|Intermediaries & Brokers - Optimizing your Success with Essex Energy
Neither Essex nor its Title Holder / Sellers will pay an Intermediary.
Therefore it is imperative that you have a direct relationship with your Buyer and be in a position to negotiate your fees with that Buyer.
To that end, the following list of questions will be of assistance to you in properly linking to and qualifying your Buyer prior to initiating contact with Essex. You should attempt to learn as much about your client as possible. And, should you not be able to obtain this information, you place yourself at risk of not being paid by your Buyer.
Are you working directly with the Signatory Buyer, or the Buyer's legal Mandate? If neither, you will need to get to the Buyer directly.
Do you know who the titleholder will be? The person who signs the LOI or ICPO/FCO/Contract should be an Authorized Signer. If not, you must determine who that person will be, as we will not issue Formal Documents to anyone other than the Buyer. The reason for this question is to flush out whether the "Buyer" is really the Buyer.
Can the Buyer provide a Corporate Overview for the Seller's Compliance Review? Do they have a web page? Who are the Principals in the organization? Do you know their name, their title, whether the person you are dealing with can sign on behalf of the organization?
Is the organization buying the fuel involved in a Joint Venture? If so, is the person signing authorized to do so on behalf of the JV? Can you obtain a copy of the JV Agreement, or assure yourself that the person that you are dealing with can sign on behalf of the JV?
Are there other Brokers involved? Who are they and can you get past them to get directly to the Buyer? If not, you must place Essex directly with the broker who is next to the Buyer or drop the situation, as we will not work through Intermediaries only with Buyers.
Is the Buyer's Company organized in the US? If so, what state are they registered in and can you obtain a copy of their registration? ( Perhaps on the web). If the company is not registered in the US, where is it registered and is it possible for you to obtain confirmation of this registration?
Has the Buyer previously closed a transaction and if so, what product was involved and when did that transaction(s) take place?
What financial instrument(s) is the Buyer comfortable working with; specifically what type of financial instrument is the Buyer willing to issue?
Does the Buyer have his own set of procedures to which the Seller must adhere? If so, please send them on their way, as our Title Holder / Sellers control their transactions, not the Buyer. The Seller's Procedures must be followed without change for a transaction to succeed.
Is your Buyer seeking Fixed or Platts based pricing? Do you know their target price (to include what they are going to pay you)?
The more you know about your Buyer; the closer you are to your Buyer; the more "control" you have over the Buyer's information and status; the more likely you will achieve success in presenting your client to Essex.
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