Eighteen classes,
one method.

What is checked

Documents required

Also accepted

Movement

Sea voyage. Laycan, notice of readiness and a statement of facts co-signed at each port.

Stages

Laycan · Notice of readiness · Loading · Sea passage · Discharge

Price

Index-linked. A published index over the agreed quotational period, adjusted by a formula both sides can recompute.

HS code

Stated on the contract, expected as HS 2601.11 or 2601.12

Quality recorded

Fe (%) · SiO₂ (%) · Al₂O₃ (%) · P (%) · S (%) · H₂O (%) · TML (%)

Arranger fee

12 bp of transaction value, minimum US$18,000, capped at US$125,000. Below US$3,000,000 the class is quoted at the minimum, and the desk says so before work begins

Why that rate

Against seller-paid cargo brokerage of roughly 0.10 to 0.35 per cent of free-on-board value.

What is checked

Documents required

Also accepted

Movement

Sea voyage. Laycan, notice of readiness and a statement of facts co-signed at each port.

Stages

Laycan · Notice of readiness · Loading · Sea passage · Discharge

Price

Index-linked. A published index over the agreed quotational period, adjusted by a formula both sides can recompute.

HS code

Stated on the contract, expected as HS 2701

Quality recorded

Calorific value (kcal/kg) · Ash (%) · S (%) · Volatile matter (%) · H₂O (%) · TML (%)

Arranger fee

12 bp of transaction value, minimum US$18,000, capped at US$125,000. Below US$3,000,000 the class is quoted at the minimum, and the desk says so before work begins

Why that rate

Against seller-paid cargo brokerage of roughly 0.10 to 0.35 per cent of free-on-board value.

What is checked

Documents required

Also accepted

Movement

Sea voyage. Laycan, notice of readiness and a statement of facts co-signed at each port.

Stages

Laycan · Notice of readiness · Loading · Sea passage · Discharge

Price

Index-linked. A published index over the agreed quotational period, adjusted by a formula both sides can recompute.

HS code

Stated on the contract, expected as HS chapter 10

Quality recorded

Protein (%) · Moisture (%) · Test weight (kg/hl) · Foreign matter (%)

Arranger fee

12 bp of transaction value, minimum US$18,000, capped at US$125,000. Below US$3,000,000 the class is quoted at the minimum, and the desk says so before work begins

Why that rate

Against seller-paid cargo brokerage of roughly 0.10 to 0.35 per cent of free-on-board value.

What is checked

Documents required

Also accepted

Movement

Sea voyage. Laycan, notice of readiness and a statement of facts co-signed at each port.

Stages

Laycan · Notice of readiness · Loading · Sea passage · Discharge

Price

Index-linked. A published index over the agreed quotational period, adjusted by a formula both sides can recompute.

HS code

Stated on the contract, expected as HS chapter 31

Quality recorded

Nitrogen (%) · P₂O₅ (%) · K₂O (%) · Moisture (%) · Granulometry (mm)

Arranger fee

12 bp of transaction value, minimum US$18,000, capped at US$125,000. Below US$3,000,000 the class is quoted at the minimum, and the desk says so before work begins

Why that rate

Against seller-paid cargo brokerage of roughly 0.10 to 0.35 per cent of free-on-board value.

What is checked

Documents required

Also accepted

Movement

Sea voyage. Laycan, notice of readiness and a statement of facts co-signed at each port.

Stages

Laycan · Notice of readiness · Loading · Sea passage · Discharge

Price

Index-linked. A published index over the agreed quotational period, adjusted by a formula both sides can recompute.

HS code

Stated on the contract, expected as HS 2604 or 2620

Quality recorded

Ni (%) · Fe (%) · MgO (%) · SiO₂ (%) · H₂O (%) · TML (%)

Arranger fee

12 bp of transaction value, minimum US$18,000, capped at US$125,000. Below US$3,000,000 the class is quoted at the minimum, and the desk says so before work begins

Why that rate

Against seller-paid cargo brokerage of roughly 0.10 to 0.35 per cent of free-on-board value.

What is checked

Documents required

Also accepted

Movement

Sea voyage. Laycan, notice of readiness and a statement of facts co-signed at each port.

