Gold Bullion(AU) Details
Gold Bullion(au)-Gold Dores-Gold Nuggets-Gold Dusts.
Min Req.-1 MT
Supply Ability:-Upto Available Amount
Fineness:999.5%
Form:12.5KG of GLD Standard
Purity:22/24 Carats
Hallmark:Internationally Accepted(Johnson & Mattney)
Age:Less than 5 years
TRANSACTION PROCEDURES FOR LONDON GOOD DELIVERY-GOLD BULLION PURCHASE.
1. Seller/seller mandate issues a Soft Offer for buyer’s consideration to review terms and procedures and advise any amendments. If the seller’s terms and procedures are acceptable, the Buyer /Buyer Mandate will counter sign the Soft Offer and issue a Letter of Interest.
2. Seller/sellers mandate issues a Full Corporate Offer (FCO) with complete official documentation/coordinates including seller/sellers mandate papers and passport.
3. Buyer issues Letter Of Intent (LOI) and Ready Willing and Able (RWA) “under full bank responsibility”.
4. The Buyer and the Seller execute a Sale and Purchase Agreement for the acquisition of LGD Standard Au Metal Bullion (an “SPA”), including an Irrevocable Master Fee Protection Agreement (an “IMFPA”) and the Seller’s Bullion Banker’s complete contact coordinates, electronically, which electronic execution shall be legally binding on the Parties.
5. Coordinating Banker (Bank of XXXX) will call the Seller’s Bullion Officer and give a statement that (Buyer) are RWA to transact the Initial Lift of (XXXX MT) of Product; the Seller’s Bullion Officer will confirm that the Seller is RWA to deliver the Product to the Buyer as per the terms of the Agreement (citing the Transaction Codes given hereinabove). The appointment call referenced in Paragraph “6” below will be scheduled for the following day by (XXXX) Coordinating Banker and the Seller’s Bullion Officer.
6. The Purchasing Bank’s Transaction Officer (representing the ultimate Buyer, a Top World Bank) contacts the Seller’s Banker and the two bankers organize the rapid exchange of proof of product (“POP”) for proof of funds (“POF”).
7. The sale and purchase of the Initial Lift of (insert number) metric tons (XX MT) of Au Metal then is closed between the Purchasing Bank and the Seller, on a payment against delivery basis, ledger-to-ledger, as per the Delivery Date given for said Lift in the Delivery Schedule of the SPA. All Consultancy Fees as given in the IMFPA will be paid simultaneously to the ultimate Buyer’s purchase of each Lift.
8. If the buyer chooses not to lift the Au Metal, then the transaction will be closed on a Bank to Bank, ledger to ledger basis of ‘transfer of title to the Buyer’ in exchange for ‘cash payment to the sellers’ bank account.
9. All consultancy fees as detailed in the IMFPA will be paid simultaneously from the buyer’s bank to the paymasters. The paymasters will simultaneously manage the division of consultancy fees payable to all intermediaries
Note: While the Buyer prefers to close on a Bank to Bank, ledger to ledger basis, the Buyer is willing to travel to meet the Seller once the SPA has been signed for final execution and the Au has been verified to the buyer via bank or bullion officer.
Min Req.-1 MT
Supply Ability:-Upto Available Amount
Fineness:999.5%
Form:12.5KG of GLD Standard
Purity:22/24 Carats
Hallmark:Internationally Accepted(Johnson & Mattney)
Age:Less than 5 years
TRANSACTION PROCEDURES FOR LONDON GOOD DELIVERY-GOLD BULLION PURCHASE.
1. Seller/seller mandate issues a Soft Offer for buyer’s consideration to review terms and procedures and advise any amendments. If the seller’s terms and procedures are acceptable, the Buyer /Buyer Mandate will counter sign the Soft Offer and issue a Letter of Interest.
2. Seller/sellers mandate issues a Full Corporate Offer (FCO) with complete official documentation/coordinates including seller/sellers mandate papers and passport.
3. Buyer issues Letter Of Intent (LOI) and Ready Willing and Able (RWA) “under full bank responsibility”.
4. The Buyer and the Seller execute a Sale and Purchase Agreement for the acquisition of LGD Standard Au Metal Bullion (an “SPA”), including an Irrevocable Master Fee Protection Agreement (an “IMFPA”) and the Seller’s Bullion Banker’s complete contact coordinates, electronically, which electronic execution shall be legally binding on the Parties.
5. Coordinating Banker (Bank of XXXX) will call the Seller’s Bullion Officer and give a statement that (Buyer) are RWA to transact the Initial Lift of (XXXX MT) of Product; the Seller’s Bullion Officer will confirm that the Seller is RWA to deliver the Product to the Buyer as per the terms of the Agreement (citing the Transaction Codes given hereinabove). The appointment call referenced in Paragraph “6” below will be scheduled for the following day by (XXXX) Coordinating Banker and the Seller’s Bullion Officer.
6. The Purchasing Bank’s Transaction Officer (representing the ultimate Buyer, a Top World Bank) contacts the Seller’s Banker and the two bankers organize the rapid exchange of proof of product (“POP”) for proof of funds (“POF”).
7. The sale and purchase of the Initial Lift of (insert number) metric tons (XX MT) of Au Metal then is closed between the Purchasing Bank and the Seller, on a payment against delivery basis, ledger-to-ledger, as per the Delivery Date given for said Lift in the Delivery Schedule of the SPA. All Consultancy Fees as given in the IMFPA will be paid simultaneously to the ultimate Buyer’s purchase of each Lift.
8. If the buyer chooses not to lift the Au Metal, then the transaction will be closed on a Bank to Bank, ledger to ledger basis of ‘transfer of title to the Buyer’ in exchange for ‘cash payment to the sellers’ bank account.
9. All consultancy fees as detailed in the IMFPA will be paid simultaneously from the buyer’s bank to the paymasters. The paymasters will simultaneously manage the division of consultancy fees payable to all intermediaries
Note: While the Buyer prefers to close on a Bank to Bank, ledger to ledger basis, the Buyer is willing to travel to meet the Seller once the SPA has been signed for final execution and the Au has been verified to the buyer via bank or bullion officer.