POP (Proof Of Product). Basic set of documents for goods in international trade

 

In the world of international wholesale trade, including oil and petroleum products, where large volumes of goods are shipped across different countries and continents, ensuring the transparency of the transaction and verifying the authenticity of the goods is a matter of paramount importance. However, there are many fraudsters in the oil trade who seek to defraud customers by forging documents or offering non-existent or substandard goods. In order to protect the interests of customers and ensure successful transactions, it is necessary to strictly adhere to a certain set of documents, as well as to pay special attention to the details of verification of these documents. First of all, the presence of a correct and complete set of documents is necessary for the legal import of goods into the customs territory of the country of destination for customs clearance and import procedures. But also – the initial check and analysis of documents before the transaction, will allow the client to initially identify potential fraudulent actions on the part of the seller and make the right decision whether it is worth to make this transaction at all.

POP (Proof Of Product) value

In working practice they say “provide a POP for a product”, in fact it stands for providing a package of documents on product certification. We have described the deciphering of terms and acronyms in a separate article. The POP is a key element in petroleum product transactions. This document confirms the actual existence and availability of the product for sale. The importance of the POP is as follows:

1. Confirmation of the existence of the goods: The POP gives the buyer confidence that the goods actually exist and are available for purchase.
2. Transparency: These documents are proof that the seller possesses the goods offered for sale and clearly defines their characteristics.
3. Preventing fraud: Since many fraudsters try to defraud buyers by offering non-existent goods, having a POP helps reduce the risk of such fraudulent schemes.

You can read the full article test on the topic of POP (Proof Of Product), the basic set of documents for goods in international trade, at this link on REFRAT's website.