Buyer shall send Bank Guarantee (BG), Standby Letter of Credit (SBLC) For the entire term of the contract per our Financiers Bank verbiage as a Guarantee of Payment for 100% CIF.
We also accept Block funds via MT-799
* Shipments shall be 100% CIF.
* Seller shall pay all expenses to deliver the Gold to the buyer's refinery in the buyer country.
*The Gold shall be processed and delivered in batches monthly.
- Commodity: Gold
- Origin: Republic of Ghana
- Form: Gold Bar
- Product-History: Clean, Clear, No Liens and Non-Criminal Origin
- Delivery: CIF
- Minimum Quantity: 50 kilos
- Price: Negotiable
- Currency: USD
- Payment: Wire-Transfer
Below are the PROCEDURES acceptable to us for the execution of the transaction:
- Seller and Buyer shall sign the Sales and purchase agreement (SPA).
- Then, the buyer’s bank shall send a swift irrevocable, transferable, and confirmable SBLC, or BG to Seller's Financier Bank.
- Upon receipt of Banking Instrument, Seller shall prepare the 1st monthly tranche for shipment to Buyer's nominated destination airport.
- Before shipment, the Gold will be Assayed at a Government approved refinery in Ghana and the Assay report with other shipping documents sent to the Buyer and copies both seller and buyers banks.
- Gold arrives at the buyer's destination airport. The buyer shall be responsible for duties, Clearance, and Government taxes at the destination port.
- Buyer's refinery shall conduct Final Assay, and issues report determining the actual weight and purity of Gold, which will serve as the bases for payment.
- Based on the final weight and purity of the Gold, the seller will present a commercial invoice for the full value of the Gold.
The Above is our outdated CIF Procedures
We have stopped accepting banking instruments such as BG, SBLC, and DLC as a guarantee of payment; because our bank has stopped honouring international banking instruments. Therefore, we have no option than to stop accepting it as a form of guarantee of payment.