Name    : 
E-Mail  : 

Subject  : Re: Re: Gold bullion

Comments:
: GOLD BULLION SWISS PROCEDURES BANK TO BANK 

: COMMODITY: Aurum Utalium (AU) Gold Bullion in Bar Form. 

: BAR SIZE: Twelve Kilo Five Hundred Grams in weight of metal Bullion (twelve point five kg bars)AU (GOLD)

: FINENESS: PURITY 999.5/1000 (GUARANTEED) 

: HALLMARKS: Various Hallmarks (by L.B.M.A. listed Smelters/ Refineries thus render the Gold as (GOLD)). Actualized to date by JOHNSON MATTHEY.

: TRIAL TRANCHE: 25 mt (TWENTY FIVE METRIC TONNES)

: TOTAL QUANTITY: 500 mt (FIVE HUNDRED METRIC TONNES) with rolls/extensions.

: PRICE REFERENCE: The Price is based upon the 2nd Fixing on London Bullion Market Association (L.B.M.A.) on the day of delivery. Should there be no quoted price, the next day or prior day price prevails.

: DISCOUNT: Gross 5 % -Net 4 % for Buyer

: COMMISSION: 
: 1% PAID BY THE BUYER:
: 0.50% FOR BUYER’S SIDE OPEN
: 0.50% FOR SELLERS SIDE CLOSED 

: DESTINATION: Free Trade Zone (F.T.Z.) Swiss or International location at Buyer’s option 

: DELIVERY CIF: Seller with full legal responsibility warrants for the lifting and delivery of the AU Metal (Gold) to pre-agreed Free Trade Zone (F.T.Z.).

: PAYMENT GUARANTEE: Bank Guarantee acceptable by Seller’s bank. 

: PAYMENT CONDITIONS: Full payment in Good, Clean, Clear & Non Criminal USD / EURO / to Seller’s designated bank account upon receipt and verification in latest 48hrs.

: THE TRANSACTION IS TO BE PERFORMED AS AN OFF THE MARKET, PRIVATE SPOT DEAL, IN THE MODE OF PHYSICAL TRANSFER OF OWNERSHIP AND TITLE VIA DELIVERY OF PHYSICAL AU METAL CIF TO THE APPOINTED AIRPORT FREE TRADE ZONE (F. T.Z.).
: OUTLINE OF PROCEDURES: 

: A) Seller issues Full Corporate Offer for Buyer duly signed.

: A1) Buyer signs FCO for acceptance without any changes, issues a Letter of Intent completed with full banking together with copy color 140 % size of his passport.

: B) Table Top Meeting (TTM) in Geneva between Buyer and Seller mandatory for the signatures of the contract will only take place if the Buyer can prove his financial capacity with a Bank Comfort Letter confirming that they are able to absorb the total quantity per Tranches of 25 mt (Twenty Five Metric Tonnes). In counterpart, the Seller will prove the existence of the AU Metal.

: B1) Buyer and Seller deposit their copy of signed Contract with their respective Bank. Buyers Bank officer (BBO) will establish window time with Seller’s Bank Officer (SBO). BBO will send to SBO via SWIFT or KTT Ð the request of existence of AU Product. SBO confirms existence, quality, quantity and guarantee of delivery of metal to BBO, via SWIFT or KTT.

: C) BBO shall immediately confirm to SBO via SWIFT or KTT - that Bank Guarantee will be issued and sent exclusively for this transaction (POF).

: D) After receipt, verification, authentication and acceptance of the Bank Guarantee, SBO shall confirm the metal to the BBO, Buyer/Seller shall confirm to each other the start of deliveries contractually scheduled. SBO issues in favor of the Buyer and sent to BBO within 2 (two) Banking days an irrevocable and operative 2 % (two percent) Performance Bond acceptable by BBO, covering the value of the first Tranche of 25 mt (twenty five metric tonnes).

: E) The 2% P.B. and Bank Guarantee issued bank acceptable by SBO constitute the respective commitments between the (Parties) and are accepted as Legal binding Terms by them as the exchange of the Proof of Product (POP) against the Proof of Funds (POF). 

: F) Seller, as per arrangements made with his air cargo carrier and the Buyer, transports and delivers the product (AU Metal) to the buyer for verification as the agreed Buyer’s destination, and which is, the FZT of a mutually acceptable airport. The location is selected by Buyer an approved by Seller, on D.D.U terms, as per Incoterms 2000.

: G) The Air Cargo Carrier, on arrival at the agreed destination, informs of the delivery of the product to the Buyer or his authorized representative(s) being present, as per the Airway bill, together with the originals of all other accompanying documents .

: H) In the FTZ or on board the cargo aircraft, the buyer as per his pre¬arrangements, with his international Assayer in the presence of seller’s L.M.B.A Assayer and LLoyd Insurance’s Representative shall carry our the necessary verification of the quantity and quality of the products and the accompanying contractual documentation, to full satisfaction using the standard scientific gold technologies thus confirming the seller’s L.M.B.A Assayer certificates and Gold. The result from such test verification, carried out at the cost of the buyer, shall be binding on both parties. The presence of seller’s Assayer and LLoyds Insurance Rep. is at sellers cost.

: I) Immediately after above results of verification and control to buyers satisfaction, he sign the Invoices for payment and takes delivery. In the L.M.B.A glossary for gold delivery means taking possession/ownership of the delivered commodity.

: J) Within two (2) banking days from delivery of the goods to the buyer, the closing bank officer in the “trusteeship account” executes the transfer of ownership in favor of the buyer by internally exchanging the controlled and accepted originals of the above accompanying documents and particularly the ownership certificate against the payment in good & cleared EURO AND OR UNITED STATE DOLLARS, Effected by MT 103 by the “Trusteeship account”, to Sellers nominated account.

: K) The subsequent Tranches are executed under the same herein above described procedure, with buyer’s bank instrument being adjusted accordingly to cover larger gold deliveries.

: L) The transaction is completed. The Blocked Proof of Funds (BPOF) or other acceptable Buyers bank instrument shall continue to be in force for subsequent transaction until the S&P contract expires.

: NOTE: THESE ARE THE SELLERS (NOT THE BUYERS) CONDITIONS, PROCEDURES AND TERMS AND ARE ABSOLUTELY NON-NEGOTIABLE UNDER ANY CIRCUMSTANCES. SO PLEASE DON'T ASK ME (AS AN INTERMEDIARY) TO MAKE CHANGES...