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Hello I have a gold buyer who is working with an blocked funds procedure CIF Accra, 50 kgs trial. 500kgs per month. Here is the procedure.
Supplier Qualification Checking.
Procedure:
1. The seller opens an account on his name/company name in one of our banks in Europe(we can do it for him, he doesn't need to move).
2. We move the amount of the delivery in his account and block the founds. If the seller needs POF, BCL... he just have to ask to the bank because the money is already in his account and it is
his bank.
3. The contract comes from the bank so the money is double secured because the bank is responsible of the seller's founds.
4. The seller deliver gold to our refinery.
5. The buyer pays the seller by transfer money to the account of the seller's choice.
6. The blocked found stays on place for the next delivery. If the quantity grows, the blocked found grows.
7. Before any start the seller pass a compliance to be accepted by the bank as new client. For that we need to know and those documents:
• Who is the seller of the gold?
• Who is the owner of the gold? Sometimes the seller is not the owner
• Who is the final seller on a contract?
• Copy of your company permits, license.
• Copy of your gold trading permits, license.
• Copy of your gold exporting permits, license.
• Copies of previous sales, exporting documents, even partly sanitized
• Some sort of evidence that you can pool, source, mine, trade and export gold.
Price: Gross -10 / Net - 7
For the Escrow there is no payment upfront
They have to show previous sales, this is the condition of the buyer who is a bank
The bank will open an account for them and will block the funds in this account until they deliver the gold to Accra refinery
Let me know if this can work if interested contact me by WhatsApp +21692548881 my name is Sarra