Commodity : Gold
Origin : Republic of Ghana
Form : Gold Bar
Product-History : Clean, Clear, No Liens and Non-Criminal Origin
Delivery : CIF
Purity : 92+ Fineness
Minimum Quantity : 50 kilograms
DOCUMENTS AND PROCEDURE
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Each shipment and delivery shall be identified with all assigned contract reference codes and numbers.
The Following documents shall be issued prior to shipping and arrival of gold:
Ø Commercial Invoice
Ø Packing List
Ø Assay Report
Ø Certificate of Origin
Ø Bank of Ghana export declaration
Ø Customs Declaration forms
Ø Airway Bill
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Price : Negotiable
Currency : USD
Currency : USD
Payment : Wire-Transfer
PROCEDURE:
Buyer shall send Bank Guarantee (BG), or Standby Letter of Credit (SBLC) via Swift MT 760 for a term of one year and one day (366 days) and the funds will remain unencumbered during this period. For the entire term of the contract in accordance with our Bank verbiage as a guarantee of Payment for 100% CIF.
* Shipments shall be 100% CIF.
* Seller shall pay all expenses to deliver the gold to buyer's refinery in Buyer's country.
ü The gold shall be processed and delivered in batch on a monthly basis.
We are in partnership with a registered gold trading; Government approved gold Refinery and Export Company in Ghana with two mining Concessions. The Refinery also have Export License to export Gold to any country in the world. They have about 32 buying centers (Small Mines) that they finance for them to mine and deliver Gold to the company at discounted price, because the company pre-finances their operations.
With 32 buying centers fully financed, a total of 350kg monthly is guarantee, However, if buyer can provide SBLC or BG for a minimum of 50 kilograms on a one (1) year contract, we can deliver to any destination of buyer’s choice.
With 32 buying centers fully financed, a total of 350kg monthly is guarantee, However, if buyer can provide SBLC or BG for a minimum of 50 kilograms on a one (1) year contract, we can deliver to any destination of buyer’s choice.
We can deliver about 3,600 kg annually on CIF basis. Payment will be based on minimum 92.00% and maximum 99.99% purity after final assay at buyer’s destination refinery.
Below are the PROCEDURES acceptable to us for the execution of the delivery:
...1...
Seller and Buyer execute
SPA and deposit with respective banks.
...2...
Within 2 working days,
Buyer Bank swift irrevocable, transferable, and confirmable Standby Letter of
Credit (SBLC) or BG to Seller’s Bank.
...3...
Upon receipt of SBLC/BG, Seller’s Financier Bank shall issue a 2% Performance Bond to activate the
SBLC/BG.
...4...
Within 7 days after
issuing the 2% Performance Bond,
Seller prepares the first monthly tranche for shipment to Buyer’s nominated
destination airport.
...5...
Before shipment, the
Gold is Assay at Government approved refinery in Ghana and the Assay report
with other shipping documents sent to Buyer and copies both seller and buyers
banks.
...6...
Gold arrive buyers
destination airport. Buyer shall be responsible for duties and Government taxes
at the destination airport and for clearance of Gold to buyer destination
Refinery.
...7...
Buyer’s refinery
conducts Final Assay and issues report to determine actual weight and purity of
Gold, which will serve as the bases for payment.
...8...
Based on the final
weight of the gold and the final purity of the assay, seller
will present a commercial invoice for full value of assayed gold.
The Above is our outdated CIF Procedures
We have stopped accepting banking instruments such as BG, SBLC, and DLC as a guarantee of payment; because our bank has stopped honouring international banking instruments. Therefore, we have no option than to stop accepting it as a form of guarantee of payment.
If the above PROCEDURE and PRICE are acceptable to you kindly revert so that we proceed to Draft SPA for your review, completion and signature.
