The Allocation Commitment Letter (ACL) for products is issued by the Chamber of Commerce. This is the official confirmation that the allocation belongs to the buyer. For the same reason, it is impossible by law to issue the ACL without a (non-operative) guarantee for the payment.
In the past, people would sell a lot of futures twice or more based on intentions from the buyers. This way the value of the Allocation Commitment Letters went down due to “good intentions” that never happened in real life. By end of the day the ACL the same way ended up as “Intentional”.
Today, this has all changed; today, the Allocation Commitment Letter is a true commitment. And ONLY the Chamber of Commerce can issue such. The Allocation Commitment Letter is the ONLY genuine and real Proof of Product.