Securing letters of intent from Asian potash buyers for a Canadian logistics company

The client, a Canadian logistics company, ships potash, chemicals and other goods to customers around the world.

The client is applying for funding from the Canadian government to build a container terminal in Canada. The terminal will let potash be loaded into containers, while today it is shipped in bulk. As part of the application, the client needed letters of intent from buyers in Asia who want to buy potash shipped this way.

• The funding application had a fixed deadline, which left about two weeks to secure the letters
• Buyers had to be found in several countries at the same time
• Each buyer had to be willing to put its interest in writing on company letterhead
• The letters had to come from real buyers that the funding authority would take seriously: fertiliser producers, distributors and trading houses

APAC Advantage was engaged to find potash buyers in Southeast Asia and secure signed letters of intent for the client's funding application.

Built the buyer list

We listed fertiliser producers, distributors and trading houses in Vietnam, Malaysia and Indonesia, starting from APAC Advantage's own network and adding new contacts through direct outreach.

Contacted around 30 buyers

We reached out to around 30 companies, explained the client's plan and what a letter of intent would and would not commit them to.

Met buyers in person and online

We held meetings with interested buyers, both face to face and by video call, to answer their questions and move them to a decision within the deadline.

Collected and checked the letters

We helped each buyer prepare its letter, checked that it contained what the funding application needed, and delivered the signed letters to the client.

• 10 signed letters of intent secured in two weeks
• Letters from buyers in Vietnam, Malaysia and Indonesia
• Buyers include fertiliser producers, distributors and trading houses
• The letters were used in the client's application for government funding
• The next phase is to turn the letters of intent into purchase agreements and find more buyers