We work very closely with our suppliers to mirror their procedures while preserving the essence of our role as resellers when taking ownership of the commodity, even if only briefly, to deliver it to the buyer.

The integrity of the process concerning the supplier is safe guarded first by the compliance executed by REM and the financial/banking system. At the legal level, all contracts are reviewed by our expert Oil & Gas partner law firm and executed under International Chamber of Commerce Rules.

Operationally, we are supported by a close relationship with the globally recognized independent surveyor, SGS, which assists REM in verifying the quantity and quality specifications of the commodity at any world port. We also work with several global logistical operators who assist in the physical and title verification of the commodity in tank farms and vessels through our joint venture partners in Rotterdam, Houston, Fujairah, and Hamriyah.

At the transactional and financial level, all transaction documentation (KYCand agreements with all parries) is submitted for approval by the financial/banking system. The financial structure and instruments are agreed upon between bank institutions. The Proof of Product (POP) is receiving from our partner suppliers on a bank-to-bank basis and verified accordingly. The Proof of Fund (POF) is sent on a bank-to-bank basis via SWIFT by MT199 or MT799. For Long-Terms SPA we can provide BG or SBLC via SWIFT by MT760. Finally,payment for the commodity is primarily executed only after receiving payment from the buyer by via SWIFT by MT103. After this, the title and risk of the commodity are transferred to the buyer upon lift or delivery.