GOLD BAR OFFER

  • Ref. ID : G&GM200CIF31124
  • Category : Expensive Metal
  • Commodity  : FORM Bars / Bullion
  • HSCODE : 71081200, 71081300
  • Origin : Africa
  • Destination Port : ASWAP
  • Destination Country : ASWAP
  • Delivery Term : CIF
  • Inspection : Refinery
  • Packing : Standard Gold Packing
  • Karats : 23 
  • Purity : 97% plus
  • Gold Age : + 5 Year
  • Trial Quantity : 500 KG
  • Main Quantity : 500 to 1,000 Kg per Months
  • Long Term : One Year
  • Proof of Found : MT799
  • Payment : MT760 / MT103
  • Price : -8 % LBMA
PROCEDURE

    1. The Buyer send ICPO with CP o the Seller
    2. The Seller mandate send this FCO to the Buyer.
    3. Buyer returns the FCO signed and sealed to Seller and along with Buyer’s POF for the quantity of tranche the gold the buyer wishes to purchase. The seller will reply with the respective POP.
    4. Upon receipt Seller immediately issues Sales and Purchase Agreement “SPA + NCNDA + IMFPA” for Buyer to review, accept, initialed and return to Seller.
    5. Both Parties exchange the executed the SPA/NCNDA/IMFPA and negotiated SPA filling in their respective coordinates, including but not limited to, banking information, international color passport copy, Company Trade License or Company Certificate of Incorporation.
    6. SPA is lodged into both Buyer and Seller Banks.
    7. uyer’s Bank issues SWIFT MT 103-202 PAYMENT TRANSFER as Payment Guarantee to Seller’s nominated Bank for the trial delivery and buyer sends the following documents for authentication purposes;
      1. WHITE SLIP COPY
      2. BLACK SLIP COPY,
      3. REMITTANCE ADVICE,
      4. DEBIT NOTE,
      5. MT940,
      6. ECB RELEASE CODE on the same day.
    8. Upon receipt confirmation from buyer with evidence of Swift correspondence document, seller will issue a 2% PB to buyer against nonperformance of the contract and seller draws 2% from buyer’s account should buyer fails to perform the contract.
    9. Upon receipt and authentication of the Buyer’s supplied documents;
      1. WHITE SLIP COPY
      2. BLACK SLIP COPY
      3. REMITTANCE ADVICE,
      4. DEBIT NOTE,
      5. And MT940,
        Note : 
        on the same day, the Seller’s Gold Bars Custody Bank shall issue to the Buyer a Depository Confirmation Letter (DCL)along with Authority to View – “ATV” AND evidence of Proof of Product “POP” via SWIFT MT600 to Buyer’s Bank and copy made available by email to Signatory Buyer only.
    10. Within three (3) banking days the Buyer or his Appointed Agent will be invited by ATV to the Vault/Gold Bullion storage facility of the Custodian Bank, for physical inspection.After, Post Inspection and acceptable Assay Report, Buyer instructs his bank to RELEASE payment for the Gold Bullion into the Sellers Nominated Bank Account, via SWIFT MT103 while the PAYMENT TRANSFER instrument revolves until the entire quantity is exhausted, with tranches as per refinery schedule, to be determined.
    11. Parties execute the change of Title of ownership between Seller and Buyer, upon each settlement.
    12. Seller pays the Seller Side Nominated Beneficiaries in the IMFPA or to the Nominated Paymaster of the Beneficiaries. Buyer pays the Buyers Side Nominated Paymaster of the Buyer Beneficiaries.
    13. Transaction concluded.

swift verbiage

SWIFT.COM MT-103/ GPI SEMI AUTOMATIC or MT103/202
Below is the Swift Mt 103 – 202 payment guarantee see VERBIAGE hereunder;
PRIME BANK APPROVED VERBIAGE FOR SWIFT MT 103/202 PAYMENT GUARANTEE – NON CASH MOVEMENT.

FROM:
BANK NAME:
BANK ADDRESS:
SWIFT CODE:
ACCOUNT NAME:
ACCOUNT NUMBER BANK OFFICER:
BANK OFFICER TELEPHONE:  
TO:
BANK NAME:
BANK ADDRESS:
SWIFT CODE:
ACCOUNT NAME:
ACCOUNT NUMBER BANK OFFICER:
BANK OFFICER TELEPHONE: 

FOR VALUE RECEIVED,

WE, XXXXX WITH ADDRESS AT XXXXX WITH FULL BANK RESPONSIBILITY HEREBY IRREVOCABLE AND UNCONDITIONALLY, WITHOUT PROTEST AND NOTIFICATION, PROMISE TO PAY AGAINST THIS BANK GUARANTEE TO THE ORDER OF XXXXXXXXX, THE BEARER OR HOLDER THEREOF, AT MATURITY THE SUM OF $00,000.000.000.00 (NUMBER BY WORDS  US DOLLAR) IN THE LAWFUL CURRENCY OF UNITED STATES OF AMERICA UPON SURRENDER AND PRESENTATION OF THIS BANK GUARANTEE AT OUR OFFICE AT  SUCH PAYMENT SHALL BE MADE WITHOUT SET-OFF AND FREE, CLEAR OF ANY DEDUCTION OR CHARGE, FEE OR WITHHOLDING OF ANY NATURE PRESENTLY OR IN THE FUTURE IMPOSED, LEVIED, COLLECTED, WITTHELD OR ASSESSED BY THE GOVERNMENT OR ANY POLITICAL SUBDIVISION OR AUTHORITY THEREOF OR THEREIN.  THE MT103/202 FUNDS ARE GOOD, CLEAN, CLEARED AND FROM NON-CRIMINAL ORIGIN , AND IS FREELY TRANSFERABLE, ASSIGNABLE AND DIVISIBLE WITHOUT PRESENTATION OF IT TO US, AND WITHOUT THE PAYMENT OF ANY TRANSFER FEE OR CHARGE,THIS MT103/202 IS SUBJECT TO THE UNIFORM RULES FOR DEMAND GUARANTEE AS SET FORTH BY THE INTERNATIONAL CHAMBER OF COMMERCE, PARIS, FRANCE, ICC PUBLICATION NO.758, 2010 REVISION   THIS MT103/202 SHALL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE LAWS OF (ISSUING COUNTRY)  THIS IS AN OPERATIVE INSTRUMENT AND NO FURTHER CONFIRMATION EITHER BY MAIL OR PHONE /FAX WILL FOLLOW.ALL CHARGES INCURED ARE FOR THE ACCOUNT OF THE APPLICANT.  THIS PAYMENT GUARANTEES IS VALID FOR ONE YEAR AND ONE DAY (1YEAR AND 1DAY).

AUTHORIZED OFFICER xxxxx                 
CHIEF OPERATING OFFICER  

AUTHORIZED OFFICER II                        
CHIEF RISK OFFICER

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