CIF DELIVERY WITH LBMA 20% DISCOUNT
Modified date: May 31, 2025
4. COMMODITY DESCRIPTION
The commodity that the seller will sell to the buyer is specified as follow:
4.1. Commodity: Gold Dore Bars
4.2. Delivery Terms: 210 Kg per Month for 12 months
4.3. Origin: Ghana
4.4. Form: Gold Dore Bars
4.5. Quality: Delivered at 22+ Carats (as per Certificate of Analysis at origin)
4.6. Fineness: Delivered at 92%+ Purity per thousand of the fine Gold or better (as per Certificate of Analysis / Assay at origin)
4.7. Price: LBMA 15% discount to the buyer and 2.5% to
intermediaries on each side.
4.8. Payment: By SWIFT based upon the final Assay Report via MT-103 Wire Transfer.
4.9. Payment Guarantee: Confirmed Standby Letter of Credit (SBLC), via Swift MT-760, valid for One Year and One Day.
4.10. Validity of SBLC: One Year and One Day.
4.11. Packaging: Internationally Accepted Metal box
4.12. Delivery: By Air
4.13. Designated Airport: XXXXXXX XXXXXXXX XXXX
4.14. DOCUMENTS:
a) Commercial Invoice
b) Packing list
c) Certificate of origin
d) Certificate of Ownership
e) Export Certificate (Export Permit)
f) Airway Bill
g) Declaration that the goods are free and clear of encumbrance and of none criminal origin and source (Letter confirming that the Gold is from a non-conflict zone and thus the purpose of selling the gold is not to finance any rebellious organization in a conflict zone)
h) Certificate of Assay from PMMC
4.15. All above documents / certification to be signed and issued by the relevant issuing authorities.
5. PROCEDURE
5.1 Buyer and Seller sign the Sales and Purchase Agreement (SPA), where
delivery protocol is delineated. Each page must be initialed.
5.2 The Buyer's bank sends RWA to the Seller's bank via SWIFT MT799 about readiness
to issue SBLC by SWIFT MT 760.
5.3 The Seller's bank within 72 hours after receiving the RWA via SWIFT MT799 sends
SWIFT MT199 to the Buyer's bank about its readiness to accept SBLC via SWIFT MT
760
5.4 Within 72 hours after the receipt of SWIFT MT199 about readiness to accept SBLC
via SWIFT MT 760 from the Seller's bank, the Buyer's bank sends SBLC via SWIFT
MT 760 to the Seller's bank account for a period of 1 year and 1 day.
5.5 Within 72 hours after the authentication and confirmation of the BUYER's SBLC,
the Seller's Bank notifies the Buyer's Bank.
5.6 Within 21 (twenty-one) banking Days, Seller notifies the Buyer of the
first delivery with all export documents.
5.7 Upon Buyer’s confirmation of readiness, Seller flies together with the Gold
to Buyer’s choice of destination where Buyer shall wait for Seller at the
Airport to clear and handle all import taxes as well as further fees related to
Gold delivery to Buyer Refinery. All export costs of the Gold from Seller’s
Country to Buyer’s designated Country Airport, shall be borne by the
Seller; and all cost from Buyer’s designated Country Airport to Buyer
Refinery shall be handled by the Buyer.
5.8 Upon final assay at Buyer Refinery, in under 24 /48 (twenty-four / forty
eight) banking hours, Buyer transfers payment to Seller’s bank account.
5.9 Upon confirmation of payments, Seller releases ownership to Buyer and
the Refinery releases the Gold to Buyer.
contact@golddeliveryservices.com
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