EXECUTIVE SUMMARY / FORMAL OFFER TO SELL ISSUED BY OUR RESPONSIBLE SELLER
"We are responsible Sellers with established top-level banking relationships and close ties to a major consortium of governments in Asia and the Pacific Rim. We hold title of ownership to one of the largest stockpiles of GLD standard bullion on the market.
We specialize in large-volume sales to select "high-value" Buyers: Governments, Banks, Multinationals, Institutional Investors, Royal Family/Sovereign Affiliates, Purchasing Consortiums and Ultra High-Net-Worth Individuals.
We are pleased to offer qualified Buyers an outstanding opportunity to purchase a major consignment of government-affiliated bullion on attractive, “buyer-friendly” terms. Sales are managed within the safe and secure confines of the banking system.
DESCRIPTION OF PRODUCT
COMMODITY : GLD Standard Bullion (refined to GLD specifications)
FORMAT : 12.5 KG Bars
PURITY : 999.5/1000 or better fineness
ASSAY REPORTS : GLD Certification, less than five (5) years old
HALLMARK : Internationally recognized hallmarks (Metalor, Hong Kong)
SERIAL NUMBERS : Stamped, recorded & registered with the
LBMA QUANTITY : "Large-tonnage" product inventory, regularly replenished
STORAGE : HSBC-approved private security warehouse in Hong Kong
INSURANCE : Insured by Lloyd's of London for full LBMA market value
TRADE STATUS : Freely liftable and tradable and fully exportable
Full governmental/agency clearances and approvals Export permits already issued in name of Seller
TERMS OF PURCHASE
MODALITY : Bank-managed transactions. Major World Banks only.
SELLER’S BANK : HSBC, Hong Kong, Main Office
DISCOUNT : Gross 8% and Net 6% discount to Buyer (LBMA, 2nd fix)
CONTRACT SIZE : Flexible, to suit Buyer's requirements. Large-tonnage,
multi-Lift contracts available. Minimum 200 MT of product.
FIRST LIFT : 200 MT of product (fixed amount)
FURTHER LIFTS : Flexible Lift size/Lift frequency. Daily, weekly or monthly Lifts. Minimum 200 MT Lift amount. One-year contracts available.
DELIVERY : EXW (“Ex Works”) Metalor refinery or HSBC, Hong Kong
vault storage or Seller's private security warehouse. “Two – weeks” free warehouse storage and insurance cover.
PAYMENT : "Ledger-to-Ledger" transfer of cash funds (USD or equivalent).
Buyers may choose from a menu of Settlement Banks.
CONSULTING FEES : 2% Consultancy Fees payable by Seller as follows:
1% to Seller's side (closed, disbursed by Seller 1% to Buyer's side, disbursed by Seller or Buyer
“BANK-TO-BANK” – MANAGED TRANSACTIONS
Transactions are managed exclusively within the banking system under full banking vigilance and scrutiny, utilizing standard SWIFT protocols and in full compliance with applicable laws and international standards and regulations.
All bullion sales are subject to rigorous governmental and regulatory oversight. We work closely with the Hong Kong Monetary Authority (“HKMA”). The US FED and the Bank of International Settlements will be notified of impending transactions.
FULLY EXPORTABLE PRODUCT
The bullion is sold with full Government Export Approval and Tax-Paid Clearance. The export permits have already been issued and will be listed in the contract and confirmed by our Bank Officer during the Table Top Meeting inside HSBC, Hong Kong.
Hong Kong is the third largest Free Trade Zone (and second largest gold exporter) in the world. There are no restrictions or customs duty on bullion exports. We work closely with Brink's, Hong Kong and can facilitate introductions upon request.
ASSAY & DELIVERY OPTIONS
Buyers may attend with their certified Assayers at our security warehouse or engage the refinery Assayers from Metalor or Heraeus refineries to assay the Lift amount. We would be pleased to introduce Buyers to the Senior Manager at Metalor.
Alternatively, we will move the initial Lift amount to Metalor for a final assay. Buyers may take delivery upon closing directly from refinery storage as pure GLD or we will return the newly certified bars to our security warehouse and provide the original SKR.
We can also arrange for HSBC, Hong Kong to collect the re-certified bullion from Metalor refinery and transfer the product into the Bank's vault or depository under HSBC’s custodial safekeeping. Upon closing, Buyers will receive a new Bank SKR.
