How the pieces fit
Supplier verification is the file that asks whether this legal person, this mill or plant, and these goods can be taken into a transaction. KYC establishes who the company is. UBO identification looks through to the natural persons who own or control it. Sanctions screening checks product, producer and parties against applicable lists and rules. Document verification checks that certificates match names and lots. Commercial verification checks that capacity and grades can actually be described. None of these steps, alone or together, means a counterparty is “fully verified”, risk-free or guaranteed.
Who is on the file
Legal existence comes first: registered name and jurisdiction, matching the letterhead. Then say whether the performing producer is the same company as the trader. A permitted trader does not make a restricted mill eligible. A stockholder should be able to show that the material exists and can be inspected.
KYC and UBO in a trade file
KYC answers who the legal person is. UBO answers who ultimately owns or controls it. FATF Recommendation 24 is the international standard on beneficial-ownership transparency of legal persons. TTC is not a KYC software vendor and does not issue FATF certificates. See https://www.fatf-gafi.org/en/publications/Fatfrecommendations/Guidance-R24-beneficial-ownership.html
Product, producer and documents
Compliance standing is checked against the goods and the producer, not only the invoice party. Documents should corroborate identity and lot; they are not a clearance certificate for a future shipment. Banking details are confirmed later in writing, not in an unsolicited first email.
When TTC declines a file
TTC’s process can stop an inquiry after screening. That is a process outcome, not a statement that every accepted file is safe. Buyers submit an RFQ. Suppliers use supplier partnership. Do not send a marketing deck in place of corporate documents and product certificates.
Primary sources
FATF Recommendation 24 guidance: https://www.fatf-gafi.org/en/publications/Fatfrecommendations/Guidance-R24-beneficial-ownership.html