23/11/2019
If you are seriously considering buying gold from us, please note that our gold sale price is non-negotiable and it is fixed at 85% of LBMA price whether the gold buyer is buying the gold stock for local consumption or for export. Our price is determined by this formula to avoid spending alot of time on price negotiations as if there is a problem of marketing. We already have buyers and we sell as per order. We do not sell to clients who have not placed any orders with us and we sell only to authorized gold dealers. Our transactions are always done in the banks for security reasons.
We pay for all local taxes(e.g Mineral Royalty Tax) from what we are paid and the buyer, if exporting the gold stock, pays for the export permit and export duty. So in short, we only help in obtaining the export permit if the client wants to export the gold stock, but that's at their expence. Similarly, insurance cover, customs clearance, freight and any other export expenses are not our responsibility.
Inspection for quantity and purity is done within the bank from 09.00hrs to 15.00hrs in the presence of all the parties to the transaction. We do Specific Gravity(SG) tests, XRF Analysis using a portable Niton gun and Acid Test and any other test as the buyer may request and agreed by us. The cost of inspection/testing is shared equally between ourselves ourselves and the buyer.
In the unlikely event that the gold stock is found to be fake gold, we refund the buyer all expenses incurred as supported by receipts. Likewise, if the buyer fails to pay for the gold stock within 72hrs of completion of inspection, we do demand to be refunded all our expences supported by receipts.
All we need from the buyer is a Letter of Intent(LIO) to buy our gold, Purchase Order, Gold Trading Permit/Gold Dealer's Licence, Certificate of Incorporation/ Copy of Identity(NRC/Passport) and proof of funds.