We are also willing, after closing, to provide two-weeks free warehouse storage and insurance cover to Buyers who prefer to leave the product in situ or we will deliver the Lift amount at our expense to the Hong Kong International Airport, Free Trade Zone.
OPTIONAL SETTLEMENT PROCEDURES
Settling payment is managed on a "ledger-to-ledger" basis in the Buyer's Settlement Bank. This ensures the prompt and orderly funds transfer/title exchange on closing, helps preserve confidentiality and eliminates the prospect of international law disputes.
Buyers may nominate any major Bank in Hong Kong as their Settlement Bank; we will oblige by opening a bank account in the Buyer's designated Bank. Or we can assist Buyers to open a bank account in HSBC, Hong Kong, Main Office.
Alternatively, Western Buyers are welcome to utilize HSBC Bank, London, Head Office for settling payment. Similarly, Asian Buyers who prefer to maintain their purchase funds in Mainland China may utilize Bank of China, Beijing, Head Office.
NOTICE: Given the nature and sensitivity of these large-scale transactions, we do not, as a matter of prudent policy, provide proof of product upon demand; nor do we require advance proof of funds from potential Buyers. Such matters, out of an abundance of caution, are handled exclusively within the banking system via secure banking means and channels.
Our bank procedures are “time-tested” and fully Bank-compliant and have been approved by our Transacting Bank, HSBC, Hong Kong, Main Office:
1) The Parties engage in meaningful contract discussions. The Buyer and Seller sign the SPA electronically and lodge the same with their respective Banks.
Note: The Parties will exchange manually signed contracts inside the Seller's Transacting Bank during the Table Top Meeting described below.
2) The Seller's Bank Officer contacts the Buyer's Bank Officer during the scheduled Bank "window time". The Bank Officers engage in a full and frank discussion confirming the POP/POF status of their respective bank customers.
3) The Buyer's Bank Officer transmits a Bank Confirmation Letter via SWIFT 799 to the Seller's Bank Officer confirming Proof of Funds. The Seller's Bank Officer, during the same scheduled Bank "window time", remits a SWIFT MT 600 (Precious Metal Trade Confirmation Message) confirming Proof of Product.
Note: Where the Buyer's Bank is located in Hong Kong or Mainland China, POP/POF is confirmable via bank-secured fax. No SWIFT’s required. The Buyer's Bank Officer transmits a Bank Tear Sheet and receives a true copy of Seller's SKR.
4) The Buyer transfers his purchase funds into his chosen Settlement Bank in Hong Kong. The Seller opens a bank account in the Buyer's Bank to facilitate the "ledger-to-ledger" transfer of payment upon closing. Alternatively, the Seller can assist the Buyer to open a bank account in HSBC, Hong Kong, Main Office.
Note: The Buyer may, instead, transfer his funds into HSBC Bank, London, Head Office and utilize HSBC Bank, London as the Settlement Bank. Alternatively, the Buyer may utilize Bank of China, Beijing for settling payment.
5) The Seller's Bank Officer convenes a Table Top Meeting in HSBC, Hong Kong with the Seller & Buyer's delegation in attendance and provides authenticated copies of the pertinent product/title documents to the Buyer's Bank Officer.
6) The Buyer, after positive verification of the Seller's product/title documentation, instructs his Bank Officer to block his funds for the value of the Lift amount as a guarantee of payment as per the terms of the Agreement.
7) The Buyer attends at the Seller's security warehouse with his certified inspection team and assays the product. Alternatively, at the Buyers' request, the Seller delivers the product to Metalor refinery, Hong Kong for a final assay.
Note: The Seller is also willing, upon request, to arrange for HSBC, Hong Kong to collect the newly assayed product directly from Metalor refinery and move the Au Metal into the Bank's vault or Bank-controlled depository.
8) After completion of the final assay, the Seller's Bank Officer convenes a Table Top Meeting in HSBC, Hong Kong with the Seller and Buyer's delegations in attendance. The Parties' Bank Officers jointly calculate the gold price, then close the transaction on a "payment-versus-delivery (transfer of title)" basis.
At the Buyer's option, we would be pleased to include a Two Percent (2%) penalty clause for non-performance based on the purchase value of the Lift amount. Depending on Lift size, this equates to a minimum $180 Million USD damages award payable to the Buyer as agreed compensation in the event of a breach of contract by the Seller."
If the above does not match your requirements, here are alternatives: