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Nelum

For agents

Authority in writing, checkable by the person across the table

Why nobody believes a mandate

The word has been used so loosely for so long that producing one now counts against you. That is a problem worth fixing structurally rather than by protesting your good faith.

Everyone in the chain claims a mandate

A doré offer commonly reaches a refining desk through four or five people, each describing themselves as the mandated agent for the seller. Each is forwarding the last one's email. None can produce the company they say they act for.

Because that is the norm, a genuine agent is treated exactly like the four who are not. The cost of the impostors is paid by the people doing the job properly.

A signed letter proves less than you think

The authority letter is a PDF. It can be edited, it can be months out of date, it says nothing about what happens if the principal changes their mind, and the counterparty has no way to check any of that without calling a company they do not yet know.

Scope is assumed, then exceeded

An introducer is trusted to introduce, and then commits their principal to a price. Nobody wrote down which of those two things was permitted, so the argument happens after the offer is made rather than before.

Nobody can tell who you actually are

You arrive at a meeting, or a mine site, representing a company the other party has never dealt with. Your evidence is a business card and an email domain.

Your public member page is served by Nelum, not by you, and shows who you are and whether your identity check passed — readable on a phone by the person in front of you.

How a seat works

  1. 01

    The company invites you

    A holder or manager of the company invites you to a seat. It does not open until you have passed your own identity check.

  2. 02

    The seat carries one role

    Holder, manager, trader, operator or reader. A trader may post and answer intents in the company's name and work its consignments; a reader may only read. Roles are assigned by the company's holder, not by you.

  3. 03

    What you post is the company's

    An intent or an answer you post through the seat is posted in the company's name.

  4. 04

    It ends when they say

    The company can revoke your seat at any time, and your authority to act for it ends with it.

The credential you carry

Authority is corporate, but trust in this trade is personal. You are not trusted because of the letterhead; you are trusted because somebody met you in Lagos and you were who you said you were.

The credential is built for that meeting — checkable on a phone, by somebody who has never heard of you.

It belongs to you, not the company

Your identity check belongs to you as a person, and you may hold seats at more than one company. If you leave a company, your profile and your check do not stay behind.

It is checkable by a stranger

Your public member page, served by Nelum, shows your name and whether your identity check passed. The person checking does not need an account.

It shows status, never documents

A counterparty sees that verification passed. They never see your identity documents, your address, or anything you submitted to obtain it.

Questions agents ask

Can I act for more than one company?

Yes. You may hold a seat at more than one company, each with its own role, and you choose which company you are acting for each time you post.

Does my principal see what I do in their name?

Yes. What you post or answer through a seat is in the company's name, and its consignments and documents sit in the company's own workspace, not yours.

Do I need my own company on the platform?

Not to act for another company: that company gives you a seat, and you pass your own identity check before it opens. An agency that wants to act in its own name registers and is checked like any other company.

Can I take a commission through the platform?

Your commercial arrangement with your principal is between the two of you; Nelum is not a party to it and does not process it. The platform is not a broker and takes no percentage of any trade.

Stop proving you are not the other four

Register your agency, get verified, and let the credential do the arguing for you.