Counterparty due diligence (KYC / KYB)
Before transacting, 3FB Energy & Trade verifies the identity, ownership and standing of its counterparties. This includes corporate documentation, beneficial-ownership identification and verification of signatories and authority to contract.
- Know Your Customer (KYC) and Know Your Business (KYB) checks
- Identification of beneficial ownership
- Verification of corporate documents and signatory authority
- Confirmation of banking and trade references as appropriate
AML and source of funds
3FB Energy & Trade applies anti-money-laundering (AML) procedures consistent with international commodity-trading practice, including consideration of source of funds and the commercial rationale of a transaction.
Sanctions screening
Counterparties, vessels and, where relevant, the origin of goods are screened against applicable sanctions and restricted-party frameworks. Transactions that cannot be cleared are not progressed.
Anti-bribery and anti-corruption
3FB Energy & Trade does not offer, pay, solicit or accept bribes or improper payments. The company expects the same standard from its counterparties and intermediaries.
Transaction documentation and inspection
Physical transactions are documented with the commercial and shipping paperwork that international trade relies on, and cargoes are subject to independent inspection on quantity and quality.
- Commercial contract on Incoterms 2020 terms
- Bill of Lading, Certificate of Origin and quality/quantity certificates
- Independent inspection by recognised inspection companies
- Documentary trade finance such as Letters of Credit
Transactions subject to compliance review
All enquiries and transactions remain subject to compliance review, satisfactory due diligence and definitive written agreements. 3FB Energy & Trade may decline or discontinue any transaction that does not meet its compliance requirements.