Dear gentlemen, We are a trading company in Turkey. We are working on projects too. Currently, We are working with a buyers mandate. He is American andlooking his american buyer 10000 mt gold. We give guarantee to buy that amount. After buying that amount, we can buy more. We want 10% discount and 7 % net to buyer. 1.5 buyer seller s Show More...
Dear gentlemen, We are a trading company in Turkey. We are working on projects too. Currently, We are working with a buyers mandate. He is American andlooking his american buyer 10000 mt gold. We give guarantee to buy that amount. After buying that amount, we can buy more. We want 10% discount and 7 % net to buyer. 1.5 buyer seller sant to work according to our procedure. Our procedures are following : a) Buyer signs the Agreement first and e-mails faxes it to Seller. b) Seller, upon receipt, signs the Agreement and sends it back to Buyer. c) After the signing and exchange of copies of the Agreement, Seller issues USD 1.000.000.- Non-Operative Performance Bond within 5 (five) banking days. d) The Buyer, within 3 (three) banking days of receipt of the Performance Bond, instructs his bank to issue to the Seller's bank an irrevocable, revolving u201coperativeu201d Bank Payment Commitment (B.P.C.) in favour of the Seller, acceptable by Seller's bank and guaranteeing payment within 5 (five) banking days after each and every delivery of the commodity, allowing time for quality tests controls. The Performance Bond shall be operative upon receipt of the Buyer's "Bank Payment Guarantee" . e) Selleru2019s bank, upon receipt of the Buyer Banku2019s commitment as above (4, c) shall issue within 3 (three) banking days commence delivery of the first tranche of 25 (twenty five) metric tons. This Selleru2019s P.B. guarantees delivery to the Buyer, to the agreed FTZ, of the first and every subsequent tranches. The Buyersu2019 commitment will become operative and the Buyeru2019s Bank will block his funds in a special account in the above mentioned Bank, to the value of 25 (twenty five) metric tons of the . f) It is agreed that, the exchange between the Operative Seller 2% Performance Bond against the blocked funds constitutes Seller and Buyer commitment and the exchange of the Proof of Product (P.O.P) against the Proof of Funds (P.O.F) in good faith. g) At delivery, the Buyer will verify the quantity and quality of the product by using the existing and appropriate technologies that allow ng the product up to a fraction of 1%. The Seller has agreed not to object to any further test verification of the product by a LBMA listed refinery, subject to this taking place within the specified period of 5 (five) Banking days after delivery. h) The results from such test verification, carried out at the cost of the Buyer, shall be binding on both Parties. Selleru2019s Assayer, at Selleru2019s costs, can be present during that process to confirm those findings (see u00a711). Any person or seller who can fit to this procedures are wellcome. sincerely yours, HSOGLU TEL : 0090 212 296 90 48 FAX: 0090 212 296 95 26 GSM: 0090 537 421 56 06
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