BLANCO-CONTRACT- Beispiel 20.06.07 by HC120918135622

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									                                    CONTRACT AU

This Agreement is made and entered into this ..... January, 2007

by and between


SELLER             :


Represented by     :



hereinafter known as “the seller”



and


BUYER              :



Represented by     :


hereinafter known as „the buyer“


whereas the seller agrees and warrants to supply AU metal in ......... and to sell its fine gold
content upon assay


and whereas the buyer agrees and warrants to purchase the refined gold under the terms and
conditions set out in this contract


now therefore, for and in consideration of the mutual agreements and conditions set forth, the
parties hereby agree as follows:




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      SELLER’S INITIAL:                                        BUYER’S INITIAL:
1.    REPRESENTATIONS AND WARRANTIES

1.1   The seller represents and warrants that he has lawful ownership and control over clean and
      clear assets in the form of alluvial “........ gold” assaying no less than 80% Au content in the
      form of .......... The seller warrants that said gold is free of liens and encumbrances, ready
      for sale and that these conditions shall pertain throughout the procurement and refining
      process until the sale has been completed.

1.2   The buyer represents and warrants that he has the financial capability and legal standing
      to make this purchase.


2.    COMMODITY

2.1   Material
      AU metal in alluvial ......... of ............... origin assaying no less than 80% Au content.

2,2   Description
      Material to be essentially clean and securely packed for international transport, each parcel
      to state gross / net weights. Material containing radioactive or deleterious elements
      (Beryllium, Arsenic) will be rejected.

2.3   Quantity
      Up to …. kg but no consignment to be less than ....kg it being understood that the first
      delivery shall comprise …. kg.


3.    DELIVERY

3.1   CIP London Heathrow consigned to Contex GmbH/……, Cinderford (near Bristol),
      attention Eddie Bowen.

3.2   The seller is to notify the buyer by fax / email of flight and carrier no less than three
      London working days prior to shipment. A copy of the air waybill evidencing material
      dispatched to buyer, together with a copy of the export licence and certificate of ownership
      to be promptly faxed to the buyer as well as a fax copy of courier air waybill covering
      original consignment air waybill.

3.3   The seller shall be responsible for all security and full insurance cover until delivery to
      ???????. representative at London Heathrow whereupon the latter shall provide the seller
      with a safekeeping receipt for the goods. The buyer to accept all charges for UK security,
      customs clearances, VAT deposits, transport and insurance cover from arrival at London
      Heathrow Airport - or as otherwise agreed - plus all smelting/refining/assay costs.




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      SELLER’S INITIAL:                                              BUYER’S INITIAL:
4.    REFINING

      The material will be analysed and refined at ??????? Ltd, Cinderford, within maximum
      seven working days of arrival Heathrow. .??????? Ltd. will undertake a pre-refining test,
      the result of which shall determine the refining procedure. In the event that the material
      estimates in excess of 80% Au content without deleterious elements, refining will proceed
      automatically. The buyer to meet all refining and processing costs together with
      transportation costs in the UK.

      In the event that the material estimates at less than 80% Au content, the buyer will reserve
      the right to deduct all refining charges from the final purchase price.

      In the event that the material contains unacceptable levels of deleterious elements or is
      radioactive, it will be rejected.

      The buyer will provide the seller with a copy of the pre-refining analysis.

      Upon completion of refining, ??????? Ltd, will provide directly to both buyer and seller a
      signed original out-turn report detailing final assay and weights, which shall be binding on
      both parties and form the basis of payment.


5.    PRICE :
             ...........................................................................


6.    PAYMENT PROCEDURE:

6.1   Not later than 5 (five) banking days after signing of the contract, the seller’s bank shall issue a
      Performance Bond (format as per Annexure A) for 2% of the expected value of the DLC.

6.2   Within 5 (five) banking days of receipt of the PB, the buyer’s bank opens to the seller’s bank an
      irrevocable documentary Letter of Credit (format as per Annexure B), the value of which shall be
      based on 91% of the LME price calculated on the basis of 80% of purity of Gold content in
      the consignment under contract. This LC value shall be subject to review with every fresh
      consignment.

6.3   Payment shall be at sight upon presentation of the following documents at the counters of the
      buyer’s bank

      (a) Commercial invoice (1 original, 1 copy) detailing net refined weight as evidenced by the
          ??????? out-turn report.
      (b) An original signed copy of the ??????? out-turn report
      (c) Certificate of origin detailing gross and net weights of material.
      (d) Full set 3/3 Original Air Waybills.
      (e) Signed original copy of this contract
      (f) Export permit (if required)
      (g) Safekeeping receipt from ???????



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      SELLER’S INITIAL:                                                                    BUYER’S INITIAL:
7.    TITLE
      The Goods shall remain the property of the seller until full payment has been made following the
      final assay by buyer’s nominated refinery, at which point title shall pass to the buyer.


8.    ASSIGNMENT:
      This agreement is assignable and transferable by either Party with written permission of the
      other party.


9.    APPLICABLE LAW AND JURISDICTION
      The seat of jurisdiction for any legal dispute under this contract shall be London and the
      laws of England and Wales shall apply.


10.   RENEWAL
      Upon satisfactory delivery and performance of this contract the seller and buyer shall have
      the option by mutual agreement to renew the contract on similar terms for a further twelve
      months with rolls and extensions thereafter. The monthly volume shall be between 500kg
      and 1000kg at seller’s option according to availability.


11.   BANK COORDINATES



SELLER’S BANKING INFORMATION
Bank
Address
Swift Code
Account Name
Account Number
Tel
Fax
Routing via
SWIFT


BUYER’S BANKING INFORMATION
Bank
Address
Swift Code
IBAN – No.
Account Name
Account Number




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      SELLER’S INITIAL:                                             BUYER’S INITIAL:
Signed on behalf of seller
Name of Duly authorized Signature   :
Passport (Nationality) :
Physical Address                    :

Telephone Number                    :
Fax Number                          :
E-Mail Address                      :

Date                                :




_______________________
Chief Executive.




Signed on behalf of buyer           :
Name of Duly authorized Signature   :
Passport (Nationality) :
Physical Address                    :

Telephone Number                    :
Fax Number                          :
E-Mail Address                      :

Date                                :
                                    :



_____________________
Executive Director




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       SELLER’S INITIAL:                    BUYER’S INITIAL:

								
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