Meetings and Trips to Close a Deal
Many times a buyer will express their desire to close the deal and will schedule flights, cars and hotels. This is very important when going to meet the seller of a commodity, be it sugar in Brazil or coal in Russia. The problem arises when the buyer is a no show. This can be devastating for us as we will travel with the customer as well and if they are a no-show this is a huge waste of time and money. For this reason we have certain fail-safe systems in place. First, we have a no-show agreement that needs to be signed by both parties prior to scheduling any type of travel to meet. This document ensues a penalty fee if either party refuses to show up to the meeting. The fee ranges from the commodity in question and also the amount to be purchased.
There are also FBI and ICCC papers that need to be signed that ensure the buyer is real. This is due to the fact that when a buyer does not perform after us handing back an SCO or other compromising document the buyer will be administered to the global black list which taints the reputation of the buyer forever among the industry sellers.