The company proficiently acts as a key Sourcing Agent of
Gold Bar or Gold Bullion (Au) Metal in GLD Standard. Gold is a dense, soft, shiny, malleable and ductile metal. The Gold Bar is a chemical element with the symbol Au' and Atomic Number 79. 100% pure Gold Bar can be made available by us at the best deals. Non-hallmarked Gold Bars are also available with us.
Details - Sizes available : 1Kg / 12.5 Kg
- Symbol : Au
- Melting Point : 1, 064 oC
- Electron Configuration : [Xe] 4f14 5d10 6s1
- Atomic Number : 79
- CAS ID : 7440-57-5
- Atomic Mass : 196.96657 0.00004 u
- Colors & Packaging Available : Variety of yellow-orange color blends, bulk shipment
Soft Offer : American Mine Production, on Demand, .9995% Au Bars, Newly refined from American Ore LBMA Refined Standard AU Metal Gold Bullion Bars, Manufactured to the Good London Delivery (GLD) Standard within the banking system, and offered under full banking responsibility by the Sellers Banker, Citibank.
Note : The discount on Gold Bar (hallmarked) will be around 4-5% (out of which 1% will be our charges) depending upon situation.
Format : 12.5 KG Au Bullion Bars (or other sizes): in quantities of from 250KG up to 3 MT/ month for 12 months
Fineness : 999.5/1000 parts Pure Gold per GLD specification or better
Hallmark : Johnson Matthey or other LBMA approved refinery and hallmark
Delivery : Via Brinks to any Bullion Bank/LBMA JM
Standard Terms - Price : Every lift purchase value calculated on the date delivered to buyers account, in advance of any discounts: The # of fine troy ounces of Au delivered, based on refinery Assayer Certificate, multiplied by the fine troy ounce price at the last known 2nd fixing of the LBMA
- Payment : Clean, clear and legal United States Dollars funds vs. the Au Metal GLD Standard Gold Bullion
- Guarantee : Buyer will provide SBLC OR cash escrow account in a top 25 Global Banks (Citibank preferred as Sellers bank) equal to 3 months cost of delivery; this will NOT be used for payment but as performance guarantee
- Seller Guarantee : Seller issues guarantee of SBLC from Citibank equal to size of Buyers first month delivery (e.g. equal to value of xx kg/mo per the appropriate size of delivery may be), each month for 3 months.
- Upon receipt of Buyers SBLC/BG instrument, Seller immediately begins Au concentrate processing into GLD standard, hallmarked bars, deliverable within15-30 days (One KG = 32.1507425 fine troy ounces. If LBMA is not operating on scheduled day, the price calculation used shall be base on the 2nd LBMA fixing of the next market opening day.)
Other Protections & Points of Information - Sellers instrument of guarantee is considered released upon delivery of Au GLD Standard Hallmarked bars that equals the deposit amount placed by buyer.
- Buyer shall pay for the Au Hallmarked Bars delivered under the contract, by wire transfer for 100% of face value of product, less the agreed discount, with payment to the Buyer within 72 hours of receipt of delivery
- Neither instrument is drawn upon unless qualifying event in the SPA triggers: Buyer non-payment 72 hours after Assay at CIF destination; Seller non-delivery, after 30 days of Buyers
Transaction Procedure Sequence - Buyer and NA designate Authorized Buying Agent status to XXXXXX America Group LLC to act on their behalf with BCL/FCL
- Initial conference call to confirm that potential buyer accepts procedures
- Letter of Request (on Sellers template) sent in by buyer or buyers signatory, addressed to Sellers Rep to include BCL
- Seller pre-approves LOR (1-2 BD)
- Invitation sent for LOI from Legal seller rep to buyers legal rep, with full seller coordinates & on sellers letterhead
- LOI sent by buyer with Bank Reference Letter
- Seller signs, seals FCO (2=3 BDs)
- Buyer countersigns & returns FCO
- Buyer & Seller may have conference call at this point for clarifications
- Seller issues SPA (2-4 BDs)
- Sellers attorney issues legal attestation of SBLC or Cash Escrow for 90 days values as performance guarantee. Both types of PG term is 12 months
- Seller & Banker/Bullion officer will wait 24 hrs, (1) banking day, for Buyers Bank/Bullion Officer to provide/confirm the SBLC equal to 3 months delivery
- Upon receipt, Seller begins processing Au Concentrate into GLD bars to be transferred to Buyers Account at location, which has been preapproved by Seller
- CIF delivery from Salt Lake via Brinks or other secure air cargo to begin 15-30 days from Sellers receipt of Buyers SBLC or Escrow deposit
- Final payment is in clean, clear US dollars by wire transfer within 72 hours of receiving product, unless special arrangements made
- Application of both sides Bank Instruments is controlled by SPA, which is lodged at the bank with the instruments and it controls the instruments
