There is another option - we have one confirmed offer - it can be sold by time
procedures are accepted by buyer?
A. Client sends letter of interest including quantity, frequency of deliveries and
B. Seller in return sends to client SPA- sale and purchase agreement;
C. The Buyer and Seller enter into contract signed and sealed, upon
acceptance by both parties;
D. Buyer prepares BCL for trial shipment, covering the total quantity agreed by
parties,with payment within 72 Hrs after the issuing of the Assay by refinery.
E. Seller ships the Gold Dust (trial shipment) to the buyers Nominated Refinery
with all required export documents, and commodity description.
G. While this refining process takes place seller or this Representative (one
person only) will be invited to be present.
H. The Dust remains at all time the property of the Seller using the account of
the Buyer at the refinery, and shall only be released to the Buyer once the
Commercial Invoices are signed and Accepted by the Buyer and Payment shall
be released to the Sellers Bank Account immediately.
I. Upon successful assay - Buyer opens a STANDBY LETTER OF CREDIT
(SBLC) covering the contract total quantity in favour of the Seller’s Bank, to
activate signed contract and enable further shipments stated in SPA.
J.The duration of the SBLC will be 30 days after the last shipment of the
contract in favour of the Seller’s Bank, to activate signed contract and enable
further shipments stated in SPA.