COMMODITY BROKER CHECKLIST

COMMODITY BROKER CHECKLIST
Broker Duties
Verbal Agreement on Price
1. Has the buyer shopped around? Yes No
2. Has the buyer received price quotes? Yes No
3. Are the buyer's price quotes realistic? Yes No
4. Has the buyer's best price quote been verified? Yes No
5. Is the buyer satisfied with the price quotes he has received? Yes No
6. Is the buyer ready to make the purchase? Yes No
7. If we beat the buyer's best price quote, will the buyer buy, today? Yes No
8. Did you explain to the buyer that the PB insurance will be 2%? Yes No

Review Documents
1. Is the buyer a broker? Yes No
2. Can the buyer pay? Yes No
3. Does the order have product specifications? Yes No
4. Is there a company seal? Yes No
5. What did you learn, from the seal?

NCNDA
1. Have all brokers signed the NCNDA? Yes No
2. Has the buyer signed the NCNDA before a notary? Yes No

IMFPA
1. Have the brokers agreed on commission split? Yes No
2. Have the brokers filled out their bank account numbers on the IMFPA form?Yes No

Which of the following do you have? LOI ICPO
1. Do you think the documents were carefully prepared? Yes No
2. Do the documents appear to be prepared by a real buyer or a broker?
Yes No
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Duties at Seller's End
FCO or Draft Contract
• Broker's Commission
• Performance Bond
• Product Specifications
• Shipping Deadline

Final Contract
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