Procedure for the purchase of raw gold from
Burkina Faso/ Mali and Ghana
Below are our non-negotiable procedures for all customers buying gold from the Seller. The procedures are a simple design to protect both our company and the prospective gold buyer. And it is this procedure that gives the Seller a reliable and trustworthy image in the gold business.
- All new buyers are supposed to visit Seller’s head office in Burkina Faso for contract signing. It is the company policy not to sign any contract off air or through Internet because of the high crimes involve in this type of contract. In case the buyer himself cannot travel; he can mandate his own agent to come and sign contracts. We believe that, if you are going to do a gold business and do business with us, the best way to conclude it successfully is to be in a tabletop meeting, sign contracts face to face and exchange documents. This gives each party much assurance.
- Once the contract is signed in Seller’s office, on the same day, the Seller will arrange for the contract quantity to be brought to the office for the customer to analyze and/or take control. After this, the gold will then be taken to the Customs office for documentations and to prepare for shipment. Seller will take care of all documentation requirements.
- The Buyer or buyer’s agent will be present during the documentation procedure for the gold as there are some documents that need to be signed by both parties. All taxes from seller's origin to the buyer's destination are to be borne by the Buyer.
- Once the documentation process is completed/finished, the seller will send copies to the buyer’s refinery to prepare for the arrival of the gold. Once the gold arrives at the refinery accompanied by the seller’s representative the buyer will take care of all the import duties and will also provide the security escort to the refinery. The buyer will then have ten (10) working days to settle the total value of the invoice for the gold.
- The Buyer will be required to provide "Proof of Funds" (POF) during the table top meeting and the seller will also provide "Proof of Products" (POP) at the same time before the contract is signed.
L/Cs, BGs and MTs in any form are not accessible here in the countries banks for gold that is not refined and recognized by the LBME refinery. So the Seller only provides NON-Refined gold. The above banking instruments are only acceptable by any local bank if the LBME refinery and it refine the gold hallmark to be of not less than 24 carats in quality. So that is to say, No bank will accept any LCs or BG for "Non Refined Gold".
Do not be misled by brokers or fraudsters who will waste your time and money.
The Company does not and will not send any official company documents to any person without having met the buyer in person first. All our company documents will be given to the buyer at the tabletop meeting.
Mr. Kone Bakary
Legal Seller Representative
Letter of Intent
(Insert Date / spell out month)
I/We,____________(insert company name)of ___________________(insert full business address/ P.O. Boxes not accepted) hereby state and represent that it is our intention to purchase the following commodity as per the terms, conditions, specifications, quantity, and price stated below. I/we hereby confirm that under International Criminal Penalty of Perjury and Civil/Criminal Intent to Defraud, by signature below verify that I/we have the financial capability, including the necessary import permits, to complete the purchase. This representation is made with full corporate authority and responsibility of the above stated buyer.
Banking Coordinates of Buyer's Top 25 World Bank
- Commodity :
- Origin :
- Specifications :
- Total Contracted Quantity : (insert total quantity kilograms)
- Contract Length :
- Shipments : (insert quantity to be shipped per month) X (insert the number of shipment months)
- Packing :
- Destination Airport : (insert name of Airport and country)
- Price Quoted : (insert USD$ amount)
- INCOTERM 2000 : (insert FOB or CIF)
- Payment Instrument :
- L/C Issuing Bank
- Bank Name :
- Branch :
- Bank's Full Address :
- Telephone :
- Fax :
- Bank Officer's Name :
- Title / Position :
- SWIFT code :
- ABA / Routing Number :
- Account Name :
- Account Number :
This Letter of Intent is valid for five (5) business days and is exclusively being submitted to only your group during the validity period. Please submit Formal Corporate Offer or Draft Contract. I/We understand that any and all offer’s and/or contracts are subject to Seller’s successful soft probe of Buyer’s financial capability and Good Standings of Buyer's account. I/We being of legal authority, grant the right and permission to Seller to conduct a soft probe of the following Buyer’s bank account and financial capability listed herein.
Authorized Executive's Name
Title / Position
Signature and Seal
With Full Contact Details - Tel.number/Fax number/Email
date month year Ref:
GROUPE BONSWENDE firstname.lastname@example.org
Mandate Appointment Letter
This is to confirm that Mr. /Mrs. ………………. Passport n……….., is appointed as our Legal
Buyer’s Mandate and authorized to act on behalf of our company.
This letter is authorized his exclusivity to act on behalf of us as Mandate to negotiate the price, commission, and until completion of the contract.
Signed & Stamped