Golld Bullion

RFQ Description

under the new guidelines recently set forth by the Federal Reserve for GLD metal it is required by the bank officers to do standard FED compliance on the metal and the seller / beneficial owners of the metal on a bank to bank basis before any contracts can be signed.Anything outside of a strict Swiss procedure of POP with Sellers client info sheet and passport is now ILLEGAL to even attempt to transact. The seller, if they are legitimate, must be ready willing and able to submit this information directly by SWIFT to the Buyers Bank Officer for standard banking compliance under the new regulations.Upon completion of this compliance the buyers bank officer will then respond with POF including the Buyers client info sheet and passport information for the sellers bank officer to do their compliance as well. If the seller is not willing to comply with the new guidelines, we are sure there is no transaction worth going to jail over.1. Seller sends Full Corporate Offer (FCO) to Buyer through designated intermediary . Said Corporate Offer will give the following information:The quantity of Gold The form: 12.5 Kilo Bars (GLD) 5 years or lessFineness : 999.5% or betterHallmark : Johnson Matthey or some other known namesDiscount : Usually 9% Gross, 4% Net as a minimumFees: Divided equally between Sellers and Buyers RepsThe availability of the following documents will also be listed in the FCO:a) Safe Keeping Receiptb) Original Certificate of Depositc) Certificate of Origind) Certificate of Legal Ownershipe) Sellers Certificate stating that the GLD are free and clear of all liens and encumbrances and freely tradable and exportable and of non-criminal originf) Certified Weight List and Assay describing each Bar as follows:o Serial Number as stamped on each Baro Raw Weight as stamped on each Baro Total weight as stamped on each Baro Receipt of paid custom duties and taxeso Export Permit(s)2. Buyer answers FCO with a Full Corporate Positive Answer (RWA) and sends Fee Protection Agreement with an unsigned Purchased Contract to Seller.3. Seller completes and signs contract and returns it to Buyer via buyers Rep.4. Buyer signs contract and returns it to Seller. All above done electronically on the same day, if permitted by time zones.5. Seller sends a copy to buyer of the Safe Keeping Receipt and a Letter to his banker or warehouse manager giving him instructions to allow buyer to verify the existence of the gold and the pertinent information on said gold . The reason behind this request is that any person buying any gold wants to see it and verify it before paying for it. Having verified existence of the gold, buyer gives seller a Bank Issued Proof of Funds.6. Seller instructs his Bullion Officer to set a window time with Buyers Bullion Officer and meet in the Bullion Depository to close the transactionThe gold must be in GLD system and the documentation must conform to LBMA standards.Timing for the total transaction from start to finish should be 48 to 72 hours.====================================================D R A F T F C OSELLER LETTER HEAD (including physical address and contact numbers)Date: .To: (Buyer to be nominated)We SELLER Co. do hereby confirm with full legal and corporate responsibility, and under penalty of perjury that we are the legally authorized mandate of the principal Seller, and that we are ready willing and able to market and deliver below mentioned Au metal, under the following terms and conditions: Commodity: AU Metal.Weight: 12.5kg Bars.Purity: 999, 5Hallmark: Internationally acceptable.Quantity: 500 kg AU with Rolls and Extensions up to 20, 000 MT (Or as per sellers wish)Location: UBS, Zurich /or any other bullion bankPrice: Second Fix LBMA.Discount: 9% Gross 4% Net. (Or as per sellers wish)Consulting Fees: 2.5% Buyers Side (Closed), 2.5% Sellers Side (opened).Payment: Payment instrument acceptable to Sellers Bank.Documentation: Usual to the LBMA.Delivery: Buyers choice (Buyer will leave the Au if it is in UBS)Cost: Cost of re-smelting and delivery for Sellers account. (If such is needed)Procedure: 03, 06, 2010 Gold