Important for Prospects

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Broker Chain

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We do not work with a daisy chain of brokers. This means if you approach Cangem, you should be direct with your principal (end buyer or end seller). NO exceptions what so ever. Being new in business in not bad but you should do your homework. We receive tons of emails where individuals claim to be "close" to the seller/buyer, but over the years we have understood clearly that being "close" is not being direct. We are not here to teach business to every individual that emails us, please do your homework. It is always difficult to work when there is no transparency. 

Even the most genuine deals fall apart because of brokers. Many do not know the proper procedure and do not do the required due diligence. Almost 99% of the times, brokers do not trust each other and do not want to disclose vital information and are afraid of circumvention. They do not retain the services of a corporate lawyer or trade consultant. Cangem Global will stay away from this disaster at all costs because our reputation is most important to us. We start everything with an in house due diligence. 

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Read more about due diligence here

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Non-Disclosure Agreement

The first thing any amateur broker will pop up is that we have to sign the NCNDA (Non Circumvention Non Disclosure Agreement) and MFPA (Master Fee Protection Agreement). First of all, almost all the NCNDAs and IMFPAs floating in the market are FAKE and not endorsed by ICC. You ought to understand that we do not have any problem with signing NCNDA but it has to be genuine. We only utilize the genuine ICC publication 769 E ( ICC Model Contract ) that can be purchased here.

Any other NCND you see with the ICC logo and mostly titled ICC 400/500/600 is fake. Read the official warning from ICC here. Then there are those who claim to be mandates and then ask for an NCNDA; beware of these individuals and companies. Real mandates never fears circumvention as they are protected by the company who extended the mandate to them. 

Secondly, Cangem cannot just sign the NCND with every individual and company that comes along claiming to be direct with their principal. Be ready with detailed information about your company, website, corporate profile, registered office address, working phone numbers to begin with. Not all but most emails from gmail, yahoo, hotmail etc will be purged.

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Read more about the NCNDAs here

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Proper Knowledge

We will expect you to have proper knowledge about the commodity you inquire. If you lack basic knowledge about the commodity and how it is traded, don't expect us to teach you. We receive many emails from individuals requesting offers for products that do not even exist. For example, many people will say that they have a buyer for JP54 or D6 Diesel, whereas no such commodities actually exist. 

JP54 is essentially a broker slang for aviation kerosene, also referred to as technical kerosene used in turbine driven aircraft. Aviation kerosene referenced as JP54 in reality is Jet A, a less commonly used aviation fuel vs Jet A1 or TS-1 the Russian grade of technical kerosene. No one produces aviation jet fuel JP54. All refineries, around the world, produce Jet A-1, USGC Jet 54, TS-1 (Russia + CIS) only. 99 % of all offers mentioning aviation jet fuel / kerosene referenced as JP54 are fake. 

D6 is Residual Fuel Oil and is of a high-viscosity state. Fuel Oil #6 requires pre-heating to 220-260 degrees Fahrenheit in order to be utilized. Since Fuel Oil #6 requires pre-heating, it cannot be used in small ships or boats or cars. However, large ships and power plants utilize residual fuel oil. There is an incredible amount of fraud associated with Fuel Oil #6 (so called D6) and to avoid obvious risk, we deal direct and avoid broker chains.

D2 is another broker term for Gasoil also known as diesel fuel. Gasoil / diesel fuel grades are based upon the amount or sulfur content. The common grades of sulfur content in diesel fuel include US grade ULSD, Russian grade GOST 305.82, EU grade EN590, 50 PPM low sulfur grade and a standard sulfur grade known as 500 PPM often used for off road use.

We expect you to have knowledge about incoterms, BGs, PBs, LCs and other payment instruments, LOIs, ICPOs, what purpose these documents serve and who can actually issue these documents if at all (Not all documents you come across with stamps and signatures are worth it). 

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We can supply directly from many Asian, Middle Eastern and other refineries. Most refineries do not sell on CIF/CFR basis and don't issue 2% PB and need detailed Information from the end buyer. Some refineries need KYC from the end buyer, to move ahead. They do not issue corporate offers on a piece of paper upfront in any case. Cangem will perform extensive due diligence on the prospect, sometimes in-house, sometimes external.

