Privacy Policy

This is the privacy policy of WABSCO ENERGY LLC, a physical oil trading company headquartered in Dubai. We respect your privacy and are committed to protecting your personal data. This privacy policy will inform you about how we collect, use, and safeguard your personal data when you visit our website, interact with us, or use our services. It will also explain your rights and choices regarding your personal data and how you can contact us if you have any questions or concerns.

What personal data do we collect and why?

We may collect and process the following personal data about you for the purposes explained below:

• Identity data: such as your name, title, company name, and position. We collect this data to identify you, verify your identity, communicate with you, and provide you with our products and services.
• Contact data: such as your email address, phone number, and postal address. We collect this data to contact you, deliver your orders, send you invoices and receipts, and provide you with customer support.
• Transaction data: such as details of the contracts, products, and services you have purchased from us or provided to us, including payment and delivery information. We collect this data to fulfill our contractual obligations to you, process your payments, manage our accounts and records, and comply with our legal and regulatory obligations.
• Technical data: such as your internet protocol(IP) address, browser type and version, time zone setting and location, browser plug-in types and versions, operating system and platform, and other technology on the devices you use to access our website. We collect this data to monitor and analyze the performance, functionality, security, and usage of our website, products, and services, and to improve them for you and other users.
• Usage data: such as information about how you use our website, products, and services. We collect this data to understand your preferences, interests, needs, and expectations, and to provide you with personalized content, recommendations, offers, and advertisements that are relevant to you.
• Marketing and communication data: such as your preferences in receiving marketing materials from us and our third parties, and your communication preferences. We collect this data to send you promotional emails or newsletters that you have requested or consented to receive from us or our third parties and to measure the effectiveness of our marketing campaigns.

How do we share your personal data?

We may share your data with the following parties for the purposes described above:

• Our affiliates and subsidiaries: such as our parent company, sister companies, or joint venture partners. We share your personal data with them to coordinate our business activities, provide you with integrated products and services, and optimize our resources and operations.
• Our service providers: such as IT service providers, payment processors, delivery companies, marketing agencies, or professional advisers. We share your personal data with them to enable them to perform their functions and services on our behalf and under our instructions.
• Our business partners: such as buyers or sellers of crude oil or oil derivatives contracts or products that we trade with or on behalf of you. We share your personal data with them to facilitate the transactions, negotiations, communications, and contracts between us and them.
• Our regulators and authorities: such as governmental agencies, courts, law enforcement agencies, or other bodies that requires us to disclose your personal data by law or for legal reasons. We share your personal data with them to comply with our legal obligations, cooperate with their investigations or inquiries, defend our rights or interests, or enforce our contracts or policies.

How do we protect your data?

We take appropriate technical and organizational measures to protect your data from unauthorized access, use, disclosure, alteration, or destruction. These measures include:

• Using encryption, firewalls, passwords, and other security technologies to safeguard your personal data on our systems and networks.
• Limiting access to your personal data to only those employees, agents, contractors, and other third parties who have a legitimate need to know.
• Training our staff on data protection policies and procedures and requiring them to comply with them.
• Implementing policies and procedures to detect, report, and resolve any data breaches or incidents.

How long do we keep your data?

We will only retain your personal data for as long as necessary
to fulfill the purposes for which we collected it or to comply with our legal obligations. The retention period will depend on various factors such as the nature of the personal data, the purpose of the processing, the contractual relationship with you, the applicable laws and regulations, and our legitimate interests. We will delete or anonymize your personal data when it is no longer needed or required by law.

What are your rights regarding your data?

You have certain rights regarding your data under applicable laws. These rights may include:

• The right to access: You have the right to request a copy of the personal data we hold about you.
• The right to rectification: You have the right to request that we correct any inaccurate or incomplete personal data we hold about you.
• The right to erasure: You have the right to request that we delete or remove your data from our systems and records when there is no longer a legal basis for us to keep it.
• The right to restriction: You have the right to request that we limit the processing of your data in certain circumstances, such as when you contest its accuracy or object to its processing.
• The right to object: You have the right to object to the processing of your data based on our legitimate interests or for direct marketing purposes.
• The right to data portability: You have the right to request that we transfer your data to another party in a structured, commonly used, and machine-readable format, where technically feasible.
• The right to withdraw consent: You have the right to withdraw your consent to the processing of your data at anytime, where consent is the legal basis for the processing.
• The right to complain: You have the right to complain to a supervisory authority if you believe that we have violated your data protection rights..

How can you contact us?

If you have any questions or requests regarding this privacy policy or your data, please contact us at:

WABSCO ENERGY LLC
Business Centre 1, M Floor
The Meydan Hotel
Nad  Al Sheba, Dubai,U.A.E
info@wabsco.com.

