Question 1

Why would an Amsterdam-based trading house at Vitol or Trafigura level use LCORE instead of ABN AMRO LC?

Accepted Answer

For trades with counterparties in jurisdictions where ABN AMRO declines to issue or confirm LCs (Iranian intermediaries, Sudanese traders, Russian-nexus deals), LCORE provides the settlement alternative. For jurisdictions where ABN AMRO LCs work fine, LCORE competes on speed: 2-3 days vs. 10-15 days. At Vitol or Trafigura's transaction velocity, 12 days of saved settlement time per deal, multiplied across hundreds of annual transactions, represents significant working capital benefit.

Question 2

Does LCORE work for energy commodity settlements from Amsterdam — crude, LNG, petroleum products?

Accepted Answer

Yes. Amsterdam/Rotterdam energy traders purchasing crude from West Africa, LNG from Qatar, or petroleum products from Russia (through compliant intermediaries) can use LCORE DVP for the payment leg. Oil BLs from loading terminals are the standard settlement trigger. LCORE's $250M per shipment Lloyd's insurance is adequate for standard oil cargo values; larger cargoes may require multiple concurrent LCORE escrow arrangements.

Question 3

How does LCORE's ADGM jurisdiction interact with Dutch law for Amsterdam-based trading companies?

Accepted Answer

The Netherlands and UAE have a bilateral investment treaty, and Dutch courts generally recognize ADGM/English Common Law arbitration awards. Amsterdam-based trading companies executing LCORE DVP contracts are agreeing to ADGM jurisdiction for the settlement leg — their own corporate governance and Dutch law obligations are unaffected. Dutch commodity traders (Rabo, ABN AMRO clients) are familiar with English Common Law contracts — GAFTA and FOSFA standard forms already use English law, making ADGM contracts operationally familiar.

Amsterdam Commodity Traders Use Gold DVP to Cut Settlement Time in Half

DVP Gold Settlement from Amsterdam