herewith known as the “Buyer: would hereby confirm with full legal title, corporate authority, rights and interest thatwe are ready, willing and able to buy 2,000M T of GOLD AURUM UTALIUM(AU) fr om you herewith known as the “Seller”.
Whereas, the Seller should confirm with full legal and personal responsibility and penalty of perjury that these AURUMULTALIUM(AU) commodities is clean, clear, free from any liens, encumbrance, with l egal origin and can be buy/sell freely everywhere around the world.
Whereas, the Seller is willing and cooperate exclusively to comply with the following spec ifications, terms and conditions, procedures for this buying transaction and further provide the required documents, information and/or any data, pertinent records related hereto for the purpose of executing a due diligence, authentication and verification prior to the finalization on contract and/or agreement.
1.0 SPECIFICATION:
Name of Commodity: AU Metal Gold Bullion (AURUM UTALIUM) Quantity: 200M T with Rolls and Extensions up to2,00 0MT Gold AU Metals Form/Weight: 12.5kg bar in standard Good London De livery (GLD) presentation Fineness/Purity: 999.5/1000 or better
Hallmark: Internationally Acce pted Hallmark
2.0 DOCUMENTS:
1.] Certificate of Legal ownership
2.] Certificate of Deposit / Bullion Certificate
3.] Certificate of Origin
4.] Certificate of Hallmark
5.] Certificate of Safe-keeping Receipt
6.] Certificate of Insurance
7.] Certificate of Export License/Permit
8.] Weight list and Assay Report
9.] Custom Clearance
10.] Commercial Invoice
11.] Export Permit
3.0 PURCHASE PRICE:
Price: SECOND fixing of L.M.E.R. on the day of implementation
Discount:Total discount __%. Net to Buyer __%.
FOB HONG KONG香港
4.0 COMMISSION SCHEME:
__.0% total commission
__% for Buyer’s Mandate and all Buyer’s Intermediaries Paid from Buyer’s account .
___% for Seller’s Mandate and all Seller’s Intermediaries Paid from Buyer’s account.
5.0 PAYMENT SCHEME:
Scheme: Bank to Bank Larger Transfer via SWIFT MT103/23( conditional payment) wiretransfer to Seller’s nominated bank account for 1st.TRANCHE of 200MT GOLD (AU) METALS with rolls and extensions. Up to 2,000MT
Currencies: US$ US Dollar or € Euro Dollar
The procedures listed below are what was issued by the U.S. Federal Reserve Bank (FED) and the World Gold Council on June 6th, 2007. It is required by law and now to be followed on all Gold (Au) transactions
U.S. FEDERAL RESERVE BANK AND WORLD GOLD COUNCIL INTERNATIONAL PROCEDURE:
1. The Seller or his Mandate issues a Full Corporate Offer (FCO). All AU metal offers must show the seller clearly (Holder of Au name preferred).
2. Only the Seller or his legal Mandate may issue an Au Offer and if it is the Mandate issuing it, it must be accompanied by a letter evidencing the receipt of Mandate authorization from the Seller.
3. All offers received from non-authorized intermediaries will be automatically rejected.
4. The International Precious Metals Legislation does not allow buyers to first send a letter of purchase intent (LOI), because it is considered soliciting and is strictly forbidden.
5. Seller or Seller's Mandate must move first with an offer, which should include metal license and banking details (letter of invitation from seller's bank preferred).
6. The Buyer or Buyer's Mandate submits a Letter of Intent RWA (Ready, Willing and Able), with full Banking coordinates.
7. The Seller or Seller's Mandate and Buyer or Buyer's Mandate exchange signed and sealed contract with full Banking coordinates.
8. The Seller or Seller's Mandate extends an invitation for the Buyer's Bullion Officer to contact the Seller's Bullion Officer.
9. The Buyer or Buyer's Mandate accepts the invitation of the Seller's Bullion Officer.
10. The Buyer's Bullion Officer initiates the contact with the Seller's Bullion Officer by key tested telex (KTT).
11. The Seller's Bullion Officer will be instructed by the Seller to verify the Au metal, the quantity available and disclose any/all liens and encumbrances attached to the metal.
12. Upon receipt of the proof of existence of the Au Metal (POP), and the certificate of authority to sell, the Buyer will instruct his Bullion Officer to confirm availability of funds (POF), to be used as payment when the gold is delivered.
13. The Buyer and the Seller agree on a Window Time for exchange. The payment to the Seller will be disbursed within 24 hours against the transfer of ownership of the metal.
14. Commissions will be paid immediately and without delay to each appointed paymaster.
15. The paymaster will likewise pay the intermediaries their earned commission.
Under the new guidelines recently set forth by the Federal Reserve for Gold Au metal, it is required by the Bank Officers to do standard FED compliance on the metal and the Seller/beneficial owners of the metal on a bank to bank basis before any contracts can be signed.
Anything outside of a strict Swiss procedure of POP with Seller's client info sheet and passport, is now illegal to even attempt to transact. The Seller, if they are legitimate, they must be ready, willing and able to submit this information directly by SWIFT to the Buyer's Bank Officer for standard banking compliance under the new regulations.
Upon completion of this compliance the Buyer's Bank Officer will then respond with POF, including the Buyer's client info sheet and passport information for the Seller's Bank Officer to do their compliance as well.
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