Commodity: Au Raw Material.
? Form: Gold Dory Bars
? Contracted Quantity: 12,000.0 KGS but with shipment minimum quantity of 1,000-3,000 KGS/month
? Purity:92% or better
? Fineness:22 or 24 carat
PROCEDURES OF THE CONTRACT.
•Buyer and Seller sign the Sales and Purchase Contract( this contract)
•Buyer and seller exchange copies via Electronic E-mail and Five (05) original copies of the contract will be sent by the Seller via DHL to Buyer’s office address to proper notarization is done.
•Within 02-03 after the contract is signed and is exchanged electronically, Buyer’s Bank sends via Swift a Bank Guarantee to seller’s nominated bank account the value of which is good for 500 kgs with price reference against the LME price on that day with 92.0% purity and eight (8.0) percent discount.
•Within 02-03 days after the seller’s bank confirmed the receipt of the Bank Guarantee, Seller initialize the proper documentation of the 500.0kgs Gold Dory Bars and upon completion, sends the complete scanned shipping documents to the Buyer via Electronic E-mail.
•Seller flies to the location via Airlines and advice the Buyer of his ETA.
•Buyer and Seller meet at the seller’s Hotel or Buyer’s office and discuss the procedures of the process from country's Customs, transportation and refinery process.
•The following day, buyer fetches the seller from his hotel and proceed to the airport to take out the gold from the customs bonded warehouse and bring to the buyer’s refinery.
•Refinery process is completed/done, final assay report is published and buyer pays the seller via TT or MT103 to seller’s nominated bank account.
•Upon confirmation of Seller’s Bank, Seller makes a report exchanging the ownership from the Buyer to the Seller.