Product: Gold in standard 12.5 KGS Bars (Good London Delivery)
Fineness/Purity: 999.5/1000 or better
Hallmark: Johnson & Matthey
Quantity: Xxxxxxxxx (000) METRIC TONNES With R.&E.
Duration: SPOT or MONTHLY
Delivery Mode: SELLER’S BANK TO BUYER’S BANK (FOB)
Price: Second Fixing, London Bullion Market on the day of closing
Discount: Gross: 12 % ( Percent) Net to Buyer: 9% ( Percent)
Fees: 3% Paid by the Buyer as follows and confirmed by a IMFPA:
1,5 % for Seller’s Mandate and representative(s), (closed)
1,5 % for Buyer’s Mandate and representative(s), (open)
Payment: BANK-TO-BANK SWIFT WIRE TRANSFER.
Metal Location: BANK IN LONDON.
(A). EXECUTION PROCEDURE
After the Buyer complete and sign our PROTOCOL/FCO GLD AU METAL:
Code: MM/xx/xx/xx/xx,
ANNEX-PASSPORT+CLIENTE-INFORMATION[BUYER] - and NCND
1. SELLER and BUYER sign contract and lodge them to their banks, respectively. Both
banks are top 25 world ranking ones.
2. After mutual agreement, Buyer and Seller sign and seal the Sales and Purchase
Contract with full banking coordinates.
3. Within three (3) Banking days of signing the Sales and Purchase Contract, Buyer’s Bank
shall provide an operative BG/ MT103-23, STANDBY LETTER OF CREDIT (SBLC) MT760
for the first tranche standing as payment collateral for the entire first tranche. Upon
Seller’s Bank receipt, confirmation and acceptance of Buyer’s MT103-23,BG/SBLC
MT760 as per Seller’s verbiage, Seller submits in one (1) banking day POP and SKR
via MT600 for the entire first tranche to Buyer’s bank to verify and confirm the gold.
Buyer may choose to perform TTM at Seller’s location (Europe) OR they can choose to
have gold shipped to Buyer’s designated location.
4. Seller shall instruct his Bullion Officer to set up an appointment with Buyer’s Bullion
Officer in the Bullion Depository to verify the AU metal, the quantity available and to
verify that gold is free from any liens and encumbrances or the pay for the shipping
cost to our company appointed shipper to ship 1MT to the buyers location for the TTM.
5. Upon satisfaction of both Bullion Officers that the Contract can be consummated, the
Buyer will instruct his Bullion Officer to confirm the availability of funds to be used as
payment and the Seller and Buyer will instruct their Bullion Officers to complete the
transaction.
6. Buyer will transfer the agreed amount of the Hallmarked Bar tranche and subsequent
tranches to the Seller’s Bank via SWIFT/WIRE Transfer within 24 hours against the
Transfer of Ownership of the metal.
7. The Commissions will be paid immediately and without delay to each appointed
Paymaster or Beneficiary after each delivery and as per Terms and Conditions of the
