Trade Terms
Letter of Authorization (LOA) and Authority to Verify (ATV)
PetroIntermediation TeamTrade Terms
LOA (Letter of Authorization) — notarized document from refinery/producer authorizing a mandate to act on its behalf for a specified period.
ATV (Authority to Verify) — instruction allowing buyer's bank to contact seller's bank for verification of POF, allocation, or instrument issuance.
No LOA = no mandate. No ATV = no verification. Refuse deals that lack either.
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