Our Relationship with 3M
We have direct connections that are 3M agents/distributor/dealer that work under 3M
3M Corporation >Distributor/Dealer > Our Company
*We will go through dealers because the dealer is a distributor of 3M. We will submit the files to the 3M distributor/dealer lawyers,
Your Relationship with Buyer
Ideal：you > end buyer
less ideal ：you > broker > end buyer
lessss ideal：you > broker > broker > end buyer
Bad：you > broker > …… > broker > end buyer
Deal will ultimately go fail when too many middlemen involved in.
Which type of buyer I want to work with
Most of the deals fall through because buyers can’t even give us correct docs, they are impatient to sign so much paperwork, etc.
So I hope:
- They can submit correct docs
- They are patient
- They are flexible
- They start off small number.
3M system general procedures
- POF & LOI Address: 3M Corporation
- NCNDA and Broker/IMFPA Agreement signed between buyer and broker
- Attorney to attorney intersection on terms, POF/POP exchange, Certificates, escrow agreement, SPA, etc
Most buyers don’t like 3M’s process because they get buried in paperwork. But it also means you are dealing with 3M which is real and direct connection. If your buyer wants real stock. This is the way to go.
3M current situation
- It’s seller market
- 98% of brokers, knowing nothing about 3M, are doing 3M business.
- You can’t tell who is real buyer, who is real seller.
- Fraud buyer + Fraud seller = 3M Fraud is everywhere.
Know your Seller / Seller referral
As I said before: 98% of brokers, knowing nothing about 3M, are doing 3M business.
You have to check his/her knowledge of the 3M market. If he/she can’t answer your buyer’s concern, don’t go with them.
Most brokers have never closed a 3M deal yet. If someone tells you he/she has closed several deals and gives you proforma invoices upfront, which are supposed to under NDA, to prove, he/she is 98% a fake.
How to verify 3M proforma invoice
Just verify with the 3M center.
Know your Customer
As 3M fraud happens everywhere, knowing your customer is vital.
Has the buyer your partner worked before? or a random guy you pick up on the street?
you know which one you should avoid. Anyway, I’m also the random guy you pick up on the street lol. So do due diligence on your buyer. Whether they have a website, phone number, email address, registered corporation or not; Whether LOI and POF match names and everything.
How to determine who is real buyer and who is not
There are about 10,000 billionaires in the world. about 10 trillionaires + government and multi-millionaires a lot. So amount 100M-500M are believable. anything over, I’m doubting it. You have to ask yourself, why would a government/private buys 1Billion at once. Most of the buyers at 10-200Million at the first trial because they want to test if this is real.
If you were purchasing stocks like M 1860
1. Would go all in
2. Little bit at time
3. Don’t go in until you have a strategy and talked to other people that has experience first
The correct answer would be 2 & 3. if you chosen 1, you would be on wall streets bets.
How to work with your customers and partner
Don’t make a transaction as if it’s a one time use condom. it’s best to have more interconnection depth so the buyer and your coworkers doesn’t feel like their used. Make a personal connection and make money than being serious and having no fun.
How to tell fake/invalid POF
- POF from bank = legit, Attorney POF = invalid
- When you see same files for at least 2x times= invalid
- When you see background is cut and pasted = fake
- When you see redacted(edited) a lot like blurred out = fake
- If someone blur their bank = fake
- If the text font doesn’t match the whole text = fake
- If the signature looks like it’s cropped out of nowhere = fake
- If it doesn’t have the “you can reach me here if you have any questions at 123-456-789 and my name is Leo” = fake
- If the file doesn’t have a letterhead = fake
- If it looks like I can create on excel = fake
- If they don’t use their own pof = invalid.
IMFPA
– It must include the product and reference the contract number on the IMFPA or else it is not a viable document to sign
– Sign with Seller over Buyer unless that buyer is your partner that you know very well. You always want to diverse your portfolio for example, if you went for the same buyer, over and over again but one day he decided to not pay you. You basically lost all your commission from further on.
– Need to get them to lodge it. There is a chance they go back on their word with just a signature.
– So, if we are using buyer’s/seller’s escrow, we could have a broker’s account within the escrow that pays us separately once the escrow is released.
– Thus, we will sign an IMFPA with the buyer/seller with language that states when escrow is released, we get paid. We will need the buyer to sign the document with all bank details present, and have their bank endorse and lodged. The bank will give their official endorsement stamped and sealed for verification. We can then take that to our banks respectively to make sure the signatures and endorsement is authentic. As an added measure, we could also get the agreement notarized in the event something happens.