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In simple words, if you approach Cangem with stories of buyers and sellers that want commodities you don't even have proper knowledge about, we will not entertain.

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The Truth

99% of deals which have a low fixed price are false, are simply scams and there is no product available. A real seller will in almost all the cases only sell with a discount off a real based price for example AG Platts. The deals which sell for a fixed price are mostly spot deals and they have a time window of a few days. Within this time, they are normally sold, however, it happens sometimes that an amateur broker gets access to it and starts forwarding the offer all around the world for months and months after the deal has already been closed. The brokers will insist that the offer is genuine with no idea that commodities have already been sold and delivered months ago.

In any real offer there will never be a huge discount or huge commissions to intermediaries . It NEVER happens. So when you see a huge discount and/or huge commissions to intermediaries, it is more than likely that the deal is fake.

Most of the times, a real seller would never offer "real products" to a broker that cannot even spend a few thousand dollars on a website and uses a gmail, yahoo, hotmail or other free email id, has no verifiable office address and has no or very little online presence. The real seller would call a reputed and responsible multinational like Cangem Global and sell directly through them. 

When an offer starts off with keywords like "Please send pictures, past performance first, LOI to End Seller (no proper seller name), need to sign IMFPA first, We know the seller/buyer through uncle/friend/relative, cannot disclose the seller" you should immediately understand that this means that they don't know the end seller/end buyer or if there is any, they are just forwarding the mail that they got from another broker who in turn got it from yet another broker. They have not done any due diligence even if they know a company who they think is the principal. 

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Cangem suggests you learn the language, and please do not send us the kinds of offers or inquiries that starts off with the above mentioned criteria. Please just purge them or put them straight into a trash can, which is exactly what we would do.

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Professionalism

Cangem only works with those who are willing to put their ego aside. We do not have time to stroke anyone’s ego. We at Cangem Global expect you to respect our corporate policies, our employees, time constraints (do not expect a reply or call on Saturdays and Sundays from our United States office, Sundays from our France office and Fridays from our Dubai office). We expect you to follow the proper procedure and respect the terms and conditions of our principals. If you do not agree, please email us in a professional way. 

Do not ask for past performance documents, it is not only unprofessional but also unlawful because almost all the time, the non disclosure clause protect the SPAs and as such no company should forward documents related to a completely different client and transaction. Also, past performance does not guarantee future performance.  

We expect you to do proper due diligence before forwarding us any document or inquiry. As brokers, facilitators and traders, we feel that it is our corporate responsibility to do proper homework before forwarding anything to our principals.

In a nutshell, we can work with you if:

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1. You have knowledge of the commodity.

2. You are direct with the end buyer/seller.

3. You are willing to exchange principal's details. 

4. You have performed proper due diligence.

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Read more about our Corporate Policies

Global Serving Local

Corporate Governance

Origination​

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The ever-growing correlation between engineering, manufacturing, warehousing, distribution and recycling sectors provides a great opportunity for us. Our team coordinates all the physical and virtual elements that enable the realization of large scale transactions anywhere along the supply chain. Working with our trading partners, the team operates across all potential markets and helps partners to meet their business objectives by providing access to adequate process engineering resources.

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Our Board is responsible for the following key aspects of the company’s governance and performance:

• Financial performance

• Strategic direction

• Major acquisitions and disposals

• Overall risk management

• Capital expenditure and operational budgeting

• Business planning​

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Promoting Corporate Responsibility

Responsibility should be core to any business structure.  It defines how we interact with our clients, our partners and our communities. We understand that our reputation depends on our honoring our commitments, doing what is right and addressing what is not.

Soumare Export manages its activities with the highest regard for the wellbeing of people, places and the environment. The activities we undertake are managed to the highest corporate, environmental, health and safety standards.

In the communities where we operate, be it a long-term project or a short term project, we employ local people to manage and run our business. This helps to create more sustainable businesses. Soumare's approach is always to act responsibly and try its best to be a leader in corporate responsibility. 

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Promoting Environmental Responsibility

We wanted to be a part of the world’s transition towards a greener globe and that is why we have adopted environmental products into our portfolio.

