Corporate boardroom at dusk with contract documents and a seal on the table

Compliance & Legal

Standards banks and refineries can review.

MIPEC Trade & Solutions B.V operates under a documented compliance framework. These standards apply to every counterparty in the transaction chain, without exception.

Policy framework Sanctions screening Legal & arbitration

0 Pillars

KYC, AML, sanctions and ethics

0 Lists

EU, UN, UK and OFAC screening

Counterparties screened before offer

Framework

Four compliance pillars

Each pillar is applied before commercial discussion advances. A counterparty that cannot satisfy a pillar is not presented to the other side of the chain.

KYC

Know Your Customer

Before any transaction is structured, MIPEC collects and reviews the full corporate identity file of each counterparty. Incomplete files are not progressed to offer stage.

Certificate of incorporation and registry extract
Passport copies of authorised signatories
Proof of registered address and operating office
Bank reference letter and Company Information Sheet

AML

Anti-Money Laundering

MIPEC applies anti-money laundering principles consistent with EU directives and Dutch regulations. Source of funds and the commercial rationale of every transaction are assessed.

Source of funds and source of wealth review
Assessment of commercial logic and pricing plausibility
Rejection of unusual or third-party payment routing
Escalation and withdrawal where doubt cannot be resolved

SANCTIONS

International sanctions compliance

All counterparties, vessels and product origins are screened against EU, UN, UK and OFAC lists. MIPEC does not participate in transactions involving sanctioned parties or evasion structures.

Entity, UBO and banking chain screening
Vessel, IMO number and AIS behaviour review
Product origin and blending history checks
No tolerance for concealed ownership or falsified papers

ETHICS

Trade ethics statement

MIPEC commits to honest representation of product availability, transparent fee structures and full confidentiality of counterparty information at every stage of the chain.

No offers based on non-existent allocations
Disclosed, written commission and fee structure
Confidential handling of counterparty documents
Immediate withdrawal from misleading chains

Screening

Lists applied to every chain

Screening covers the entity, its ultimate beneficial owners, its bank, the nominated vessel and the declared product origin — repeated whenever the chain changes.

Consolidated financial sanctions list of the European Union

United Nations Security Council consolidated list

OFSI UK sanctions list and asset freeze targets

OFAC

US Treasury SDN and sectoral sanctions identifications

Non-negotiable

What MIPEC will not do

The framework is only meaningful if it produces refusals. The following situations end MIPEC's participation in a chain immediately, regardless of transaction size.

See the verification process

Counterparties appearing on, or owned by parties on, any applicable sanctions list

Product of sanctioned origin, or origin that cannot be documented

Requests to structure payments through unrelated third parties

Documents that the issuing bank, terminal or inspector will not confirm

Advance-fee proposals presented ahead of verification

Any request to alter, backdate or reissue transaction documents

Governance

How the framework is operated

Jurisdiction

MIPEC Trade & Solutions B.V is incorporated in the Netherlands and operates under Dutch corporate and commercial law.

Role definition

MIPEC acts as an advisory and coordination party. It is not a refinery, terminal operator or licensed financial institution.

Contractual basis

Rights and obligations of buyer and seller are defined solely in the executed Sales and Purchase Agreement.

Data confidentiality

Counterparty documents are shared strictly on a need-to-know basis with the parties required to complete verification.

Record retention

KYC, screening results and transaction correspondence are retained in line with applicable Dutch retention requirements.

Refusal right

MIPEC reserves the unconditional right to decline or exit any transaction that does not satisfy this framework.

Legal & Arbitration

ICC arbitration reference

All transactions structured by MIPEC Trade & Solutions B.V operate under international commercial principles and may be subject to ICC arbitration depending on contractual agreements.

Governing law, jurisdiction and dispute resolution are defined in each Sales and Purchase Agreement. Nothing on this website constitutes an offer, a guarantee of supply or legal advice.

Request our compliance pack Trading procedure