1. General
Commodity trading and structured commodity transactions involve significant risk and may not be suitable for all parties. Counterparties should have adequate experience, advice and capacity to assess and bear these risks before engaging with Novara Commodities.
2. Indicative prices only
All prices, charts, tickers and market data displayed on this Site are indicative. They originate from third-party providers, may be delayed by several minutes, and are presented for general orientation only. They are not executable quotes and do not constitute a firm offer.
- Spot vs. forward vs. futures: the figures shown can refer to different reference markets and tenors that move independently from physical contract pricing.
- FX impact: commodity prices are typically quoted in USD; counterparties in other currencies bear the FX exposure unless explicitly contracted.
- When pricing becomes binding: a firm offer only arises in writing through a signed contract, after KYC clearance and counterparty acceptance.
- Refresh frequency: tickers and dashboards refresh on a fixed interval and should never be used as a basis for trading decisions.
3. No financial advice
Novara Commodities is a physical commodity trader/broker. We are not a licensed investment firm and do not provide services under MiFID II investment-advice rules. Nothing on this Site or in our communications constitutes investment, financial, accounting, tax or legal advice.
It is important to distinguish three layers of interaction:
- (a) Market information on the Site — generic, indicative data for context only.
- (b) An enquiry / RFQ — a non-binding commercial expression of interest from a counterparty.
- (c) Regulated financial or investment advice — explicitly not provided by Novara Commodities.
Counterparties must obtain independent professional advice before relying on any information shown or before entering into a transaction.
4. Enquiry vs. binding contract
A submitted enquiry is the start of a commercial conversation, not a contract. The typical path from enquiry to execution is:
- Enquiry — counterparty submits commodity, volume, destination and Incoterm. No obligation on either side.
- Soft offer — indicative pricing and terms shared by the trade desk, subject to change and counterparty acceptance.
- LOI / ICPO — Letter of Intent or Irrevocable Corporate Purchase Order signaling serious intent.
- Contract & KYC — full sale & purchase agreement is drafted; KYC is completed on all parties.
- Performance bond / payment instrument — LC, SBLC or equivalent is issued per agreed terms.
- Execution — shipment, inspection, documentary handover and settlement.
A legally binding obligation only arises upon a signed contract between properly KYC-cleared entities. All earlier stages remain non-binding and indicative.
5. Market data — source and frequency
Market data on this Site is sourced from third-party providers and, where applicable, demo or sample data for illustration. It is published on a delayed basis and refreshed periodically. It is not a regulated benchmark, not an executable feed, and must not be used to make trading or hedging decisions.
6. Intended audience and suitability
This platform is intended for professional B2B counterparties: producers, refineries, traders, brokers, mandates and industrial end-buyers with relevant experience in physical commodity flows. It is not intended for consumers, retail investors or parties without the operational and financial capacity to engage in structured commodity transactions.
7. Counterparty, sanctions and execution risk
- Counterparty risk: a supplier, buyer, bank or logistics provider may fail to perform.
- Sanctions and compliance: jurisdictions of origin, destination, vessel, parties and beneficial owners must comply with applicable sanctions regimes.
- Logistics risk: physical commodity flows depend on shipping, inspection, storage, and customs processes that can be disrupted.
- Documentation risk: letter-of-credit, contract, NCNDA/IMFPA and commission-flow documents must be drafted and executed with care.
- Currency and price risk: commodity prices and FX rates fluctuate; hedging is the counterparty's responsibility unless explicitly contracted.
8. Fraud awareness
The commodity sector is a known target for fraud. Counterparties should be wary of unsolicited offers, unrealistic prices, requests for upfront payments to unverified accounts and any pressure to bypass documentation. Novara Commodities will never request payment before contract execution and KYC clearance, and will never instruct a change of bank account by email alone.
9. Limitation of liability
To the maximum extent permitted by applicable law, Novara Commodities accepts no liability for any loss, damage or expense arising from reliance on information shown on the Site, market data inaccuracies, or decisions to enter or not enter into a transaction.
10. Contact
Questions about this Risk Disclaimer can be sent to trade@novaracommodities.com.