By operating our business in the most efficient and greener way, we at Soumare Export, make sure to do our best in reducing the impact on the environment. Our goal is to work in harmony with Mother Nature and to provide economic benefit to local communities, our customers and suppliers.

We also convey our values of environmental protection to our freight forwarders, truckers, manufacturers, clients and other operations.

Business Development

Business Development

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Our model is based on organic growth and strategic partnerships both for trading opportunities and asset origination. Over the years, our activities have enabled us to develop remarkable insights into the mining, minerals, oil & gas & international trade consulting sectors covering various commodities like coal, iron ore, jet fuel, gasoil, Petcoke etc that are becoming increasingly interrelated. Equally, our strong physical presence throughout the value chain provides us the knowledge needed to carve out a path for our continued growth.

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Partnership Investment

Soumare Export can become an equity investor through joint ventures or a trading partner with long term off-take agreements. We have extensive experience in exports, imports, international freight & local distribution and can provide technical expertise to help develop an asset and realize its potential. By combining our skills with those of the asset owner we can create synergies that ultimately generate benefits for all.

Coupled with our inherent trading expertise, we maximize financial opportunities by looking at assets differently. Soumare Export believes in partnerships. We commit to the relationship as much as to the asset itself.​

Ensuring Ethics and Compliance

Virtually every aspect of the international market today is affected to a greater or lesser degree by regulations covering health and safety, insurance, emission and environmental control, product, cargo and financial crime, international trade and sanctions, banking, exchange and derivatives market rules.

To ensure compliance within such an extensive and constantly evolving regulatory environment, Soumare Export maintains rigorous corporate protocols and a strict compliance program.

We take pride in conducting our business all over the globe with integrity. Soumare Export believes in competition, but we compete fairly and ethically. We comply with the laws and regulations that support fair competition and integrity in the marketplace. We do not hesitate to address and report unfair and unethical business practices.

We keep accurate and honest records. Soumare Export believes that accurate and honest records are pivotal to making sound business decisions and maintaining the integrity of our financial reporting. Our business information, in any form what so ever, must reflect the true nature of our transactions.

We honor our business obligations. Soumare Export believes that if we have to sustain a long-term business relationship, it should be grounded in mutual trust and that is what has reflected throughout Soumare Export’s history. We build and maintain the trust and confidence of our clients and our business partners by conducting business honestly, respecting information entrusted to us and standing behind our commitments.

We treat people with dignity and respect. We achieve our goals through our clients, partners, employees and people who place their trust in us. We provide a safe workplace and value the unique contributions of our global team, enabling our associates to achieve their own individual potential.

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Effective Risk Management

Financial, operational and market risks are an integral element of international trading and projects which cannot be wholly avoided, but they can be planned for and managed in a responsible way. Soumare Export maintains effective risk management systems and considers them pivotal in day-to-day business.

Our risk management policies are regularly overviewed, market exposures are analyzed daily, and our procedures are continuously reviewed and updated. Soumare applies a range of risk management tools to minimize overall exposure at any given point in time. 

As a supplier, trader and exporter of thermal coal, iron ore, oil & petroleum products and as an international trade consultant, we work closely with various government agencies and private inspection companies to ensure the smoothest operations and minimize risks.

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Health & Safety

Ensuring Health and Safety

Soumare maintains clear safety, health, environmental, human rights and community expectations within our corporate governance structure. We are committed to the following principles of health and safety and make sure that our employees, partners and clients also act in accordance with them:

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• Prevention of Injuries, Incidents & Occupational Illnesses: We believe that injuries, incidents, and occupational illnesses are preventable and that incidents, near miss reporting and investigations are of fundamental importance in their prevention.

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• Compliance with Laws, Regulations & Soumare Export Standards: We have clear safety, health, environmental, human rights and community expectations within our corporate governance structure. All Soumare Export entities are required to adhere to these corporate expectations and to comply with all applicable laws and regulations.

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Leading By Standards:

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• Continuous Improvement: High standards required in all areas of safety, health and environment require continuous improvement and commitment by everyone.

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• Personal Responsibility: We all have a personal responsibility to prevent harm to others, the environment, and ourselves as well. Safety, good health and concern for the environment are equally important away from work and are always promoted in our seminars and training.

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Read about Soumare's Corporate Policy.