What's changed? Previously, deals could advance through the pipeline based on trust alone. Now, each deal requires documented proof at every stage. This protects both buyers and sellers from incomplete agreements, mismatched logistics, and unpaid settlements.

01
🤝
Initial Interest
Both parties
confirm intent
02
📄
ICPO / FCO
Irrevocable or Firm
Commitment presented
03
💰
Proof of Funds
Payment capacity
confirmed
04
🚢
Logistics & Title
Vessel / terminal
confirmed
05
Settled
Deal closed &
commission due
⛓️

Sequential Gating

Each stage must be verified before the next one unlocks. Skipping ahead requires admin override.

🔍

Admin Review

BarrelBridge staff review every document submission before a stage is marked verified.

📧

Instant Notification

Both parties receive email notification when a document is submitted and when it's approved.

📄
Stage 2

ICPO / FCO

  • Written commitment letter from issuing bank or authorized party
  • Full legal name and address of issuing institution
  • Commodity, volume, and price clearly stated
  • Validity period and terms of withdrawal
💰
Stage 3

Proof of Funds

  • Bank confirmation letter or account statement (dated within 30 days)
  • Available balance covering at minimum the declared deal value
  • Bank contact details for independent verification
🚢
Stage 4

Logistics & Title Transfer

  • Vessel nomination with IMO number (AIS-verified) or terminal confirmation
  • Bill of Lading or title transfer instrument
  • Storage and throughput agreement if terminal-stored
Settlement

Final Close

  • MT103 SWIFT confirmation for payment wire
  • Quantity and quality dispute resolution on record
  • Both parties confirm deal completion in portal
ℹ️

No advancement without verification. A deal cannot move from Negotiating → Under Contract or Under Contract → Closed until the required documents for that stage have been submitted and approved by BarrelBridge admin. If you have questions about what documents are needed for your deal, contact us at barrelbridge-2@polsia.app.

Have an active deal?

If you're already mid-deal on BarrelBridge, check your deal dashboard for the verification checklist and upload your documents there.