Terms and Conditions

Welcome to the website of WABSCO ENERGY LLC, a physical oil trading company headquartered in Dubai. By accessing and using this website, you agree to be bound by the following terms and conditions. If you do not agree to these terms and conditions, please do not use this website.

Disclaimer: The information on this website is for general information purposes only and does not constitute an offer, solicitation, or recommendation to buy or sell any oil products or services. WABSCO ENERGY LLC does not guarantee the accuracy, completeness, or timeliness of the information on this website and reserves the right to modify, update, or delete any information at any time without prior notice.

WABSCO ENERGY LLC is not liable for any direct, indirect, incidental, consequential, or punitive damages arising from or in connection with your access to or use of this website or any information contained herein. WABSCO ENERGY LLC is not responsible for the content or privacy practices of any third-party websites that may be linked to or from this website. You access and use such websites at your own risk and discretion.

You are solely responsible for ensuring that your use of this website complies with all applicable laws and regulations in your jurisdiction. You agree to indemnify and hold harmless WABSCO ENERGY LLC and its affiliates, directors, officers, employees, agents, and contractors from and against any claims, liabilities, damages, losses, costs, or expenses arising from or relating to your breach of these terms and conditions or your use of this website.

These terms and conditions are governed by and construed in accordance with the laws of Dubai. Any disputes arising from or relating to these terms and conditions or your use of this website shall be subject to the exclusive jurisdiction of the courts of Dubai.

If any provision of these terms and conditions is found to be invalid or unenforceable by a court of competent jurisdiction, such provision shall be severed and the remaining provisions shall remain in full force and effect.

These terms and conditions constitute the entire agreement between you and WABSCO ENERGY LLC regarding your access to and use of this website. WABSCO ENERGY LLC may revise these terms and conditions at any time by posting an updated version on this website. You should check this website periodically for any changes. Your continued use of this website after any changes constitutes your acceptance of the revised terms and conditions..

KYC Policy and Procedure

At WABSCO ENERGY LLC, we are committed to conducting our business with integrity, transparency, and compliance with the applicable laws and regulations. We value our customers and partners and strive to establish long-term and mutually beneficial relationships with them. As part of our due diligence process, we require all our customers and partners to undergo a Know Your Customer (KYC) verification before engaging in any transactions with us.

Our KYC is a process of verifying the identity and legitimacy of our customers and partners, as well as assessing their risk profile and suitability for our business. The purpose of KYC is to help us to prevent money laundering, terrorist financing, fraud, corruption, and other illegal activities that may harm our reputation and expose us to legal liabilities.

 

Our KYC policy and procedure are based on the following principles:

• We collect and verify the relevant information and documents from our customers and partners, such as their name, address, contact details, business registration, ownership structure, source of funds, nature of business, etc.
• We screen our customers and partners to ensure that they are not involved in any prohibited or restricted activities or entities.
• We classify our customers and partners into different risk categories based on their geographic location, industry sector, transaction volume, complexity and frequency, etc. We apply a risk-based approach to determine the level of KYC verification and ongoing monitoring required for each customer and partner.
• We update our KYC records periodically or whenever there is a significant change in the customer’s or partner’s information or risk profile. We also conduct regular audits and reviews to ensure the quality and accuracy of our KYC data.
• We store and protect our KYC data in accordance with the applicable data protection laws and regulations. We only share our KYC data with the authorized personnel within our organization or with the relevant authorities when required by law or regulation.

 
At WABSCO ENERGY LLC, we are committed to conducting KYC in a timely and efficient manner, while respecting the privacy and confidentiality of our clients. We have a dedicated team of compliance professionals who oversee the KYC process and ensure that we adhere to the highest standards of due diligence. We also use advanced technology and tools to streamline the KYC workflow and enhance the customer experience.

By performing KYC, we aim to establish a long-term and mutually beneficial relationship with our clients, based on trust and transparency. We appreciate your cooperation and understanding in providing us with the necessary information and documents to complete the KYC process. If you have any questions or concerns, please do not hesitate to contact us.

 

Your questions answered!

Q: What is KYC and why is it important?
A: KYC stands for Know Your Customer, which is a process of verifying the identity and legitimacy of our clients and counterparties. KYC is important for complying with anti-money laundering (AML) and counter-terrorism financing (CTF) regulations, as well as for managing our risks and reputation.

Q: What are the KYC requirements for doing business with us?
A: The KYC requirements vary depending on the type and size of the transaction, the jurisdiction of the client or counterparty, and the level of risk involved. Generally, we require the following documents and information:

·        A completed and signed KYC questionnaire, which you can fill or submit online
·        A copy of the certificate of incorporation or registration
·        A copy of the memorandum and articles of association or equivalent
·        A copy of the passport or national ID card of the authorized signatory or representative
·        A copy of the trade license or permit
·        A copy of the latest audited financial statements or bank statements
·        A list of shareholders, directors, and beneficial owners
·        A reference letter from a reputable bank or financial institution
·        Any other documents or information that we may request on a case-by-case basis

Q: Can you help me fill out the KYC questionnaire online?
A: Yes, we can help you fill out the KYC questionnaire online. You can contact our customer service team at info@wabsco.com or +971 4 123 4567. They will guide you through the process and answer any questions you may have. Alternatively, you can also refer to our online guide that explains how to fill out the questionnaire step by step.

