Compliance

Our Commitment to Compliance

At Summit Global Energy, compliance is the foundation of our business. We align all operations with international best practices to ensure secure, transparent, and lawful energy transactions.

International Standards

ICC Trade Rules – All contracts follow International Chamber of Commerce (ICC) guidelines, including INCOTERMS, NCNDA, IMFPA, and SPA structures.

KYC/KYB – We require Know Your Customer (KYC) and Know Your Business (KYB) documentation from all counterparties before engagement.

Due Diligence – We verify company registration, financial standing, and authority of all partners prior to contract execution.

Transaction Procedures

Buyer issues ICPO (Irrevocable Corporate Purchase Order).

Seller responds with FCO (Full Corporate Offer).

Both parties sign NCNDA/IMFPA.

SPA (Sales & Purchase Agreement) executed.

Buyer issues LC/SBLC via top-tier bank.

Seller provides POP (Proof of Product).

Independent inspection (SGS, CIQ, or equivalent).

Delivery and shipment.

Commission disbursed as agreed.

Risk Management

Independent inspections at load/discharge ports.

Bank-to-bank communication only for payment instruments.

No tolerance for fraud, misrepresentation, or non-compliance.