TRANSACTION PROCEDURES
Buyer issues CIS to Seller. Seller sends LOI offering to buyer.
Buyer sends completed LOI to Seller signed and sealed on buyer’s corporate letterhead paper.
Seller will send FCO and SPA to Buyer within 24 hours of receipt of LOI.
Buyer will sign and seal and revert back to seller SPA with SBLC within 3 business days of receipt.
The Buyer and the Seller shall lodge and nominate the bank officers (within Two (2) banking days of the date shown on the front page of the SPA), for the completion of this transaction except for the Procedures listed below and fully accept the following “Bank-to-Bank” or “Ledger-to-Ledger” transaction. For the sake of clarity, the word “immediately” in this SPA means the “same day”.
Both parties shall adhere to all terms and conditions stated in the SPA and shall not at any time make a contract without the approval from the other party. Any infringement shall render this contract automatically terminated.
The Procedures herein shall be repeated until the contractual amount is reached. Rolls and Extensions are determined by the Seller and the Buyer accounts.
The Physical Inspection shall verify the Gold Bars by the Buyer of the assaying, weighing and weigh documentation and other product documentation permission will be given by the Seller to the Buyer shall conduct his own independent assay, costs and charges of gold bars along with the Seller’s security team present.
As agreed with the buyer, the Seller’s representative must accompany the product to buyer’s destination to witness final process unless the SPA states PICK UP.
All taxes, tariffs, duties, and fees in the Buyers home country is the buyer’s responsibility.