Compliance & Governance (KYC, AML & Trade Compliance)
Every transaction undertaken by Saichild Commodities Asia is subject to stringent Know Your Customer (KYC), Anti-Money Laundering (AML), and applicable international sanctions and trade compliance requirements. These measures are designed to safeguard our counterparties, uphold the integrity of our transactions, and promote transparency and responsible conduct across the global petroleum and commodities markets.
Our Commitment: We do not proceed with any transaction until comprehensive counterparty due diligence, document verification, and applicable sanctions screening have been completed and cleared. These requirements are mandatory and apply consistently to all buyers, sellers, intermediaries, affiliated entities, and individuals involved in a transaction.
Our Compliance Framework
Counterparty Due Diligence
Before any transaction is initiated, all buyers, sellers, and their Ultimate Beneficial Owners (UBOs) are required to complete comprehensive KYC verification. This ensures that counterparties are properly identified and verified before any commercial engagement proceeds.
Requirements
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Certificate of Incorporation / Business Registration
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Director / UBO Identification
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Proof of Registered Business Address
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Corporate Banking References
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Source of Funds Declaration
Anti-Money Laundering (AML)
SCA applies robust AML procedures to every transaction. All counterparties are screened against relevant sanctions, financial crime, and compliance databases, with appropriate records maintained in accordance with applicable regulations. These measures help prevent the misuse of petroleum trade for money laundering and other financial crimes.
Requirements
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Source of Funds Declaration
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AML & Financial Crime Screening
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Financial Institution Verification
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Beneficial Ownership Disclosure
Trade Finance Verification
All payment instruments submitted for petroleum transactions, including Letters of Credit (LCs), Stand By Letters of Credit (SBLCs), and Bank Guarantees (BGs), are subject to verification with the issuing financial institution and acceptance by the applicable refinery or seller. Requirements may vary depending on the transaction, refinery, and agreed commercial terms.
Requirements
Irrevocable LC Verification
SBLC / BG Issuing Bank Confirmation
SWIFT MT760 / MT799 Pre Advice
Bank Comfort Letter (BCL) Authentication
Sanctions Screening
Every counterparty, director, and Ultimate Beneficial Owner (UBO) is screened against applicable international sanctions lists before engagement. SCA will not participate in any transaction involving a sanctioned entity, individual, or jurisdiction.
Requirements
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OFAC (US Treasury) Screening
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EU Consolidated Sanctions List
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UN Security Council Sanctions List
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UK HMT Financial Sanctions Screening
Document Authentication
All corporate documents submitted by counterparties are subject to verification and authentication. Where required, documents must be notarised, apostilled, or legalised in accordance with applicable laws and requirements of the relevant jurisdictions.
Requirements
. Notarised Corporate Documents
. Apostille Certification Where Required
. Legalisation for Non Hague Convention Jurisdictions
. Third Party Legal Opinion on Corporate Structure
Regulatory Framework
All transactions facilitated by SCA are conducted in accordance with applicable international trade regulations and relevant petroleum trading standards. Where applicable, SCA follows recognised industry guidelines, including IBIA standards and ISPS Code requirements for maritime and tanker operations.
Requirements
• International Trade Regulations
• IBIA (International Bunker Industry Association) Guidelines
• ISPS Code Compliance for Maritime Operations
Why Compliance Matters in Commodities Trading
The global commodities trade operates within a complex and continually evolving regulatory environment. Without robust compliance procedures, buyers and sellers may face transaction delays, financial exposure, regulatory action, and reputational risk.
At SCA, compliance is an integral part of our business practice, not simply a regulatory requirement. By conducting thorough counterparty due diligence, verifying documentation, and maintaining appropriate transaction records, we help mitigate fraud, financial, and regulatory risks while supporting secure and transparent trade execution.