AU METAL 300MT HK

Description

 4. PROCEDURE

1.       Seller and Buyer sign the Agreement along with NCND & IMFPA and exchange Color copy of passports of Buyer & his witness/Corporate Resolution (as Appendix B) / Color copy of passport of the Seller & his witness electronically (insert of all the necessary info shall start from Buyer). Buyer shall issue a Confirmation Letter to Seller for setting up the Window Time to commence the transaction.
 
2.       Buyer and Seller shall lodge the signed agreement along with NCND & IMFPA with HSBC HK according to the agreed Window Time.
 
3.      On the appointment day during the window time, Seller’s Bank Officer shall initiate a call to Buyer’s Bank Officer to confirm with each other the existence of the SPA. Then Buyer’s bank officer will confirm availability of funds to purchase **0MT of AU Metal and Seller’s bank officer will confirm availability of product.

4.        After verbal verification of the POF and POP have been positively confirmed by both parties’ Bank officer, Buyer’s Bank Officer/Bullion Officer shall block Buyer’s Fund (as Appendix C) for **0MT of AU Metal by the agreement as per Transaction Code: ……. Immediate after Buyer’s fund has been blocked, Seller shall invite Buyer for physical inspection of AU Metal in the Seller’s Security Warehouse in Hong Kong and Seller’s Bank Officer shall also provide the original SKR for the said **0MT of AU Metal with all related Documentations to the Buyer’s Bank/Bullion Officer. The Buyer shall sign for acknowledgement of the said SKR and the documentations.
 
5.       On the next banking day when the inspection is completed, Seller shall issue an Invitation Letter to invite Buyer to conclude the transaction in the Seller’s Bank, HSBC Hong Kong main office. Upon receiving the said letter, Buyer shall sign for the acknowledgement.

6.       On the appointment day for the conclusion of the transaction, which is the next banking day, Seller shall transfer the ownership of **0MT of AU Metal and all related documentations to the Buyer, and simultaneously Buyer shall instruct his Bank Officer to release the full payment for **0MT of AU Metal, into Seller’s account in HSBC, Hong Kong. The conclusion of the transaction shall take place under acknowledgement of Seller’s and Buyer’s Bullion Bank Officer, who shall endorse the document of transferring Ownership.

7.       On the same day, Seller and Buyer shall instruct their Bank Officers to immediately transfer the commission to the designated accounts of consultants and intermediaries according to the IMFPA against the Transaction Code:……………. 
        
8.       Upon transfer of title and Ownership of the Au Metal from the Seller to the Buyer, Buyer takes delivery from the storage/warehouse in Hong Kong.
      
9.       Further deliveries of size and frequency of lifts to be followed in accordance with the agreed schedule and pursuant to the procedures as set forth herein between Buyer and Seller until the commodity is fully exhausted. 

*0.   The complete contract quantity shall be completed within Two (2) months from the date of the first lift.

The above can replace of our previous SCO in the column of No. 4 PROCEDURES, which we believe that should provide more comfortable to your Buyer

Regards
MASA MBATHA-OPASHA
heirsdotglobaltradingatgmaildotcom
SKYPE:masadotopasha3