Q: What if I don’t have all the required documents or information?
A: If you don’t have all the required documents or information, please contact us as soon as possible at info@wabsco.com or +971 4 123 4567. We will try to assist you and find alternative ways to verify your identity and legitimacy. However, please note that we reserve the right to reject any transaction or business relationship if we are not satisfied with the KYC process.

Q: How do I know my KYC status?
A: You can check your KYC status by logging into your account on our website and clicking on the “KYC Status” tab. You will see one of the following statuses:

·        Pending: Your KYC questionnaire has been submitted but not yet reviewed by us.
·        Approved: Your KYC questionnaire has been reviewed and accepted by us. You can proceed with your transaction or business relationship.
·        Rejected: Your KYC questionnaire has been reviewed and rejected by us. You cannot proceed with your transaction or business relationship. Please contact us for more details.
·        Expired: Your KYC questionnaire has been approved but has expired due to changes in your information or regulations. You need to update your KYC questionnaire and submit it again.

Q: How long does it take to complete the KYC process?
A: The KYC process may take from a few days to several weeks, depending on the complexity and completeness of the documents and information provided. We appreciate your cooperation and patience in providing us with accurate and timely information.

Q: How do we protect your privacy and confidentiality?
A: We respect your privacy and confidentiality and we adhere to the highest standards of data protection and security. We only collect, use, store, and share your personal and business information for legitimate purposes and in accordance with applicable laws and regulations. We do not disclose your information to any third parties without your consent, unless required by law or authorized by our policies.

FAQs

Q: What is a physical oil trading company?
A: A physical oil trading company is a business that buys and sells crude oil and refined petroleum products in the global market. We deal with the actual delivery and transportation of the commodities, unlike financial oil traders who trade futures and options contracts.

Q: What are the products and services of your company?
A: Our company offers a wide range of products and services to meet the diverse needs of our customers. We trade crude oil and refined products such as AGO, PMs, HFO, LPFO, LPG, bitumen, LNG and Crude Oil. We also provide storage, blending and bunkering and logistics solutions to our clients.

Q: Where is your company headquartered and where do you operate?
A: Our company is headquartered in Dubai, United Arab Emirates. We have offices and operations in major oil hubs such West Africa. We have access to strategic terminals and storage facilities around the world, and we source our products from various regions across the world.

FAQs about products of a physical oil trading company’s website

Q: How do you ensure the quality and quantity of your products?
A: We adhere to the highest standards of quality and quantity control in our operations. We employ independent inspectors and surveyors to verify the specifications and measurements of our products at every stage of the supply chain. We also use reputable laboratories to conduct regular testing and analysis of our products.

Q: What are the terms and conditions of your contracts?
A: We negotiate the terms and conditions of each contract with our counterparties based on the market conditions and the specific requirements of each transaction. We follow the industry best practices and comply with the applicable laws and regulations in our contracts. Our terms and conditions of contracts include the price, delivery date, delivery location, payment method, quality specifications, quantity tolerance, force majeure clause and dispute resolution mechanism.

Q: How do you manage the risks involved in your trading activities?
A: We have a robust risk management system that covers market risk, credit risk, operational risk and compliance risk. We use various tools and techniques to monitor, measure and mitigate our risks, such as credit assessment, due diligence, insurance and internal controls. We also have a dedicated risk management team that oversees our risk management policies and procedures.

Q: How do you handle customer complaints and feedback?
A: We value our customer satisfaction and strive to provide excellent service to our customers. We welcome any complaints or feedback from our customers and we will respond to them promptly and professionally. We also have a complaint resolution process that ensures fair and transparent handling of customer complaints.

Q: How do you optimize your supply chain and logistics?
A: We optimize our supply chain and logistics by leveraging our global network of partners, suppliers, terminals, storage facilities, vessels and trucks. We plan, execute and monitor our supply chain and logistics operations for satisfactory results. We also adopt best practices such as just-in-time delivery, inventory management, quality assurance and safety standards to ensure efficient and reliable delivery of our products.

Q: What are the benefits of working with you?
A: We are a reliable and flexible partner that can meet your diverse needs and expectations. We have access to a global network of suppliers, customers, traders and brokers. We have extensive experience and expertise in the oil market. We can offer competitive prices and terms. We can also provide customized solutions and value-added services to optimize your business performance.