Plain-language definitions of 133 terms used in raw material trade: Incoterms, payment, shipping, customs, quality documents, plastics, metals, chemicals, agriculture and energy.
The process of verifying, before doing business, that a counterparty really exists, who its officers and ultimate beneficial owners are, and whether it is subject to sanctions or adverse media. Tools include tax and trade-registry records, signature authorisations, licences, bank references and site visits or video verification. Banks perform KYC under anti-money-laundering law; for trading parties it is the first line of defence against fraud. The platform’s “Verified company” badge is based on this kind of document check.
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