Stages

Laycan · Notice of readiness · Loading · Sea passage · Discharge

Price

Index-linked. A published index over the agreed quotational period, adjusted by a formula both sides can recompute.

HS code

Stated on the contract, expected as HS 2709

Quality recorded

API gravity (°API) · Sulphur (%) · Total acid number (mg KOH/g) · Reid vapour pressure (psi) · Basic sediment and water (%)

Arranger fee

4 bp of transaction value, minimum US$25,000, capped at US$150,000. Below US$10,000,000 the class is quoted at the minimum, and the desk says so before work begins

Why that rate

Against physical crude brokerage of 1 to 10 basis points. A barrel is a cheap unit; a flat cents-per-barrel rate is not.

What is checked

Documents required

Also accepted

Movement

Sea voyage. Laycan, notice of readiness and a statement of facts co-signed at each port.

Stages

Laycan · Notice of readiness · Loading · Sea passage · Discharge

Price

Index-linked. A published index over the agreed quotational period, adjusted by a formula both sides can recompute.

HS code

Stated on the contract, expected as HS 2710

Quality recorded

Sulphur (ppm) · Density at 15 °C (kg/m³) · Flash point (°C) · Cetane index

Arranger fee

6 bp of transaction value, minimum US$20,000, capped at US$120,000. Below US$5,000,000 the class is quoted at the minimum, and the desk says so before work begins

Why that rate

Against refined-product brokerage of roughly US$0.25 to US$1.50 per tonne.

What is checked

Documents required

Also accepted

Movement

Sea voyage. Laycan, notice of readiness and a statement of facts co-signed at each port.

Stages

Laycan · Notice of readiness · Loading · Sea passage · Discharge

Price

Index-linked. A published index over the agreed quotational period, adjusted by a formula both sides can recompute.

HS code

Stated on the contract, expected as HS 2711.11

Quality recorded

Methane (%) · Gross calorific value (MJ/m³) · Nitrogen (%) · Wobbe index (MJ/m³)

Arranger fee

10 bp of transaction value, minimum US$50,000, capped at US$150,000. Below US$20,000,000 the class is quoted at the minimum, and the desk says so before work begins

Why that rate

Reproduces the market's flat US$50,000 to US$150,000 per cargo, and holds its shape when the gas price moves.

What is checked

Documents required

Also accepted

Movement

Sea voyage. Laycan, notice of readiness and a statement of facts co-signed at each port.

Stages

Laycan · Notice of readiness · Loading · Sea passage · Discharge

Price

Index-linked. A published index over the agreed quotational period, adjusted by a formula both sides can recompute.

HS code

Stated on the contract, expected as HS 2711.12, 2711.13 or 2711.19

Quality recorded

Propane (%) · Butane (%) · Sulphur (ppm) · Vapour pressure (kPa)

Arranger fee

8 bp of transaction value, minimum US$18,000, capped at US$100,000. Below US$3,000,000 the class is quoted at the minimum, and the desk says so before work begins

Why that rate

Against US$0.25 to US$1.00 per tonne on a very large gas carrier.

What is checked

Documents required

Also accepted

Controls this class carries

Dual-use export licence — Goods on a dual-use control list may not be exported or re-exported without a licence naming the end user and the destination. Issued by the dual-use licensing authority in the country of export; allow about 45 days. It is raised the day the class is chosen and binds only on the shipment or the transfer of title.

Movement

Sea voyage. Laycan, notice of readiness and a statement of facts co-signed at each port.

Stages

Laycan · Notice of readiness · Loading · Sea passage · Discharge

Price

Negotiated valuation. A figure negotiated against an independent valuation or appraisal named in the contract.

HS code

Stated on the contract, expected as HS chapter 28, 29, 38 or 39

Quality recorded

Purity (%) · Water (ppm) · Colour (APHA) · UN number

Arranger fee

30 bp of transaction value, minimum US$12,000, capped at US$90,000. Below US$1,000,000 the class is quoted at the minimum, and the desk says so before work begins

Why that rate

Parcels are small, so the floor carries the economics, not the rate.

What is checked

Documents required

Also accepted

Movement

Vaulted transfer, no voyage. The metal stays where it is. Title moves by book transfer between allocated accounts in the same vault.

