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					PROCEDURE
We presently have Gold dust (4.5MT) & Dory bars (2.5MT) in storage here in Ghana for sale with a security company specialized for storage of AU and other delicate goods amongst other services they carry out. CIF Price of gold dust is $19,000/kg & Dory bar is $20,400/kg and selling procedure is: 1. Seller sends FCO addressed only to Buyer. 2. Buyer signs and stamps the FCO to show acceptance and return to Seller or issues LOI/ICPO. 3. Seller then sends Buyer Safe Keeping Receipt (SKR) from security storage firm along with Attestation of Ownership sworn to at the High Court of Ghana in Accra as POP. 4. On Buyer confirming satisfaction with the documents sent, Seller sends draft contract for private sale and purchase of product for review and if satisfied, for Buyer to complete necessary areas and return for Seller to do same. 5. Seller returns the completed contract in PDF file along with invoice. Both parties lodge the contract with their respective transaction banks and then Buyer has its bank send a non-operative bank guarantee (BG) or stand-by letter of credit (SBLC) via swift MT-760 in favor of Seller's nominated fiduciary agent to their bank (OUT OF AFRICA) as payment protection to Seller. 6. Seller then through its fiduciary agent bank sends a 2% performance bond (PB) to activate Buyer's instrument. 7. Upon acceptance of Seller's PB and activation of Buyer's BG, SBLC, Seller commences delivery of product accompanied by a representative to Buyers chosen destination airport bearing all costs from origin to destination airport. 8. Buyer receives the Seller's representative with products at airport and takes responsibility for all clearance from his airport of delivery to nominated refinery for assay accompanied by Seller's representative. 9. Title of gold passes from Seller to Buyer at this point but ownership is still retained by Seller until actually paid for by Buyer. Assay is completed within maximum of 72 hours at Buyer's chosen refinery and final assay report is issued by the refinery to both parties. The report is accepted as final and then Buyer makes payment for total refined gold which should equate the said quantity delivered. Any shortage in quantity or reduction in quality will be deducted prorata. 10. Upon receipt of payment by Seller, ownership is transferred to Buyer and BG or SBLC becomes void and returned to issuer. Should you be interested, note that we presently have Johnson Matthey hallmarked bars in storage through our fiduciary in the UAE & Europe through another fiduciary. On request, we shall furnish you with procedure on that. We are selling with an 8/5% gross discount on LME 2nd Price Fixing on locked on date contract signed. We can at a stretch take off a substantial amount as discount strictly dependent on closure time and quantity. I look forward to hearing from you and believe we can build a strong and lasting business relationship together.


				
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posted:5/18/2009
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Description: We presently have Gold dust (4.5MT) & Dory bars (2.5MT) in storage here in Ghana for sale with a security company specialized for storage of AU and other delicate goods amongst other services they carry out. CIF Price of gold dust is $19,000/kg & Dory bar is $20,400/kg