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Gold buyer

  • USA USA  
  • Last Updated:
    Posted on: 24 Jul 2024

Buyer Information

RFQ Details

These are the buyers procedures to start:

Commodity : Gold Bullion (AU) GLD.
Format : Bars of 12.5 KG (Twelve Point Five Kilogram) in weight of Au Bullion
Fineness : 999.5 % or better
Hallmark : Internationally Acceptable Hall Mark 5 years or less
Total Quantity : Twenty Thousand Metric Tonnes (20, 000 MT)
Location : FOB Europe, Asia or Dubai
Price : Second fixing of the LBMA on the day of Settlement
Discount : 8% Gross / 5% Net as an example
Commission : Sell side (Seller Pays fee for referral brokers)
(Buy Side Closed to authorized Sovereign representative)
Delivery : Ex Warehouse or Bank
Seller Banking : TBD based on the location of the delivered AU.
Procedures:
1) Buyer signs this Full Corporate Offer.
2) Buyer demonstrates financial capability to purchase AU
by providing Euroclear/DTC Screening Codes. Seller verifies codes
3) Seller sends SKR and Assays to Buyer.
4) Buyer verifies the SKR - AU deposit to include ASSAYS.
5) Buyer confirms the verification and sends MT103/23 to the Seller Bank and/or Pay Order
redeemed at a Central Bank (payment determined by Buyer).
6) Transaction is completed on a Bank-to-Bank basis.


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