Gold C.I.F SBLC or BG via Swift MT 760

Commodity            :  Gold
Origin                     :  Republic of Ghana
Form                       :  Gold Bar
Product-History     :  Clean, Clear, No Liens and Non-Criminal Origin
Delivery                  :  CIF
Purity                      :  92+ Fineness
Minimum Quantity :  50 kilograms
Each shipment and delivery shall be identified with all assigned contract reference codes and numbers.
The Following documents shall be issued prior to shipping and arrival of gold:
Ø    Commercial Invoice
Ø     Packing List
Ø     Assay Report
Ø     Certificate of Origin
Ø     Bank of Ghana export declaration
Ø     Customs Declaration forms
Ø     Airway Bill
Price                        :  Negotiable
Currency                 :  USD
Payment                  :  Wire-Transfer

Buyer shall send Bank Guarantee (BG), or Standby Letter of Credit (SBLC) via Swift MT 760 for a term of one year and one day (366 days) and the funds will remain unencumbered during this period. For the entire term of the contract in accordance with our Bank verbiage as a guarantee of Payment for 100% CIF.
* Shipments shall be 100% CIF.
* Seller shall pay all expenses to deliver the gold to buyer's refinery in Buyer's country.
ü  The gold shall be processed and delivered in batch on a monthly basis.

 We are in partnership with a registered gold trading; Government approved gold Refinery and Export Company in Ghana with two mining Concessions. The Refinery also have Export License to export Gold to any country in the world. They have about 32 buying centers (Small Mines) that they finance for them to mine and deliver Gold to the company at discounted price, because the company pre-finances their operations. 
With 32 buying centers fully financed, a total of 350kg monthly is guarantee, However, if buyer can provide SBLC or BG for a minimum of 50 kilograms on a one (1) year contract, we can deliver to any destination of buyer’s choice.
           We can deliver about 3,600 kg annually on CIF basis. Payment will be based on minimum 92.00% and maximum 99.99% purity after final assay at buyer’s destination refinery.

Below are the PROCEDURES acceptable to us for the execution of the delivery: 
...1...              Seller and Buyer execute SPA and deposit with respective banks.
...2...              Within 2 working days, Buyer Bank swift irrevocable, transferable, and confirmable Standby Letter of Credit (SBLC) or BG to Seller’s Bank.
...3...              Upon receipt of SBLC/BG, Seller’s Financier Bank shall issue a 2% Performance Bond to activate the SBLC/BG.
...4...              Within 7 days after issuing the 2% Performance Bond, Seller prepares the first monthly tranche for shipment to Buyer’s nominated destination airport.
...5...              Before shipment, the Gold is Assay at Government approved refinery in Ghana and the Assay report with other shipping documents sent to Buyer and copies both seller and buyers banks.
...6...              Gold arrive buyers destination airport. Buyer shall be responsible for duties and Government taxes at the destination airport and for clearance of Gold to buyer destination Refinery.
...7...              Buyer’s refinery conducts Final Assay and issues report to determine actual weight and purity of Gold, which will serve as the bases for payment.
...8...              Based on the final weight of the gold and the final purity of the assay, seller will present a commercial invoice for full value of assayed 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.

If the above PROCEDURE and PRICE are acceptable to you kindly revert so that we proceed to Draft SPA for your review, completion and signature.