How to do a proper deal

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  • Publicado : 1 de febrero de 2011
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HOW A DEAL IS DONE PROPERLY

As per FTN’S Doctrine.

1. Intermediate “BUYER” secures product from a Supplier (Quote). Sourcing intermediaries must disclose such Supplier to BUYER by “SteppingBack.” In return BUYER secures and protects their interests (Commission). One MUST never accept an offer issued from another intermediary Seller. 2. Intermediate “BUYER” confirms Quote as BUYER - Asksfor an offer. 3. Offer is advised then considered by BUYER during the offer validity period. 4. BUYER now issues a - Intermediary Payment Guarantee (IPG) to all intermediaries being protected all theway to the Supplier (String Contract). 5. BUYER keeps everyone on the suppliers side involved in the deal. 6. BUYER designates one person on the supply side to advise other intermediaries of the deal.BUYER is doing the deal and can’t spend time explaining every move to sourcing intermediaries involved. 7. The Intermediate “BUYER” now reverts to become a “Seller” (BUYER) but only if he thinks hewill be able to accept the offer as firm and final. 8. Intermediate “BUYER” sources / secures only “End Buyer” (EB), by once again evoking “Stepping Back Procedures”. 9. EB was disclosed by otherintermediaries to BUYER, now acting as SELLER, Issues IPG to this side of the deal per above buy side application. 10. BUYER IN NOW THE INTERMEDIATE “BUYER AND THE SELLER” AND HAS FULL SUPPLIER AND END BUYERDETAILS. BUYER ALSO HAS ALL DETAILS OF ALL INTERMEDIARIES ON BOTH “SIDES OF THE FENCE” 11. End Buyer (EB) gets an offer from the Seller (BUYER) as per the Sellers terms, via the nominatedintermediary on the Sell side. 12. EB accepts offer as legally binding subject to contract from Seller (BUYER). EB sends signed offer to nominated Intermediary, who checks it, then passes such to BUYER – it’sthe job of the nominated primary intermediary (PI) to keep all other intermediaries on sell side fully informed on the progress of the deal. 13. BUYER issues contract. EB signs draft contract from...
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