PROCEDURE AS ACCEPTED BY BUYER
(VERIFIABLE PROOF OF FUNDS ATTACHED TO THIS DOCUMENT)
- Seller sends signed contract. This legal document cannot be altered by any party without mutual consent.
- Buyer signs contract and escrow agreement with the law company and locates the funds (1 month delivery value) on the trust account to secure the contract.
- The Seller will appoint an internationally acceptable world class Audit Firm in South Africa that will correspond with the Auditors of the Purchaser.
- After receipt of the funds in the designated trust account of the Seller, the Mine will commence sending the monthly production to the Refinery for Melting and Hallmarking,
- After Hallmarking the Refinery exports Gold to the Buyer, and copy the Auditors with the Commercial Invoice. The ownership of the gold will vest in the sellers name till paid , and it will be insured 100% by the Seller while exported and it will be insured 100% by the Seller.,
- Each month when the Refinery in Dubai shows the waybill to the Purchaser, on that day the commercial invoice will be issued and the price of LBMA -4/6 % on the second fixing of the day will be recorded on the commercial invoice.
- The buyer will pay for every delivery by releasing the funds after verification or assay report from re-smelting and ownership will change when the seller is paid for the product.
- Process is repeated exactly and smoothly
- This procedure is followed without variance. Failure at any step constitutes a breach of contract
- There is no other order for execution
- The Supplier will initiate the export of the Product to the Buyer in accordance with
The Patriot Act and other gold regulations.
Procedure outline:
- Buyer signs contract with seller
- Buyer sends wire transfer of funds to the Seller’s Lawyer’s Escrow account immediately upon contract signature
- The Seller starts deliveries = 12 deliveries over one year – one delivery per month . first delivery during the first month
- The ESCROW LAWYER releases payment after verification of goods by the BUYER
- for the next month the same procedure is completed