– If they refuse, at the very least, we need to notarized.
– If the contract number changes and every is already endorsed and lodged. The buyer/seller has to re-endorse and re-lodge the agreement back into their bank also get our FPA resigned.
Payment terms
Escrow
Escrow, fastest and safe but it only benefits the buyer party because they only pay when goods arrive to their destination compared to LC when you pay at ABW, which means that it’s fair fro both parties. Because once the seller sends all the required docs, then bank releases funds. But if you send all the required docs to the buyer and no release of funds, until at destination. If banks fucks up on LC by sending while without the required docs, it’ll be bank’s fault, not seller
LC（not available now）
LC is the most safety payment method between all parties. Yes, it’s slow. But it’s the most safety payment method. No need proof of funds because if buyer can’t open in their name = fail. Proof of funds is a waste of time. Proof of fund paper can be made. But bank to bank, buyer can never make it, because it’s from bank to bank.
Note: If your buyer has LOA from hospital or government to purchase on their behalf. LC is optionable
Q&A
Are you 3M distributor？
Nope, Buyer and Distributor intermediary .
Why is your price cheaper than other’s
Because I’m direct with 3M. You get a Price Quote Confirmation after getting acceptance.
Is there a better price option?
Nope. There are the cheapest and most reliable sources that i’ve found. if you found that are more cheaper than mine, you are welcome to go to that source. it’s the buyer’s preference but not mine.
Can you provide certificates before the deal？
No, If you cannot comply proper process, this deal does not need to happen because ultimately I want to protect myself and my other buyers in this transaction. If I cannot protect them, they’re going to blame me that I gave you the connection to the seller before the contract is signed.
When will you provide the seller’s side letter of attestation?
LOA will only be provided after LOI, POF, NDA. When it’s in the lawyer to lawyer process, 3M lawyers will give you proof of inventory upfront, with certificates before signing the SPA.
Can you provide proof of live video？
Sorry, 3M doesn’t provide any video or photo.
Must be able to provide in general
Business Registration Certificate, Certification of Conformity, 3M Authorization Dealer Certification, Noah Certification, ISO Certification, Nelson Lab Certificate, Proof of Inventory, Authenticity of Documents, Lot Number, and etc
Can Non US govt/hospital get price for govt/hospital?
Yes, check the SAD#HON on airtable.
Explanation of 3M capability of production
So in any manufacturer company there is the reported product to the public such as 2.2 billion per year then there is the biotech industry, mining, construction, hospitality and other industries that they’re number are left unreported to general eye.
They procure minimal quantities from different factories to complete our quantity requirement. They have contracts in multiple factories around the world and they can fulfill our requirements as needed.
Or see this example:
So like, my (sam’s) mom works at Canada Goose lah. Sometimes when you need to do a collaboration with other brands or hospitality the company doesn’t really report the number that they produce to other sellers but they do produce the numbers for the retail market because it has correlation to what’s the company value is worth + stock correlation lah. Even, I get Canada goose clothing for free it’s because the factory that produces extra for Canada Goose, they give it away and don’t report it or for example, when Canada Goose needs more manufacturers to produce their goods for a special event; they’ll just contract more manufacturers.
3M Product info
How to tell expired product
Expired: manufactured from 2002 to 2012 = expired.
Semi new: manufactured from 2013 to present
Latest version: are from 2019 to present
Lot number
Expired：has no letter in front of it. usually in front of it has 5~6 digit like 123456. shorter it is = older it is.
Semi-new and latest version：begins with a B and has up to 6 digits. longer it is = newer
Packaging
Expired：the top part is black and white, the bottom part is blank = old and usually has a rectangle sticker about a inch
Semi new：top part has color such as 3M – red
Latest version: the ones with sticker on top = 100% new
What is the difference between TC-84A-0006 and TC-84A-0008
TC-84A-XXXX is NIOSH approval number。
TC-84A-0006 that is approved by NIOSH as an N95 respirator and also cleared by the Food and Drug Administration (FDA) as a surgical mask, TC-84-008 is not.
So, TC-84A-006 is the mask buyer wants actually.
Ordering information
20 respirator/box
6 box/case
40 case/pallet
20 respirator/box * 6 box/case = 120 respirator/case
20 respirator/box * 6 box/case * 40 case/pallet = 4,800 respirator/pallet
3M Review(Audit)Your LOI and POF
After review your LOI and POF ,3M Will send You MOA and Continue process under below mention steps with 3M Escrow Account Procedure
