seller sends full corporate offer (fco) to buyer. …...• gold trade license the parties will then...
TRANSCRIPT
Seller sends Full Corporate Offer (FCO) to Buyer. Offer will give the following information:
• The quantity of Gold for sale in Kg
• The form: Dust, Nuggets, Dore bar, 5 years or less
• Fineness: 96.7%
• Fees: Divided equally between Seller's and Buyer's Reps
The Seller will also submit at the same time attached to the FCO the following documents to the Sellers Bank
Officer who will provide the Seller signed and sealed copy of the documents to the Buyer’s bank officer:
• Corporate Invoice incl. all costs
• Letter of authority of Seller Mandate
• Gold Trade license
The Buyer will provide the following to the Buyer's Bank Officer who will provide a Buyer signed and sealed copy
of the documents to the Seller’s bank officer:
• Full Corporate Offer
• Receipt of paid custom duties and taxes v. Export Permit (s)
• Proof of Funds by means on the SBLC (MT 776, MT 103)
• Passport
• Company articles of incorporation
• Letter of authority of the Buyer Mandate
• Gold Trade license
The Parties will then share, view, edit the Sales & Purchase Agreement and once this is completed, the Seller will
save the SPA in the PDF format and issue copy to the Buyer’s bank officer.
The TTM scheduled and the following documents are signed and sealed by the Bank Officers, Buyer, Seller and
assigned mandate:
• Corporate Invoice
• Letter of the assigned Seller Mandate
• Receipt of paid custom duties and taxes v. Export Permit (s)
• Proof of Funds by means on the SBLC (MT 776, MT 103)
• Passport
• Company articles of incorporation
• Letter of the assigned Buy Mandate
The date to conduct the Assay is scheduled and the security firm is assigned and a copy of the POF is shared.
The nuggets are inspected at the Bonded Warehouse which we call the "Interim Vault" as well as:
• Safe Keeping Receipt
• Original Certificate of Deposit - signed and sealed
• Certificate of Origin - signed and sealed
• Certificate of Legal Ownership - signed and sealed
The nuggets are refined to Dore Bar at the "Interim Refinery" and the Assay report is issued as the final
verifiable Proof of the Product.
Buyer's Bank releases the payment after the interim assay for the: Tax, Assay Fee, Custom Fee, Insurance,
Documents.
The Au is then exported to the Final Refinery based on the Buyer's choice, where the Dore Bare is smelted into
Bullion
The Seller's bank confirms the payment has been received at the final refinery and then transfers, the Au
inventory and all documents.
The Buyer will be refunded for the initial payments on tax, assay, customs and documentation
***The SPA is only issued if the Buyer agrees to these procedures issued in the FCO***
WARNING
The Buyer, Seller or mandate have no fiduciary authority to make direct contact with each others party, this is
soliciting and is considered by the ICC as a trade crime and this will be reported to the FBI, Interpol and ICC
agencies that deal with trade crimes.