ABOUT SMICE
TRADING
PUBLICATIONS
ADVANCED ED
BULLETIN UPDATE
UPDATES 2021
PDF Download
Contact Us
Email Me


 

SMICE EDUCATIONAL SERVICES

FOREIGN TRADE NEGOTIATORS (FTN)


YOU HAVE PURCHASE THE IN HOUSE DOCTRINE FROM FTN EXPORTING

  1. Once you have purchase the doctrine, set up your home office in a quiet area of your home.
  2. If you are able to print the doctrine into a rudimentary book, then do so as this is the easiest and best way to study the trading aspect.
  3. Mistakes found in grammar found along the way are considered very trivial and will not detract from the overall lesson being served. 
  4. It takes many years to fully edit such a large volume of work which we are constantly refining; allowing us to release important updates to masterworks early.
  5. Do not concentrate on the last segment PDF, as it delves into crude oil and fuel sales.Starting trading in general commodities first is a recommended aspect.
  6. Read the first 6 editions PDF and start trading. Read and study the last Crude oil edition thereafter, as you must not delve in crude oil /fuel deals for the first 12 months.
  7. Crude oil business are  a  very complex business application much more so if you have not learned the trading basis and routine when sourcing ‘standard and wanted’ export ready goods.
  8. TRIBE rules guides the PCT as well. 
  9. TRIBE Rules also dictates products that the PCT must not trade in (Financial instruments, Gold, etc.etc.) 
  10. TRIBE rules are used when an argument is apparent. TRIBE Rules can be found on www.ftnexporting.com site in 2021. 
  11. You are a Foreign Trade Negotiator; no point is using such a title if you do not understand the full nature of the business being practised, and that of your client.
  12. One cannot simply trade as an intermediary, as trading this position alone is economically unviable and laden with risks.The PCT must know everything about their business and lawful procedures there-in.
  13. Read the first 5 PDF’s intently, which should take you between 2 and 4 months to do so. 
  14. You should have understood more than 50% of the doctrine within the first read.
  15. With all purchases made, we always provide a number of ‘Question and Answers’ (Q&A) support units at varying levels, that the applicant may use while studying.
  16. Serving these ‘Q&A’ units takes up a great deal of our valuable time and it the majority of cases, most ‘students’ have used less than the number of Q&A units offered, further denoting that most applicants have understood the basic premise on the first read.
  17. Use your Q&A while studying if truly needed, otherwise reserve them for when you start trading if the offer defines as much.
  18. If the applicant is able to understand advice on this website,(authors  writing style) then they will understand matters of doctrine.
  19. Once you have completed studying the doctrine, start the trading aspect ASAP as instructed in the doctrine in very straightforward and simple to apply manner. Don’t hesitate, don’t waste time.
  20. If you follow the simple advice served and practice such intently you’ll remain trading in a very safe environment. 
  21. The doctrine will protect you; even if you ‘stuff it up’ a little it won’t matter, you cannot legally entrap to yourself. 
  22. You will be able to practice sourcing and testing clients safely until experience level rise.  
  23. Your first job is to source one single supplier of a wanted product other than crude oil or fuels, by spending a great deal of time sourcing such ‘suppliers’ personally. 
  24. Don’t form a trading group yet, is also our ‘best practice’ advice.
  25. Trade alone for 5 /6 months before inviting other to participate in a sourcing event. 
  26. Before  you to head your own team, you need to become informed first, otherwise string members later, if you chose to use them, will not respect you nor follow your directives.
  27. If you are attached to a PCT who is obviously not applying the doctrine as intended, detach yourself quickly. His lack of integrity will also become a part of your position.


The lone trading position is the superior and easier trading position. Heading a group of others to source and test suppliers and end buyers ‘in the correct manner’ is a more complex situation, and wastes a great deal of time to the  PCT heading the group; time which could have better been spend trading.Only long term practitioners should consider  forming a trading group and only when the required ‘trading experience’  has been gained. A PCT is a ‘Buyer’ to the supplier and a ‘Seller’ to the end buyer.The PCT masters the correct way to trade accordingly and needs to know how to secure their commission or profit safely. An ad hoc ‘ trade intermediary’  cannot earn commission  nor earn a profit  from trading in an ill informed manner is based on legal principle of agency going back centuries. An ill informed intermediary without an informed principal (PCT) on board, cannot close an import export deal legally all the way to contract. A PCT is a highly informed and respected  trader and principal in its own right  who may choose to work alone or later form trading groups that must be headed by the PCT. Simply put, a PCT is not an ‘intermediary’ but a highly informed  International Trade Specialist (ITS). 


