FAQ

Frequently Asked Questions (FAQ)

What services does MGC provide?
 

MGC is a global commodity trading firm and a recognised mandate, specialising in connecting verified buyers and suppliers across high-value sectors such as precious metals, oil, and gas. Our mission is to facilitate secure, transparent, and fully authorised transactions by leveraging a trusted international network.

We engage in direct trading activities while also acting as official mandates for both suppliers and buyers. This dual role allows us to oversee deals with precision, ensuring every transaction meets the highest standards of integrity, compliance, and efficiency—reinforced by formal mandate appointment letters that authorise our involvement on behalf of each party.

What is a mandate appointment letter, and why is it important?
 

A mandate appointment letter is a formal and legal document that grants MGC the authority to act on behalf of either the buyer or supplier in the commodity transaction. This letter ensures that the transactions we facilitate are fully authorised and legitimate.

This document is crucial as it provides legal validation and authorisation for us to engage in discussions, negotiations, and contract finalisations on behalf of our clients. Both parties must provide a mandate letter for us to act as a mandate in a transaction, ensuring transparency, trust, and compliance throughout the process.

How do I become a supplier or buyer through MGC?
 

Becoming a part of the MGC network is a streamlined process. To start, both buyers and suppliers must provide:

• Proof of legitimacy (such as business registration documents)
   
• Proof of Product (POP) / Proof of Funds (POF)
   
• Commodity specifications (e.g., quantity, quality, certifications for products)
   
• Mandate appointment letters signed by both parties
   

Once we receive these documents, our team will validate the information and ensure everything is in order. From there, we will connect buyers and suppliers, negotiate terms, and facilitate the transaction process from start to finish.

What types of commodities do you act as a mandate for?
 

At MGC, we act as a mandate in a diverse range of high-demand commodities across various sectors. That being said, we specialise in the following:

Precious Metals:

• Gold bullion (physical gold bars and ingots)
   
• Dore (a semi-pure alloy of gold and silver)
   

Oil & Gas Products:

• EN590 10ppm diesel (European standard for ultra-low sulphur diesel)
   
• Jet Fuel A1 (aviation fuel)
   
• D6 Fuel (refined petroleum for industrial use)
   

Our expertise lies in high-volume, high-value transactions that are critical to industries like mining, transportation, aviation, and energy. If you're interested in sourcing or selling any of these commodities, MGC can help facilitate the deal with trusted counterparts.

How does MGC facilitate transactions between buyers and suppliers?
 

As a mandate, we take on the responsibility of ensuring that the transaction process is smooth, secure, and transparent. Here’s how we facilitate the process:

• Initial Consultation: After you reach out to us, we discuss your specific needs and the type of commodity you wish to buy or sell.
   
• Document Verification: We require both buyers and suppliers to submit their mandate appointment letters and relevant documentation, including proof of supply or purchasing power.
   
• Connecting Buyers and Suppliers: Once the documents are verified, we connect buyers with suppliers that match their requirements. We ensure that all parties are reputable and that the terms align with international standards.
   
• Negotiation and Terms Agreement: We handle the negotiation process, ensuring that pricing, delivery schedules, and payment terms are agreed upon.
   
• Contract Finalisation: Once all terms are agreed upon, we facilitate the signing of formal contracts between the buyer and supplier.
   
• Transaction Oversight: MGC ensures that all steps of the transaction are completed properly, including payment transfers, delivery logistics, and legal compliance.
   

What security measures are in place to protect transactions?
 

Security is one of our top priorities. To ensure that every transaction is safe and compliant:

• Mandate Verification: All parties must sign valid mandate appointment letters, ensuring legal authorisation for the transaction.
   
• Regulatory Compliance: We operate in full compliance with international trade laws and regulations, including KYC (Know Your Customer) and AML (Anti-Money Laundering) protocols.
   
• Escrow Services: For certain transactions, we may use third-party escrow services to hold payments until all terms of the deal are met, providing an additional layer of security for both buyers and suppliers.
   
• Secure Communication Channels: We only communicate via secure channels to ensure confidentiality and data protection for all parties involved.
   

What happens after a transaction is finalised?
 

After a transaction is finalised, MGC continues to monitor the completion of the deal to ensure everything is delivered according to the agreed terms. This includes overseeing:

• Delivery Logistics: Ensuring timely and safe delivery of commodities, whether in physical or financial form.
   
• Payment Transfers: Verifying that the payment has been received by the supplier, or that the buyer has received the agreed product.
   
• Post-Transaction Support: If any issues arise post-transaction, our team is available to mediate and provide solutions in line with the agreed contract.
   

How can I ensure the legitimacy of a supplier or buyer?
 

MGC takes great care in vetting both suppliers and buyers to ensure legitimacy and avoid fraud:

• Supplier Verification: We perform thorough due diligence on all suppliers to verify their capacity to meet the demand. This may include checking their business credentials, production capabilities, and historical trade records.
   
• Buyer Verification: We confirm that buyers have the necessary financial backing or access to funds for the transaction. This ensures that the buyer can honour the purchase order and abide by the terms.
   
• Mandate Appointment Letters: The mandate letters serve as a formal and legally binding document that allows us to work directly with the designated parties, ensuring no unauthorised individuals are involved.
   

Can MGC help with cross-border transactions?
 

Yes! MGC is well-equipped to handle cross-border transactions and international trade in commodities. We understand the complexities of dealing with different regulations, languages, and currencies, and we work with trusted international partners to ensure that all compliance and logistical requirements are met. Whether you're importing or exporting commodities like gold or oil, we manage the entire process.

How do I contact MGC for inquiries or to start a deal?
 

To get in touch with us, you can:

• Email: info@mayfairgc.com
   
• Contact Form: Visit the "Contact Us" page on our website and fill out the form to receive a prompt response. Our team is available during business hours and will respond to your inquiries in a timely manner.
   

What if there are issues during the transaction process?
 

If any issues arise during the transaction, MGC will act as a mediator to help resolve the dispute. We work closely with both parties to ensure that the issue is addressed swiftly and fairly. Our legal team is available to provide support if needed.