Common questions
Pass Some Steps
1) 1) Check if the offer matches your buyer's
Modus Operandi
2) If you are not DIRECTLY connected to the
purchase, please pass on the information to
whoever you are. This procedure aims to
expedite the process.
3) Send LOI signed by the buyer or mandate
4) After analysis of LOI by the representative
of the miner, the sales representative will
contact the representative of the purchase
to ensure that the information is true and
that has the consent of the buyer.
5) We will send to FCO for buyer review
6) After adjustments of both parties (if
necessary), the FCO must return signed by
the buyer / payer.
7) The purchase group shall formalize a grid
containing all its commissioned
intermediaries.
(NCNDA, JVA, PSA, IMPFA, etc.)
8) Buyer data must be sent: CIS + Passport +
Paying account + comfort letter, to make
the SPA
9) SPA will be made after the analysis of
comfort letter and other documents of the
buyer
10) SPA containing all data (buyer and seller)
will be evaluated by the buyer / payer and
returned signed
11) Once the gold has been delivered to the
refinery indicated by the buyer and after
refining / certification, the buyer will make
a bank transfer of the value determined in
favor of the seller, based on the final weight
of the refining (99%).
12) Confirmed transfer, the seller will pay the
commissions as signed in the SPA and
detailed according to the specific
documentation (item 7).
13) If there is PAYMASTER, it will distribute the
commissions among its members.
14) Once the first operation is completed and
the buyer has fully complied with what has
been done, we can increase the gold supply
to 500kg or more.
1) Can I submit the offer for any social media? Yes
2) Who can send the offer? Anyone directly or
indirectly involved in the operation
3) Is there any formality to send the offer? No. It is
just a communication tool that informs on
availability and a few operational issues.
4) What is the function of the Intermediaries in the
process? Of relevant importance, because they
are the ones that connect the buyer to the
seller. However they must understand that the
negotiation will be between the representative
of the purchase and the representative of the
sale.
5) Are the intermediaries included in the contract?
Usually all names and commissions will appear
in separate document and will be attached to
the final agreement. (see item 7 of the Steps)
6) Is there any formality for LOI? Yes, since no bank
guarantees or blocked funds are required in this
operation, LOI should follow the ICC standard.
7) If we do not have this model of LOI do you
provide? No. Documents such as: NCNDA, JVA,
PSA, IMPFA, as well as guidelines to
communicate the bank that the bank account of
each commissioner / intermediary will receive a
financial contribution, must be presented by the
head of the purchase group. We do not provide
consulting services.
8) Is there a standard for FCO? Yes, this document
is sent by the miner and must be signed by the
buyer.
9) When will we send the buyer's data? Once the
FCO is accepted and signed, it must be sent: CIS
+ Passport + Paying account + comfort letter +
Document with grid of the commissioners of the
purchase.
10) When will the SPA be sent? Once items 7 and 8
are completed.
11) How long until delivery of the gold to the buyer?
Will be agreed in SPA
12) Is there any option for gold to get there faster?
Yes, we work with several mining companies
and those that require bank guarantee send in
up to 5 business days (bank days)