A Tailored approach to South Africa’s Fuel Industry

Posted by TradeSafe on Sun, Jul 15 2018 11:24:08


All the parties are also required to submit documentation to TradeSafe (for regulatory and compliance purposes) and have a TradeSafe user account. We will require the following documentation for regulatory and compliance purposes:

  • Copy of your wholesale license
  • Copy of company registration
  • Proof of bank account

Please send the documentation to and we will let you know as soon as the verification procedures have been performed. 

TradeSafe requires the Buyer (the party who will deposit the funds with TradeSafe), all Wholesalers and the Seller (the party receiving the funds to their bank account) to be linked and be a party to the same TradeSafe transaction. This ensures that terms are agreed by everybody, that all parties are vetted, that there is complete transparency (with respect to performance) and that everybody is on the same page. When a transaction is created, all parties must be linked. TradeSafe will not link any additional parties to an already existing transaction. This is becoming quite common amongst suppliers who at the last-minute requests TradeSafe to link the actual supplier to the transaction, who in the turn the new supplier asks TradeSafe to link an additional supplier...and so on and so more. Please see below how TradeSafe assists in linking all parties to a single transaction.

But how can the Buyer add a Supplier to the transaction when he/she does not even know who the Supplier is? If there are two Wholesalers that are involved in the transaction, how will the commissions be added as this is sensitive information and not one party will know the details of both Wholesaler's commissions to be included in a single transaction. It is quite simple if there is only one Wholesaler involved as the Wholesaler can create the transaction themselves and link the buyer and seller to the transaction using confidentiality mode. But what about two?

Well, this is where TradeSafe comes in. If there is more than one Wholesaler involved, TradeSafe requires each Wholesaler to EACH separately complete a TradeSafe Transaction Initiation Form. Click HERE to download our form.

Wholesaler 1 will disclose his Buyer, the buyers amount, the profit owing to him, the commission owing to his agent and he will disclose his Seller (Wholesaler 2) and how much must be paid over to Wholesaler 2). Wholesaler 1 then sends off the transaction initiation form to, with any supporting documents (Buyer Pro Formas, PO, Upliftment Schedule etc. and waits for further instructions.

Wholesaler 2 also completes separately a transaction initiation form. Wholesaler 2 will disclose her Buyer (Wholesaler 1), her profit and her Seller (the actual Supplier) and the amount owing to the actual supplier. Wholesaler 2 then sends off the form to as well any supporting documentation (Seller's Invoice etc) and waits for further instructions.

TradeSafe now has all the information to build a single TradeSafe transaction and links all parties to the transaction using its proprietary confidentiality feature. The parties will never be disclosed to each other and the profits will remain hidden. The end-supplier now has comfort as he/she can see whether the funds are indeed in escrow and that it is indeed allocated to him/her. For the Wholesalers, rest assured, Tradesafe will enforce CONFIDENTIALITY so that your parties' and any profits payable to you are protected and will never be disclosed to any other party. That is our promise!

Are you a Buyer, Seller or running a business?

Don't delay, start trading with confidence right now!