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PROCEDURE FROM BUYER
A. THE SELLER SENDS AND SIGNS THE FCO. THE SELLER and MANDATE
MUST ALSO PROVIDE INFORMATION ON HIMSELF AND PROVE PRODUCT
FOR DUE DILIGENCE BEFORE THE XXXXXXXXXXXX IS SIGNED.
THE FINAL FEE AGREEMENT (The IMFPA does not require XXXXXX signatures) &
XXXXX GOLD PURCHASE CONTRACT SHALL BE SIGNED BY THE SELLER
AND SELLERS BANK AND SENT TO THE XXXXXXXXXXXXXXx FOR
SIGNATURES. THE SIGNED AND NOTARIZED CONTRACTS SHALL BE
LODGED WITH THE RESPECTIVE BANKS. THE XXXXX DOES NOT PROVE
B. THE SELLER’S SHALL PROVIDE CONTACT INFORMATION REGARDING
THE SELLERS BULLION OFFICER OR MINERS CORPORATE AUTHORIZED
OFFICER AND THE BUYERS BULLION OFFICER AND SELLERS BULLION
OFFICER / MINERS OFFICER SHALL COMMUNICATE OR VICE VERSA, TO SET
A WINDOW TIME FOR CONFIRMING THE STOCKS AND DOCUMENTS. AN
INVITATION SHALL BE ISSUED FOR BUYER’S BANK OFFICER AND BULLION
OFFICER TO VISIT SELLER’S BANK TO VIEW DOCUMENTS AND INSPECT
C. UPON CONFIRMATION BY THE SELLER’S BULLION OFFICER OR MINERS
OFFICER OF THE AVAILABILITY OF THE DOCUMENTS AND STOCKS, THE
BUYER’S OFFICER SHALL CONFIRM TO THE SELLER’S BANK OFFICER THE
METHOD OF PAYMENT FOR AU
D. AFTER VERIFICATION AND CONFIRMATION BY BOTH PARTIES AS
STATED ABOVE, A WINDOW TIME TO IMPLEMENT THIS FINAL PURCHASE
CONTRACT AND DELIVERY SCHEDULE SHALL BE AGREED UPON BY THEIR
RESPECTIVE OFFICERS AND BANK OFFICERS. OFFICIAL TRANSFER OF
MATERIAL TO THE XXXXXXXXX AND ALL NECESSARY DOCUMENTS FROM THE
SELLER/OWNER TO THE BUYER WILL BE EXECUTED.
E. LIFTING AND TRANSFER OF THE SUBJECT COMMODITY TO BUYER’S
CHOSEN DESTINATION SHALL BE AT BUYER’S ACCOUNT AND
RESPONSIBILITY. THE SELLER SHALL ASSIST THE BUYER IN SECURING AN
EXPORT PERMIT IF NECESSARY, AT BUYER’S ACCOUNT AND
PLEASE NOTE ALL PARTIES INVOLVED IN BULLION TRANSACTION WITH
XXXXX– FROM SELLER, MANDATE AND BUYER INTERMEDIARIES ETC.. are
required to provide PHOTOCOPIES OF THEIR ID’S PASSPORT NUMBERS,
ADDRESS, TELEPHONE AND FULL NAMES, for over to XXXXXXX verification – which
usually takes approximately 48hrs.
IMPORTANT: All parties involved in this transaction MUST be checked for their
credibility and background checks. For example, we MUST disclose who you
are, and all parties on the seller’s side as well as the buyer’s side, and what we do
for a living, our full names, date of birth, passport numbers, address and a brief
description of our character!! This will be verified by XXXXX XXXX Control, whom
investigates everything as they are tried & trusted to the "GATEWAY TO THE
XXXXXXXXXx "... Honest people will have no problem with this.
Proof Of Product (POP) First
Seller must always come forward with proof of products (POP) along with FCO signed
by seller or his mandate. The below documents are necessary for POP:
- Safe Keeping Receipt (SKR) issued by Bank to owner.
- Certificate of ownership showing that seller is the real owner of the gold
- Bullion Certificate showing the stamped number on Gold or relevant information
In short, we must have proof of product first before we enter our Bullion Officer into any
XXXXXXXx /BG will sign the initial contract with the seller. Once they perform due diligence
and confirm that the product and seller are real, XXXXXXX will immediately come forward.
At that point XXXXXx/ BG will transfer the contract over to the XXXXXX. XXXXXX /BG will then
step out of the way and the seller will be dealing directly with the XXXXXXXx. The XXXXXXXXX will
be the buyer and will guarantee payment of the contract. Within the Contract between
XXXXXXX/BG and the Seller, the XXXXXXXXXx is listed time and time again, as the buyer.
The seller in signing the contract will essentially be able to use XXXXXXXBG account with
the XXXXXXXXX to sell to the XXXXXXXXXX. The XXXXXXXXXXx will be paying the seller’s directly.
2.3. FCO Requirements
Items to support the FCO (which must have XXXXXXX procedures on it as per previous email)
and the minimum information to be included on the FCO:
- PURITY: As well as purity of the AU Bullion
- SIZE: KG size of bars
- LOCATION: Location of AU Bullion
ORIGIN: Origin of AU Bullion
- QUANTITY: the maximum amount they have available or are able to provide a
month or as a SPOT deal (food for thought- XXXXXXx like to enter into long term contracts
let see if we can perhaps include a nominal SPOT deal then split the remainder up over
the year – just a thought but it really is up to them how they want to do this, however
whichever way they choose please ask them to ensure to put (with rolls and extensions in
the quantity section) this leaves it open for XXXXXXXXX to roll the contract over and ensures we
do not have to go through getting documentation every time – if in fact it does roll over.
As stated XXXXXX will buy all day from the lucky seller – and like long term relationships –
remember this is at a very high level of the buying tree.
LETTER OF AUTHORISATION: From seller to XXXXXXXXXx Gold Contract
givingXXXXXXXXXX Bullion Officer authorization to contact Sellers Bullion Officer (blank
version sent to you already)
- LETTER OF MANDATE AUTHORISATION: From seller to his
mandate/facilitator – showing that seller has given permission/authorization for him to
sell his gold (if seller’s contact is a mandate – he must be able to show proof of
Please be aware that once all the above information is received – XXXXXXX will sign the FCO
and forwarded onto the Seller and then things move swiftly forward. All parties will be
always kept up to date on progress – at ALL TIMES.
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