Procedure
Every request follows the same four steps. Clients never contact each other directly.
- 1
Submission
Submit a purchase request or a sale offer using the online form. No account is needed. You receive a reference number and a private link to follow the request.
- 2
Verification
The desk reviews the company documents and screens both parties against international sanctions lists. Further documents may be requested.
- 3
Matching
When a suitable counterparty is found among verified clients, the desk contacts both parties and arranges an introduction under a signed agreement.
- 4
Completion
The desk follows the contract, inspection, loading and payment until the transaction is complete.
Frequently asked questions
Do I need an account?
No. Submit a request and you receive a reference number and a private tracking link by email.
Who sees my company details?
Only the Qanat desk. Listings on the market board never show names. Your details are shared with a counterparty only after both sides are verified and agree to an introduction.
Does Qanat sell Iraqi state crude oil?
No. Qanat does not offer state crude allocations. Crude oil is handled only through verified allocations with proof of product.
What happens after I submit?
The desk reviews the request, may ask for company documents and screens both parties. You can follow each step on your tracking page and send further documents there.
Can I use the site in Arabic?
Yes. The whole site, the request forms and the emails are available in Arabic and English.
How do I know a message really comes from Qanat?
Qanat never asks for payment to a personal account. If in doubt, check your request's status on this website or contact the desk using the details on the contact page.
Terms used in trade
- FOB
- Free on board: the seller loads the cargo onto the buyer's vessel at the named port. The buyer pays freight and insurance.
- CIF
- Cost, insurance and freight: the seller pays freight and insurance to the named destination port.
- CFR
- Cost and freight: the seller pays freight to the destination port. The buyer insures the cargo.
- DAP
- Delivered at place: the seller delivers to the named place, ready for unloading. Common for trucks and inland delivery.
- EXW
- Ex works: the buyer collects from the seller's site and arranges all transport.
- LC
- Letter of credit: the buyer's bank pays against the shipping documents.
- SBLC
- Standby letter of credit: a bank guarantee that pays if the buyer does not.
- TT
- Bank transfer, usually part in advance and the balance against documents.
- LOI
- Letter of intent: a buyer's written statement of interest in a purchase.
- ICPO
- Irrevocable corporate purchase order: a buyer's formal commitment to buy on stated terms.
- FCO
- Full corporate offer: a seller's formal offer with product, quantity, price basis and terms.
- SPA
- Sale and purchase agreement: the contract signed between buyer and seller.
- POP
- Proof of product: documents showing the seller holds or controls the cargo.
- Q&Q
- Quality and quantity inspection by an independent surveyor at loading or discharge.