GOLD AND DIAMONDS

SEE PROCEDURES FOR SALE OF 

GOLD AND DIAMONDS

PROCEDURE:

1) Payment Collateral; We will deliver the gold through our reliable

 shipping company directly to buyer's destination for payment to us by

 wire transfer after buyer has received the gold to confirm the purity

 by buyer's refinery in buyer's appointed destination.

 Before the delivery and as the buyer is not paying us for the

 gold until after the assay report by the buyer's refinery in buyer's

 appointed destination, buyer will be required to issue on our behalf

 by swift an operative SBLC,POF or BG via MT760 to stand as the

 payment collateral that buyer will pay us after the receipt of the

 gold at his destination and purity confirmation by buyer's refinery.

 Within 24 hours of our bank's receipt and confirmation of the SBLC,

 MT760 POF or BG via MT760 swift, the POP/SKR will be released to buyer   
and his bank to verify and confirm the GOLD before delivery

 to buyer's destination for assay by buyer's refinery for payment to

 us by wire transfer and the SBLC, POF or BG canceled since it is just

 a payment guarantee.

 

 2) Payment of part Shipping Cost; If buyer is not ready to issue us

 the SBLC, POF or BG, buyer will be required to send into the bank

 account of our shipping company 50% part of the shipping cost. 

Once we

 receive the payment slip for the 50%, all documents/POP/SKR will be

 given to the buyer and his bank to verify and confirm the gold with

 the bank before delivery to buyer's destination for payment to us by

 wire transfer less the 50% part shipping cost.

 

 3) Change of Ownership: In case the buyer does not want to lift the

 gold from the bank, seller will change the name in the POP/SKR to

 the name of the buyer. 

Buyer will be required to pay to bank's

 attorney account the gold the Bank Custodian Charge (BCC)

 for holding the gold safe. 

Once the BCC is paid, the POP will be

 changed in the name of the buyer and buyer and seller will have TTM at

 the bank for the official hand over and payment to the seller at the

 bank by wire transfer less the BCC.

 

 4) Issuance of POP in advance; If the buyer needs to have the POP/SKR

 from seller to verify and confirm the gold , buyer will be

 required to make an Indemnity Refundable

 Deposit(IRD) of US$150,000.00 against misuse of POP/SKR . You know

 that most buyers once given the POP/SKR

 will use the POP/SKR to shop around and to obtain loan from bank and

 thereby  misusing the POP/SKR. If this happens the buyer looses the

 USD150, 000.00 IRD. 

If the buyer did not misuse the POP/SKR, the

 verification and confirmation of the gold with the bank.