Starting January 2011, Intertorco created its Trading division. Our customers were heard so we arranged the creation of a department focused in the management of commodities.
Due diligence
Following our principles, we provide the best support to our customers. That’s why we apply our strict “Code of Ethics” to all our operations. As a proof of that, we have been authorized by several US Agencies and Departments, for exporting agricultural commodities to countries such as Sudan.
Our costumer.
Our customers are spread throughout the world and we respect their business systems, adapting our business operations to their laws and customs.
Involved US Agencies/Departments.
We strictly follow the established procedures created by those US Agencies/Departments, in charge of authorizing commercial activities between the United States and our customers in Sudan or Iraq. Among the involved US Agencies/Departments we can mention:Company profileOffice of Foreign Assets Control (OFAC) [U.S. Department of the Treasury]Bureau of Industry and Security (BIS) [U.S. Department of Commerce].Those registrations, allow us to apply for export and re-export licenses related to commodities with origin in the United States and destination African & Middle East countries such as Sudan and Iraq. When a license is granted, it means that the transaction has been communicated accordingly to more than five U.S. Departments, including the mentioned U.S. Department of the Treasury, the U.S. Department of Commerce and the U.S. Department of Trade.Any granted license allow our customers to use their bank to issue the letter of credit required for the payment of those commodities, as it is clearly stated in the related license.As an added value, these international transactions do help in the normalization of the international transactions; a key element in the development of the country.
Export / Re-export licenses already granted.
Up to now, we have been granted an important amount of commodities licenses and more in progress. Thanks to those licenses, an increasing number of customers can profit from high quality U.S. commodities, such as hard red winter wheat, or white sugarcane. And most important, creating a transaction fully supported and authorized by key governmental agencies.
