ABSTRACT
FTN Exporting examines hundreds of offers every week. Most have been simply passed down a long chain of intermediaries, all of whom believe that the goods are real and available for purchase. The primary intermediary agent (PIA) must ensure that the goods being offered actually exist and are ostensibly available for sale. The method of trading means that the PIA buys products that have fixed and reasonable rate of commission applied to them and that all transactions commence in a safe and workable way. PIA has to obtain relevant delivery documents and present them to the end buyers issuing bank. To carrier, the term delivery means delivery of the physical goods, because the carrier takes physical possession of the goods on board ship. The carrier's position, unlike intermediarys, is very clear in, for example, a Cost, Insurance and Freight (CIF) deal. Spot deals are unsuitable for intermediaries, because of the constraints of the way in which intermediaries must conduct business.