Stages

Allocation list agreed · Book transfer · Holding confirmed

Price

Index-linked. A published index over the agreed quotational period, adjusted by a formula both sides can recompute.

HS code

Stated on the contract, expected as HS 7108

Quality recorded

Fineness (‰) · Bars · Gross weight (troy oz) · Fine weight (troy oz) · Refiner · Bar serial numbers · Vault

Arranger fee

15 bp of transaction value to US$10,000,000, then 10 bp to US$50,000,000, then 5 bp to US$150,000,000, then 2.5 bp above that, minimum US$15,000, capped at US$250,000. Below US$1,500,000 the class is quoted at the minimum, and the desk says so before work begins

Why that rate

About one year of allocated custody, and a tenth of what a private bank charges a family office. The diligence does not grow with the number of bars, so the rate tapers.

What is checked

Documents required

Also accepted

Movement

Vaulted transfer, no voyage. The metal stays where it is. Title moves by book transfer between allocated accounts in the same vault.

Stages

Allocation list agreed · Book transfer · Holding confirmed

Price

Index-linked. A published index over the agreed quotational period, adjusted by a formula both sides can recompute.

HS code

Stated on the contract, expected as HS 7106

Quality recorded

Fineness (‰) · Bars · Gross weight (troy oz) · Fine weight (troy oz) · Refiner · Bar serial numbers · Vault

Arranger fee

15 bp of transaction value to US$10,000,000, then 10 bp to US$50,000,000, then 5 bp to US$150,000,000, then 2.5 bp above that, minimum US$15,000, capped at US$250,000. Below US$1,500,000 the class is quoted at the minimum, and the desk says so before work begins

Why that rate

About one year of allocated custody, and a tenth of what a private bank charges a family office. The diligence does not grow with the number of bars, so the rate tapers.

What is checked

Documents required

Also accepted

Movement

Vaulted transfer, no voyage. The metal stays where it is. Title moves by book transfer between allocated accounts in the same vault.

Stages

Allocation list agreed · Book transfer · Holding confirmed

Price

Index-linked. A published index over the agreed quotational period, adjusted by a formula both sides can recompute.

HS code

Stated on the contract, expected as HS 7110.1

Quality recorded

Fineness (‰) · Plates and ingots · Gross weight (troy oz) · Fine weight (troy oz) · Refiner · Serial numbers · Vault

Arranger fee

15 bp of transaction value to US$10,000,000, then 10 bp to US$50,000,000, then 5 bp to US$150,000,000, then 2.5 bp above that, minimum US$15,000, capped at US$250,000. Below US$1,500,000 the class is quoted at the minimum, and the desk says so before work begins

Why that rate

About one year of allocated custody, and a tenth of what a private bank charges a family office. The diligence does not grow with the number of bars, so the rate tapers.

What is checked

Documents required

Also accepted

Controls this class carries

Export licence — Taking the asset out of the country of export without the licence the goods require is an offence by the exporter. The desk cannot cure it after the fact. Issued by the export control authority of the country the asset leaves; allow about 30 days. It is raised the day the class is chosen and binds only on the shipment or the transfer of title.

Movement

Ferry flight. A delivery window, a ferry flight under a temporary permit, and acceptance at the delivery airport.

Stages

Delivery window · Pre-purchase inspection · Ferry flight · Acceptance

Price

Negotiated valuation. A figure negotiated against an independent valuation or appraisal named in the contract.

Export control classification

Stated on the contract, expected as EAR99, ECCN 9A991, ECCN 9A610 or NLR

Quality recorded

Tail number · Manufacturer serial number · Registry · Airframe hours (h) · Cycles · Engine programme · Year built

Arranger fee

35 bp of transaction value to US$5,000,000, then 20 bp to US$25,000,000, then 10 bp to US$100,000,000, then 5 bp above that, minimum US$35,000, capped at US$250,000. Below US$3,000,000 the class is quoted at the minimum, and the desk says so before work begins

Why that rate

Priced beside the survey and the pre-purchase inspection the client already pays for, not beside a selling broker's commission.

What is checked

Documents required

Also accepted

Movement

Delivery passage. A delivery window and a crewed passage to the handover marina, under a delivery insurance rider.

