Swiss procedures of gold transaction

Swiss procedures of gold transaction

Swiss procedures, which means that FIRST there is proof that the gold literally exists and that it is in fact for sale by the Owner holding title (no third party contracts or banks). A warehouse receipt, a bank deposit, and refinery documents on one Au bar is sufficient to begin. In addition, we expect that there will be Good London Delivery ("GLD") legal status on the metal, which by international standards means that there are no liens and encumbrances on the gold, that it is in 12.5 KG standard (modern) "bankable" bullion bars, hallmarked by an approved LME assayer and that the metal is unconditionally guaranteed by the Sellers bullion bank.The gold must be able to be transferred to a European Union Au bullion bank (if it does not already reside there).

Important Note: NO up-front payments or Bank Guarantee or Letter of Credit or POF.
The procedure that the Buyer prefers and which will assure the fastest and smoothest transaction is described below:

"PROCEDURES"

1 The Seller issues: Soft offer with complete procedures.
2 Upon review and acceptance of the Soft offer, Buyer request Seller to issue FCO signed on the Sellers or Mandates legal letterhead along with Mandate papers (if a Mandate is used)

3 Upon accept and verification of the Sellers information, the Buyer/Buyer's Mandate signs FCO and submits a letter of intent signed on the Buyers or Mandates legal letterhead along with Mandate papers (if a Mandate is used) and a contract.
4. The Seller/Seller's Mandate responds with the signed and sealed contract with full banking coordinates, and an invitation for the Buyer's bullion officer to contact the Seller's bullion officer.
5. The Buyer/Buyer's Mandate signs the contract, and accepts the invitation of the Seller's bullion officer. The Buyer/Buyer's Mandate sends a hard copy of the contract/agreement signed by both Buyer and Seller with full banking coordinates.
6. The Buyer's bullion officer initiates the contact with the Seller's bullion officer by KTT.
7. The Seller's bullion officer will be instructed by the Seller to verify the Au metal, the quantity available, and to disclose any/all liens and encumbrances attached to the metal.
8. Upon receipt of the proof of existence of the Au metal and the certificate of authority to sell, the Buyer will instruct his bullion officer to confirm the availability of funds to be used as payment when the gold is delivered.
9. The Buyer and the Seller agree on a window time for exchange. The payment to the Seller will be disbursed within 24 hours against the transfer of ownership of the metal.
10 Commissions/fees will be paid upon closing of each tranche to the parties stipulated in the contract, in the amounts shown.
11 All subsequent tranches will close tabletop as described above.

Gold Transactions Guidance (금 상거래 안내)

GOLD TRANSACTION PROCEDURES of Seller’s (Gold Owner)


1. Seller’s 매도 의향서 (FCO) 및 Buyer’s 매입 의향서 (LOI) 교환.

2. NCNDA & IMFPA (Document Format of ICC400/500/600) 작성 및 가계약서 (Draft of SPA) 교환.

3. Seller’s, Letter of invitation to Buyer for TTM or Both Parties or Conference Call (필요 시).

4. TTM (반드시 금이 보관되어 있는 은행 (Bullion Deposit Bank) 안에서 & 금 보관은행 매니저 (Seller’s Bullion Manager) 입회 하에 진행.

a) 본 계약서 (Contract Agreement Document) 체결 (금 보관 은행 매니저 (Seller’s Bullion Manager가 주관).
b) 시 금 (ASSAY) 요구 시, 반드시 금 보관 은행 내에서 실시 (외부로 이동 불가).
c) 계약금 지불 10-20 % (단 시 금 (ASSAY) 요구 시에만 적용).
d) 대금지불: SELLER가 지정하는 은행계좌 (Seller’s Bank Coordination)로 송금, COMMISSION 지불 (금 보관 은행 매니저 가 주관 및 보증).
e) OWNER SHIP TRANSFER TO BUYER (금 보관 은행 매니저가 주관 및 보증).

5. End.

근하신년

謹賀新年!

경인년/2010년 새해를 맞이하여, BULLION GOLD 블로그에 방문해주신 여러분들,

새해에는 항상 건강하시고, 가내에 다복하시며, 올 한해 하시고자 하시는일,

모두 이루시기를, 두손모아 기원합니다!!!

Bullion Gold 운영자 배상

Gold Bullion Executive Summary

Gold Bullion Executive Summary.

바이어 은행: 월드뱅크
컨소시엄: UN, IMF, 유럽연맹
구매조건: 바이어가 요구한 양식에 판매 수량에 관계없이 시리얼 넘버 2개 표기하여,
바이어 은행에 제출 바이어 은행이 검증하여 매입하는 프로그래밍
구매수량: 최대 100,000 톤
단 가: 셀러가 제시결제방법: 셀러가 원하는 데로

Happy New Year ! (새해 복 많이받으세요!)

BULLION TRANSACTION PROCEDURES:

BULLION TRANSACTION PROCEDURES:
Bullion Bank in Hong-Kong

· All parties involved sign the NCND Agreement.

· The Seller shall sign the Private Sales and Purchase Agreement for Bullion Metal – AU (SPA) along with IMFPA to confirm the acceptance of transaction terms & conditions. Upon receipt of the SPA signed by the Seller, the Buyer will sign the SPA together with a Ready, Willing and Able letter (RWA) and return them to the Seller. Seller will then make plans to fly to Hong Kong for the TTM. Seller will also send the Buyer an invitation letter for the TTM at HSBC Hong Kong.

· At the TTM in Hong Kong, both parties shall complete the addendum to the SPA giving their full banking coordinates and fix with their respective bank officers a window period for the simultaneous bank-to-bank verification purposes. Seller and Buyer are ready from, January 2010.


· At the table top meeting, at the appointed window time, there will be a simultaneous exchange of Proof of Product (the Seller’s bank shall confirm, with full legal responsibility, to Buyer’s bank the Proof of Product (SKR/POP) for the initial lift of Seven Thousand (7,000) Metric Tons, and that payment shall be Bank to Bank) and simultaneously the Buyer’s bank shall confirm, with full legal responsibility, to the Seller’s bank the Proof of Funds (POF), confirming that the funds are available for the Bullion Metal (AU) (Gold Bullion) transaction as agreed. Seller desires to do Transaction Procedures in one day if possible, as early January or as soon as possible thereafter.

· Within one (1) banking day after positive verification of the POF and POP, both Parties shall meet at the Table Top Meeting at Seller and Buyer’s bank HSBC in HONG KONG HEAD OFFICE and sign and exchange the six (6) sets of Hard copies of the SPA along with the originals of POF and POP. The original documents, including the IMFPA, shall be lodged in both parties’ banks.


· At this Table Top Meeting the Seller shall provide the original of the Safe Keeping Receipt (SKR) in the Seller’s name confirming availability of agreed lift’s quantity, and invite the Buyer to visit the Bonded Warehouse to verify the Safekeeping Receipt, together with all accompanying documents and inspection of the physical bullion


On the same banking day, the Seller and the Buyer shall meet inside the Buyer’s Bank in Hong Kong and conclude the transaction on a LEDGER-TO-LEDGER basis.

· After positive verification of the SKR, the Seller shall deposit the transferred SKR in the Buyer’s name along with all original documents related to agreed transaction of Bullion Metal (AU) (Gold Bullion) into the Buyer’s Bank account in the Buyer’s Bank in HONG KONG.

· The Seller shall pay the Consultants’ Fees simultaneously with payment to the Seller’s Mandate & Buyer’s Mandate for each transaction.