PROCEDURE:
1. Seller sends Full Corporate Offer (FCO) to Buyer.
Offer will give the following information:
• The quantity of Gold for sale
• The form: 12.5 Kilo Bars 5 months or less
• Fineness: 9666.5% or better
Name of acc handlers
• Discount: Usually 6% Gross, 4% Net as a minimum
• Fees: Divided equally between Seller's and Buyer's Reps
The availability of the following documents will also be listed in the FCO:
1. Safe Keeping Receipt
2. Original Certificate of Deposit
3. Certificate of Origin
4. Certificate of Legal Ownership
5. Seller's Certificate stating that we are free and clear of all liens and encumbrances and freely tradable and exportable and of non-criminal origin
6. Certified Weight List and Assay describing each Bar as follows:
i. Serial Number as stamped on each Bar ii. Raw Weight as stamped on each Bar
iii. Total weight as stamped on each Bar
iv. Receipt of paid custom duties and taxes v. Export Permit(s)
2. Buyer answers FCO with a Full Corporate Positive Answer RWA ,ready ,willing and Able to trade or LOI and sends Fee Protection
Agreement with an unsigned Purchased Contract to Seller.
3. Seller completes and signs contract and returns it to Buyer.
4. Buyer signs contract and returns it to Seller. All above done electronically on the same day, if permitted by time zones.
5. Seller sends a copy to buyer of the Safe Keeping Receipt and a Letter to his banker or warehouse manager giving him instructions to allow buyer to verify the existence of the gold and the pertinent information on said gold. The reason behind this request is that any person buying any gold wants to see it and verify it before paying for it. Having verified existence of the gold, buyer gives seller a Bank Issued Proof of Funds.
6. Seller instructs his Bullion Officer to set a window time with Buyer's Bullion Officer and meet .
Buyer transfers money to seller's account provided in contract after acertaining the purity of gold metals and quantity.
( this should be with in 2 hours after buyer receiving the goods.)
PROCEDURE:
1. Seller sends Full Corporate Offer (FCO) to Buyer.
Offer will give the following information:
• The quantity of Gold for sale
• The form: 12.5 Kilo Bars 5 months or less
• Fineness: 9666.5% or better
Name of acc handlers
• Discount: Usually 6% Gross, 4% Net as a minimum
• Fees: Divided equally between Seller's and Buyer's Reps
The availability of the following documents will also be listed in the FCO:
1. Safe Keeping Receipt
2. Original Certificate of Deposit
3. Certificate of Origin
4. Certificate of Legal Ownership
5. Seller's Certificate stating that we are free and clear of all liens and encumbrances and freely tradable and exportable and of non-criminal origin
6. Certified Weight List and Assay describing each Bar as follows:
i. Serial Number as stamped on each Bar ii. Raw Weight as stamped on each Bar
iii. Total weight as stamped on each Bar
iv. Receipt of paid custom duties and taxes v. Export Permit(s)
2. Buyer answers FCO with a Full Corporate Positive Answer RWA ,ready ,willing and Able to trade or LOI and sends Fee Protection
Agreement with an unsigned Purchased Contract to Seller.
3. Seller completes and signs contract and returns it to Buyer.
4. Buyer signs contract and returns it to Seller. All above done electronically on the same day, if permitted by time zones.
5. Seller sends a copy to buyer of the Safe Keeping Receipt and a Letter to his banker or warehouse manager giving him instructions to allow buyer to verify the existence of the gold and the pertinent information on said gold. The reason behind this request is that any person buying any gold wants to see it and verify it before paying for it. Having verified existence of the gold, buyer gives seller a Bank Issued Proof of Funds.
6. Seller instructs his Bullion Officer to set a window time with Buyer's Bullion Officer and meet .
Buyer transfers money to seller's account provided in contract after acertaining the purity of gold metals and quantity.
( this should be with in 2 hours after buyer receiving the goods.)
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