Before the study aspect is over: or sometime thereafter within 12 months  

  • Open up a bank account with a well known bank, to reserve  for  use by your business, and pay the small monthly fee to maintain it. 
  • You need to establish this bank account early so when the time comes to lodge a financial instrument is such an account, the bank can see you have maintained the account  for a long period. 
  • Consider registering a business name or if such a service is not available your country  establish a basic sole proprietor company; later if the business is attractive to you.You need to test this aspect intently first. 
  • Ensure you have a generic email address to use all the time  and a personal private  ISP issued email address as well which is not placed on line.
  • Ensure your online business name/email address sounds like a ‘business.’ No phone numbers online is highly recommended (not for the first year anyway) 
  • If you open a website treat it as a business website  noting your ‘informed status’ and what your skill set is about. No point in trying to get rankings as the expense of maintain such cost money for very little effect.
  • Make sure the website has a strong sounding, easy to read  business name that should be the same as your corporate business name.   
  • Keep you website as a ‘information service’ about your business and ‘about the service you are able to  offer’  and not disclose matters of doctrine. 
  • If your are too generous in giving away advice , you’ll be hounded so much for more advice, that eventually, you will not have the time needed to trade. Learn to serve ‘directives’ not advice.  
  • Call yourself a ‘PCT’ once the study is over.Do not use the term Broker or Agent. You are a  PCT or a Certified ‘International Trade Specialist’ (ITS) and Foreign Trade Negotiator (FTN)  by title. (If exam is passed  Certificate is issued)  
  • If you are attempting  to secure lets say i.e: Coal when you start to trade. Spend a week studying  all about coal  and the market place online first etc.etc.
  • Don’t try and do ‘too much, too soon.’ Concentrate  on sourcing one perhaps two different export ready products in any given period or year.
  • Sourcing products is a part of the acquired skill set you will need to master, and is the first step that MUST be learned.
  • Keep away from all B2B and other  trade sites and online trading groups. They are in decline.
  • Remember you are not an end buyer or supplier but a legally defined ‘seller and buyer’ when entering into a deal. 
  • The PCT will not be able to use a ‘suppliers procedures’ must be assumed from the start, as we are not the  ‘end users’ of products being traded.
  • However all suppliers world-wide are able to use the PCT’s  lawful and proper procedures. Like wise when dealing with end buyers.  
  • The PCT acting in the position of the FTN must PERSONALLY  obtain an offer or even a good quote for goods being  sourced, from a ‘disclosed export ready supplier in possession of such goods.’  
  • Never source the end buyer first. Never! This is the main  premier rule amongst all others. It’s a huge mistake to do so, as  explained in the doctrine
  • In effect, the PCT is simply introducing himself/herself  to the world when they first start to trade. 
  • The PCT learns to trade in the proper orthodox manner  and if  the PCT intends to form it own trading group must also learn the added in-house trading aspect as well.   


MAKING A QUOTE

The first document you will need to produce is an ‘Inquiry to Buy’ (ITB) or Quotation. You will need to make many of such documents to many suppliers before a reply will be secured is best assumed from the start. An ITB or ‘Quote’ once served or secured is not legally binding. In the unlikely event that  you do get a reply  quickly to inquiries you have made by email, follow the advice in the doctrine or ask us for our opinion, if you have not used your Q&A units prior. You need experience and you need to make documents like the quote, because by adding a little more information to a good quote format, will produce ‘an offer.’ This is how you learn the routine and trading aspect, ‘one step at a time.’  The other aspect is to write may  documents because the PCT must perfect the art of making documents; we deal in documents. Even if our model documents are used, learn to write your own. The more you write, the more refined your documents become as more and more details becomes firmly established to the mind. Even after decades, FTN will still pull up a fresh document and create a new quote, offer, contract etc.etc.As one step is mastered it automatically leads to the next step. 


