Bassie
Markets For Buyers For Suppliers Approach Contact
desk@bassie.co.uk offers@bassie.co.uk
Language
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Approach

From enquiry to settlement.

Bassie operates a five-stage workflow. Each stage has a defined deliverable, a defined document, and a defined point at which the file either advances or returns to source.

Workflow

The work, in five stages.

A clean transaction is a sequence of small qualifications. The first cargo is the slowest; subsequent lifts move on documentation that has already been pressure-tested.

  1. Stage 01

    Receive & scope

    Product, volume, incoterm, delivery window and target pricing basis received from either side. The desk forms a private working file and confirms whether the requirement is in scope before any onward activity.

    Term sheetWorking file
  2. Stage 02

    Qualify counterparty

    KYC, UBO disclosure and consolidated UK / EU / OFAC sanctions screening on every named party. Buyer side: proof of funds (MT799 / RWA / BCL). Seller side: proof of product (refinery letter, mill certificate, recent SGS).

    KYCUBOPOFPOPSanctions
  3. Stage 03

    Match & document

    NCNDA executed between desk and the introducing side. Soft offer issued; ICPO returned. Draft SPA prepared with payment instrument language and inspection regime aligned. IMFPA referenced inside the SPA addendum so the fee structure travels with the contract.

    NCNDASCOICPOSPAIMFPA
  4. Stage 04

    Execute & lift

    Payment instrument posted (DLC MT700 confirmed, SBLC, escrow). Performance bond issued where contracted. Loading, inspection and discharge per the SPA terms with SGS or Intertek as nominated. ICC URC 522, UCP 600 and Incoterms 2020 govern as applicable.

    DLC MT700SBLCSGS / IntertekPerformance bond
  5. Stage 05

    Settle

    Fee paid on the settled lift, per the IMFPA. The desk stays engaged for follow-on cargoes, term extensions and any recovery on documentary discrepancies. Files do not close at settlement; they go quiet.

    IMFPA paymentTerm renewal
Documentation

Standard contract architecture.

Bassie operates on standard market documentation — known to both sides, governed by ICC rules, and readable by any first-tier bank. Bespoke language is the exception, not the starting point.

Seller-side

  • Refinery / Mill Letter of AuthorityIssued on letterhead, addressed to the named buyer or buyer mandate.
  • Authority-to-Sell / Mandate LetterProducer corporate resolution authorising the introducing party.
  • SGS or Intertek Quality ReportIssued within 90 days, current cargo or current production batch.
  • Certificate of OriginWhere required for buyer-side import compliance.
  • Performance BondWhere contracted, typically 2% of cargo value.

Buyer-side

  • Irrevocable Corporate Purchase Order (ICPO)Signed by the named buyer principal or authorised representative.
  • Proof of FundsMT799, RWA, BCL or recent bank statement from a top-tier issuing bank.
  • Documentary Letter of Credit (DLC)MT700 irrevocable, confirmed where contracted, UCP 600 governed.
  • Standby Letter of Credit (SBLC)ISP98 or UCP 600 governed, depending on counterparty preference.
  • Buyer KYC PackCertificate of incorporation, UBO disclosure, sanctions declaration.

If the framework fits your transaction, the desk is open.

For buyers → For suppliers →