GOLD BARS

FORM Gold Bars, 1 kg each, with 96,66 % (+/-2% Deviation) purity for export PRICE Minus 15 % based on LBMA afternoon fixing price, same day of the assay report at the agreed refinery at Buyer’s Destination

• The agreed currency is in US dollar ($).

• The price will be calculated after the report of the final test of the refinery (weight and quality) as follows: Price of the LBMA (London Bullion Market Association), the day of the final test report of the refinery which will give the total cost to be paid to the Seller. COMMISSION With the price discount of LBMA minus 15 %,

DOCUMENTS: These documents shall accompany each and every shipment:

1. Original Certificate of Ownership

2. Certificate of Origin & Noncriminal origin

3. Internationally Accepted Pre-Assay Certificate on purity %

4. Certificate of Insurance

5. Export Permit - Export License

6. Proforma Commercial Invoice

7. Packing list

8. Airway bill

PROCEDURES:

1. Buyer signs FCO and confirms the offer and returns with CIS

2. Seller sends the SPA to the Buyer

3. Buyer signs and returns SPA along with Bank RWA

4. Seller issues Proforma Invoice to the Buyer

5. Buyer & Seller Agree on Logistics Company, and Buyer pays the 13.5% directly to the logistics company that is; (5% for logistics/freight & 8.5% as government tax). There may also be a possible option for Buyer & Seller to jointly negotiate with the logistics company for it to pay part or all of the 8.5% government tax by bond and get reimbursed by the Buyer in his final destination after the gold is delivered. The 13.5% shall be deducted from the price when making the final payment to the Seller.

6. Seller shall immediately commence delivery in shipments of 500 KG to 1000 Kg per month

7. WITHIN 48 hours after release and acceptance of ASSAY Report, Seller shall issue the Final Commercial Invoice and the Buyer shall affect payment per SWIFT MT 103/ CASH TT to the Seller Account.

8. All importation expenses from Buyer Destination Airport are on the Buyer account P

AYMENT FOR COMMODITY & FEES:

1. The Final Invoice shall be based on the Assay Report by the Refinery/Assayer as agreed and accepted by both Parties. The Buyer shall affect payment for the Gold as well as the Fees to Facilitators per MT103 within 48 hours of the release and acceptance of the final Assay Report for the Shipment.

2. The NCNDA/IMFPA, signed by the Buyer, for execution by the Buyer Bank, shall be co-signed by the Buyer and deposited by Buyer Bank to the respective facilitators. The Buyer/Buyer Mandate shall email a signed copy of the Bank acknowledgement to each Beneficiary. TITLE AND RISK: Seller shall transfer title and all legal documents for each shipment to Buyer upon receipt of payment for the shipment immediately after payment is confirmed by Seller’s bank. 

Buyer retains 12 % net and Buyer pays 3% of the LBMA gold price as commission to the mandates/intermediaries. Commission Payment shall be executed by Buyers bank to the relevant mandates/intermediaries, within forty-eight (48) hours after receipt of assay report.. 1.5% for Buyer side mandates and 1.5% to Seller side mandates.

PURE GOLD Purity is 96,66 % [22 karats] + CONTRACT QUANTITY 12,000 kg (500 Kg to 1000 Kg per month) ORIGIN COTE D’IVOIRE SUPPLY MODE By Air Freight C I F Dubai Airport Free zone. Buyer to pay logistics and government tax (total of 13.5%) in advance for each shipment to the agreed logistics company. In case Buyer does not want to pay advance for logistics & Tax, Transferable, divisible SBLC/LC can be used.