As part of our compliance process, Agrolexica carries out Know Your Customer (KYC) checks before entering into or continuing business relationships where such review is considered necessary. The purpose of this process is to understand the identity of the counterparty, its ownership and control structure, the nature of its business activities and the general profile of the intended commercial relationship.
The onboarding process includes review of company information, Ultimate Beneficial Ownership (UBO), source of funds, expected transaction profile and supporting corporate documentation. Agrolexica may also screen relevant parties for sanctions exposure, Politically Exposed Person (PEP) status, adverse media and other risk factors relevant to the transaction or jurisdiction involved.
Where appropriate, counterparties may be asked to provide documents such as company registration records, shareholder or UBO information, identification documents, proof of address, financial or tax documents and VAT-related information. Agrolexica may request additional information where needed to complete its review.
Compliance review is intended to support responsible business conduct, contractual clarity and proper risk assessment in cross-border commodity trade. Information provided in the onboarding process is handled confidentially and used for compliance, risk management and relationship assessment purposes. The onboarding guidance in Agrolexica’s form also states that information is processed in compliance with GDPR.