BGC engages co-brokers who hold verifiable mandates from first-tier principals. Chain rules are non-negotiable. All co-brokerage inquiries route through the ClearBridge portal — no exceptions.
BGC does not engage with broker chains, unverifiable mandates, or intermediaries who cannot demonstrate direct authority. The following apply to all co-brokerage engagements without exception.
Your principal must be a first-tier mandate holder — a direct buyer, seller, or verified mandate representative. BGC does not participate in sub-mandate chains.
The principal behind your mandate must be identifiable and willing to execute BGC's NCNDA/IMFPA. Anonymous or unnamed principals are not accepted.
Submissions from a verifiable company domain receive priority review. Free-email submissions (Gmail, Yahoo, etc.) are accepted but subject to enhanced verification before counterparty engagement proceeds.
BGC's NCNDA/IMFPA covers all parties accessing counterparty information — not only the direct co-broker. All parties in your chain who will receive identity data must execute.
BGC operates within a maximum three-party broker chain: Seller Side — BGC — Buyer Side. BGC counts as one party in any chain regardless of how many co-brokers operate within its own network.
Deals presented through chains that would require BGC to act as a fourth or subsequent party are declined. BGC does not compress chains, accept undisclosed sub-brokers, or agree to structures that obscure the party count from principals.
If you are a second-tier or further intermediary, your mandate does not qualify for BGC engagement. The correct path is to present the deal through the first-tier mandate holder directly.
All co-brokerage inquiries begin at the ClearBridge portal. Select "Co-Broker Sell" or "Co-Broker Buy" as your side. Provide terminal or warehouse identification, commodity, volume, and delivery basis. Do not submit without at least a terminal name and basic allocation confirmation.
BGC reviews the submission against chain rules, mandate plausibility, and initial sanctions indicators. If the submission advances, BGC responds within five business days with confirmation of next steps.
BGC sends its NCNDA/IMFPA for execution by all parties in your chain who will access counterparty information. Commission split is documented at this stage. No identity is disclosed before signatures are returned.
BGC issues an Introduction Notice. Both sides proceed through the established sequence: ICPO → SCO/FCO → LOI → SPA. BGC manages the introduction and procedure coordination through close.
Per metric ton, per month. Standard rate for EN590 and equivalent refined products. Rates for crude and LNG positions are negotiated per deal. Protected under IMFPA from NCNDA execution.
Co-brokerage splits are negotiated at the NCNDA stage based on the nature and strength of the mandate. Documented in the IMFPA and irrevocable once executed. BGC does not adjust splits after introduction.
Commission is earned at close. No advance fee is charged at any stage. Any party soliciting advance fees in BGC's name is committing fraud.