Sonangol Global Partner Due Diligence Terms

Last Updated: October 1, 2025

Article 1: Scope and Mandatory Agreement to Due Diligence

This agreement governs the use of the Sonangol Know Your Partner (KYP) platform and sets forth the mandatory conditions for initiating or maintaining a business relationship with Sonangol E.P. (or any of its subsidiaries, including those operating in the US, UK, and Singapore).[1] By proceeding with the application, the prospective Partner confirms full agreement and consent to the due diligence, screening, and monitoring processes outlined herein.

Article 2: Multi-Jurisdictional Compliance Mandate

The Partner acknowledges that Sonangol operates in global trading hubs and is therefore subject to the most rigorous international Anti-Money Laundering (AML) and Counter-Financing of Terrorism (CFT) regulations, including those enforced by the **United States**, the **United Kingdom**, and **Singapore**.[1]

KYC (Know Your Customer): Applies to crude off-takers and refined product distributors.
KYS (Know Your Supplier): Applies to operational service providers and contractors for major projects (e.g., refineries).
KYB (Know Your Business): Applies to complex joint venture, concession, and high-capital project partners, requiring forensic scrutiny.[1]

Article 3: Ultimate Beneficial Owner (UBO) Disclosure and Screening Consent

The Partner grants explicit, irrevocable consent for Sonangol and its authorized compliance partners to conduct comprehensive screening of the entity and all associated individuals, including directors, key executives, and all **Ultimate Beneficial Owners (UBOs)**.[1]

This includes continuous screening against global **Sanctions Lists** (e.g., OFAC, UN, EU), **Politically Exposed Persons (PEPs)** databases, and **Adverse Media** sources. Failure to provide complete UBO mapping and consent for screening will result in immediate rejection of the application, as this step is indispensable for mitigating corporate liability and fraud risk.[1]

Article 4: Continuous Monitoring and Data Integrity

The Partner understands that due diligence is not a one-time process. Sonangol’s KYP platform is engineered for **continuous digital diligence** to manage the ongoing geopolitical and regulatory risks inherent in the energy sector.[1] The Partner agrees to:

Maintain the accuracy of all submitted data, including any changes to legal status, ownership structure, or financial standing.
Allow Sonangol to securely store, verify, and cross-reference submitted data with external corporate registries and compliance data providers.
Promptly comply with requests for updated documentation following any detected change in risk profile or regulatory requirement.

Article 5: Governing Law

These Terms and Conditions shall be governed by and construed in accordance with the laws of the Republic of Angola, without regard to its conflict of law provisions. However, the Partner explicitly acknowledges that compliance and enforcement related to AML/CFT, sanctions, and anti-corruption shall adhere to the laws of the respective jurisdictions where transactions or due diligence are performed (e.g., US, UK, Singapore).[1]