G-L,


Regarding brokerage companies, I have owned and operated one since 1994. I
would like to give you guys an overview of what transpires in the World of
brokerage, but due to the Ramadan schedule, this may be a billte while
coming. However, just give me a little time,. and i will tell you all about
it.

Some of you guys may remember that i had sent an enquiry to the list sometime
back because i had South African Buyers for groundnuts.

When selling via a bropkerage company, the most important thing is that the
owner of the goods is the one to enter into the contract, and in this case
with Hilo, that would have been the farmers themselves. This is important
because if the owner of the goods is not the one signing the contract, and
setting the commission scale, (just a fraction of the proceeds) that is where
the potential for fraud comes in. An unsuspecting provider can have his goods
taken by an unscrupulous broker, and sold at a price way above what the owne
of the goods is told. I am sure the Gambian farmers did not sign the contract
and the fee agreement for our illustrious middleman Mr Collins and whoever is
in cohoots with him. These Farmers would need to be told what the price of
groundnuts on the Word market is, and then that is the price they sell at
minus a discount if they are selling to a wholesaler, and no discount if they
are selling to end users.

I will get into more detail on this business teime permitting inshallah.

Jabou Joh

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