In effect you are studying while trading once you have read the doctrine  therefore instead of spending 4 or 5 years of studying and obtaining such experience, you’ll be spending 12 months or less before your skill set and experience ‘brings you a live deal’ event is assumed. There is no point is pretending that you can close a deal once you have read the doctrine; you can’t. You need practice to which the ‘safe’ mistakes made will produce the required experience. The doctrine is easy to apply but  complex because it protects PCT all the way to contract. The PCT needs to study intently first. The PCT cannot get into legal hot water, nor accept to handle fake deals by accident, on the condition the doctrine is observed and that no short cuts are taken. The PCT will become apprehensive, nervous and unsure  as he or she  reads and studies the doctrine before clarity sets in, especially past ill informed traders taking up the study, who will not see terms of trade used by ill informed traders online, being used or promoted ( ICPO, LOI, BCL, NCNDA, POP, ASWP, POF, RWA, etc.etc.) The PCT will be only dealing with informed people like;  informed trade lawyers, banks, end buyers and corporate suppliers, from every corner of the planet. While such entities know their own ‘patch of business basis’  intently, the PCT must learn the whole trading basis intently, hence the big difference. I.e: A banks knows about the ‘financial side of business’ they will not know  about the whole trading basis and expectation or the PCT. Like wise lawyers and corporations. By becoming highly informed, other entities will come respect you knowledge because the doctrine is academically sound as well. We have had many compliments served to the PCT and by  other professional entities over the decades. Once you have some  good experience  test deals heading your own string, if you chose to do so formally or casually.You cannot be a ‘leader’ without experience.Best to make ‘mistakes’ and learn accordingly while trading alone is highly recommended aspect. 


Keep away from trade sites and social sites when doing business. What’s the point is securing i.e: Coal from a trade site ? Anyone can do as much even the end Buyer. Trade sites are in decline, we are still here after 32 years as are many PCT who have taken up our study.  Securing a revolving shipment of a much wanted commodity is never an easy task, not even for end buyers, this is  where the skill set of the PCT also becomes valuable. You must keep certain matters confidential at all times. You must only secure goods from an export ready supplier and sell such goods to an import ready end buyer. There is nothing in-between. Later if you decide to take on string members to assist you with matters of sourcing, the doctrine will explain such an aspect as well; for use, once some experience  trading as a PCT has been attained. Those who are looking for a get rich scheme; you’ve come to the wrong place, the publication on offer will greatly disappoint you. As for the many ill informed traders found online in any given year; we simply avoid  such entities outright. In fact, the majority of applicants  had grasped the doctrine quickly which is ‘not that hard’ to do; the failings applicants face is trying to remain in the industry long enough in where  after 11 months on average, after studying the doctrine, as many as one in three applicants ‘give up.’ By the second year ‘one in two’ applicants  have given up trading altogether. If there is a secret in this business  then ‘longevity’ becomes a key word. Set you aim low from the start, and remain trading for many years, serves the auspices of  experience–which is the bedfellow of success. Obtaining proper knowledge, experience and apply efforts to learn and practice, over a long period of time equals success. This is the ‘professionalism’ that the PCT brings to the deal. Take any one of these three elements  away from the formula; greatly diminishes the possibility of ‘success.’  The PCT is attempting to secure a life time of earnings on one single revolving  export import deal. To do as much the PCT has  to earn such gains by bringing ‘skill and knowledge’ to the table. 


“I have been at it for over 32 years and I have thrown in the towel many times. The angst this business gives you, is rewarded by the many great people you meet along the way from many countries, and the deals that you will be handling, and the profit  generated therein–all achieved by being informed and by ensuring that ‘you last the distance.’ To ‘give it your best shot’ often supports a worthy  endeavour. You are not an ill informed export import intermediary, they’re a ‘dime a dozen.’ You are a Foreign Trade Negotiator conducting  business as a PCT. What you’ll learn measured in months  cannot be learned at a university or college  at the same pace.”  



© FTNX Last Updated: Dec 1, 2020




 

|ABOUT SMICE | |TRADING | |PUBLICATIONS | |ADVANCED ED| |BULLETIN UPDATE | |UPDATES 2021| |PDF Download| |Contact Us|