Operating in the international petroleum market carries significant regulatory obligations and reputational responsibilities. Aurore Commodities takes these obligations seriously and has embedded compliance into the fabric of our operations rather than treating it as a peripheral function.
We believe that strong compliance is not simply a regulatory requirement. It is a commercial advantage. Buyers, banking partners and counterparties want to work with companies that they can trust to operate within the law, to conduct thorough due diligence and to maintain the highest standards of corporate governance.
Our compliance framework is designed to meet this expectation at every stage of every transaction, from the initial counterparty screening through to final settlement and documentation.
Our compliance programme is built on six core pillars, each designed to ensure that Aurore Commodities operates with integrity, transparency and full regulatory adherence.
Before entering into any commercial engagement, we conduct comprehensive KYC verification on every counterparty. This includes identity verification, beneficial ownership analysis, corporate structure review and assessment of the counterparty's business operations and reputation. No transaction proceeds until KYC requirements have been fully satisfied.
Our AML procedures are designed to detect and prevent the use of our trading operations for money laundering or terrorist financing. We monitor transaction patterns, verify the source and destination of funds and maintain detailed records of all financial flows associated with every transaction.
All counterparties, vessels, ports and jurisdictions involved in our transactions are screened against current international sanctions lists maintained by the United Nations, the European Union, the United States (OFAC), the United Kingdom and other relevant authorities. Screening is conducted at the outset of each transaction and repeated at key milestones.
Aurore Commodities maintains a zero-tolerance policy towards bribery and corruption in all its forms. We prohibit the offering, giving, soliciting or accepting of any improper inducement, whether directly or through third parties. Our personnel and agents are required to comply with all applicable anti-bribery laws, including the UK Bribery Act and the US Foreign Corrupt Practices Act.
Every sale and purchase agreement, charter party and financial instrument is drafted or reviewed by qualified legal counsel. Our contracts incorporate clear provisions for dispute resolution, force majeure, quality specifications and payment terms to ensure that the rights and obligations of all parties are unambiguous.
Aurore Commodities maintains transparent corporate governance with clear lines of accountability, proper record-keeping and regular review of our compliance procedures. We engage independent legal counsel and compliance advisors to ensure our procedures remain current and aligned with evolving regulatory requirements.
We apply a structured due diligence process to every counterparty before entering into any commercial relationship. This process is designed to ensure that we only transact with legitimate, reputable organisations that share our commitment to ethical business conduct.
Our due diligence covers corporate registration and legal standing, beneficial ownership and control structure, financial standing and creditworthiness, trade references and commercial history, sanctions and PEP screening, and site verification where appropriate.
Aurore Commodities works exclusively with established, reputable international banking institutions for the financial instruments that underpin our trading operations. We recognise that the integrity of the payment mechanism is as important as the quality of the product being delivered.
Our transactions are typically supported by documentary letters of credit (LC), standby letters of credit (SBLC) and bank guarantees issued by recognised financial institutions. We work closely with our banking partners to ensure that all instruments are structured correctly, issued promptly and administered in accordance with ICC Uniform Customs and Practice for Documentary Credits (UCP 600).
We do not engage in transactions where the proposed payment mechanism raises compliance concerns, regardless of the commercial opportunity involved.
