a ICPO and a bank soft probe authorization my supplier is requesting some additional information from new clients. We have been getting so many ICPO's with full banking that are fraudulent that we are now asking for additional information to validate new buyers. What we are now requesting in addition to an ICPO is an Attorney letter / affidavit stating that the buyer is the Attorney's client, that the buyer has the funds to purchase the product requested in their ICPO and that the buyer has purchased large petroleum allocations in the past. We're not looking for specifics on who they've done business with or the amount of funds they have in the bank. My supplier just wants a 3rd party validation from the buyers Attorney that the buyer is capable of purchasing the requested product in their ICPO.
I do want to reiterate that my supplier does appreciate your desire to do business with us and we want you to realize that even though it may be inconvenient for a capable buyer to request this letter from their Attorney that ultimately it will provide them with better service from the supplier. Because of this requested validation letter we are able to cut down on the amount of fraudulent ICPO's that come through are doors and can spend more time dealing with the real buyers. Buyers that thoroughly validate themselves as a capable buyer will be in a much better position to purchase product from a real supplier.
Due to the nature of the industry and fraud perpetrated amongst the broker community, my supplier has implemented a policy to help mitigate fraudulent activities and protect the company and its relationships. In addition to a ICPO and a bank soft probe authorization my supplier is requesting some additional information from new clients. We have been getting so many ICPO's with full banking that are fraudulent that we are now asking for additional information to validate new buyers. What we are now requesting in addition to an ICPO is an Attorney letter / affidavit stating that the buyer is the Attorney's client, that the buyer has the funds to purchase the product requested in their ICPO and that the buyer has purchased large petroleum allocations in the past. We're not looking for specifics on who they've done business with or the amount of funds they have in the bank. My supplier just wants a 3rd party validation from the buyers Attorney that the buyer is capable of purchasing the requested product in their ICPO.
I do want to reiterate that my supplier does appreciate your desire to do business with us and we want you to realize that even though it may be inconvenient for a capable buyer to request this letter from their Attorney that ultimately it will provide them with better service from the supplier. Because of this requested validation letter we are able to cut down on the amount of fraudulent ICPO's that come through are doors and can spend more time dealing with the real buyers. Buyers that thoroughly validate themselves as a capable buyer will be in a much better position to purchase product from a real supplier.
| Company Name | 5 King, Inc. |
|---|---|
| Business Type | Other |
| Main Products | D-2, Mazut, BG's, Mtn's |
| Total No. Employees | Fewer than 5 People |
| City | Fort Wayne |
| Province/State | Indiana |
| Country/Region | United States |
| Company Website | http:// |
| Contact Person | Mr. Gerald King |
| Telephone | 1************3 View all, please login |
| Fax | 1 |
| Street Address | 6209 Constitution Drive |
| Zip Code | 46804 |
| sell123 URL | http://www.sell123.org/company/United-States/898446.htm |
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