Stages

Delivery window · Sea trial · Delivery passage · Handover

Price

Negotiated valuation. A figure negotiated against an independent valuation or appraisal named in the contract.

HS code

Stated on the contract, expected as HS 8903

Quality recorded

IMO number · Hull number · Flag · Classification society · Length overall (m) · Year built

Arranger fee

35 bp of transaction value to US$5,000,000, then 20 bp to US$25,000,000, then 10 bp to US$100,000,000, then 5 bp above that, minimum US$35,000, capped at US$250,000. Below US$3,000,000 the class is quoted at the minimum, and the desk says so before work begins

Why that rate

Priced beside the survey and the pre-purchase inspection the client already pays for, not beside a selling broker's commission.

What is checked

Documents required

Also accepted

Controls this class carries

Export licence — Taking the asset out of the country of export without the licence the goods require is an offence by the exporter. The desk cannot cure it after the fact. Issued by the export control authority of the country the asset leaves; allow about 30 days. It is raised the day the class is chosen and binds only on the shipment or the transfer of title.

CITES permit — A work containing material from a listed species may not cross a border without a permit from the exporting country's management authority. Ivory, tortoiseshell, rosewood and certain skins are the usual cause. Issued by the CITES management authority of the country of export; allow about 60 days. It is raised the day the class is chosen and binds only on the shipment or the transfer of title.

Movement

Escorted transfer. A crated, escorted movement under a fine-art rider, with condition reports at both ends.

Stages

Condition report · Crating · Escorted transfer · Installation

Price

Negotiated valuation. A figure negotiated against an independent valuation or appraisal named in the contract.

HS code

Stated on the contract, expected as HS 9701

Quality recorded

Artist · Title · Year · Medium · Dimensions · Inventory reference

Arranger fee

35 bp of transaction value to US$5,000,000, then 20 bp to US$25,000,000, then 10 bp to US$100,000,000, then 5 bp above that, minimum US$35,000, capped at US$250,000. Below US$3,000,000 the class is quoted at the minimum, and the desk says so before work begins

Why that rate

Priced beside the survey and the pre-purchase inspection the client already pays for, not beside a selling broker's commission.

What is checked

Documents required

Also accepted

Movement

Escorted transfer. A crated, escorted movement under a fine-art rider, with condition reports at both ends.

Stages

Condition report · Crating · Escorted transfer · Installation

Price

Negotiated valuation. A figure negotiated against an independent valuation or appraisal named in the contract.

HS code

Stated on the contract, expected as a six-digit HS code

Quality recorded

Description · Registration or serial number · Registry · Jurisdiction

Arranger fee

35 bp of transaction value to US$5,000,000, then 20 bp to US$25,000,000, then 10 bp to US$100,000,000, then 5 bp above that, minimum US$35,000, capped at US$250,000. Below US$3,000,000 the class is quoted at the minimum, and the desk says so before work begins

Why that rate

Priced beside the survey and the pre-purchase inspection the client already pays for, not beside a selling broker's commission.

What is checked

Documents required

Also accepted

Controls this class carries

Export licence — Taking the asset out of the country of export without the licence the goods require is an offence by the exporter. The desk cannot cure it after the fact. Issued by the export control authority of the country the asset leaves; allow about 30 days. It is raised the day the class is chosen and binds only on the shipment or the transfer of title.

Dual-use export licence — Goods on a dual-use control list may not be exported or re-exported without a licence naming the end user and the destination. Issued by the dual-use licensing authority in the country of export; allow about 45 days. It is raised the day the class is chosen and binds only on the shipment or the transfer of title.

Movement

Sea voyage. Laycan, notice of readiness and a statement of facts co-signed at each port.

Stages

Laycan · Notice of readiness · Loading · Sea passage · Discharge

Price

Negotiated valuation. A figure negotiated against an independent valuation or appraisal named in the contract.

HS code

Stated on the contract, expected as a six-digit HS code

Quality recorded

Product · Grade or specification · Packing · Origin

Arranger fee

30 bp of transaction value, minimum US$12,000, capped at US$90,000. Below US$1,000,000 the class is quoted at the minimum, and the desk says so before work begins

Why that rate

Parcels are small, so the floor carries the economics, not the rate.