The following are some of the questions that we are asked frequently.
Before you read the following section or ask any questions that are not covered here, you can download a Draft Sales & Purchase Agreement (SPA) at SPA_for_Sellers.doc or SPA_for_Buyers.doc
What is the price that you would pay for my gold?
Can you pay in advance for a) the Export Custom Duties, b) the transportation costs to Dubai, c) fees to a Diplomat to carry the gold, or any other expense?
We would never do Advance Payments for any expenses.
When do I get paid for my gold and when transfer of ownership of the gold takes place?
The transfer of ownership of the gold will automatically go to the Buyer the moment the Final Commercial Invoice is issued according to the weight of the gold by the refinery, the Assay Report by the Assayer or the refinery, and above all after the Final Commercial Invoice is signed by the Buyer’s Bank Officer certifying that the invoice is true, original and signed by the Buyer, and from that moment on, the Seller has the security of payment within 3 Dubai Business Banking Days (which are Monday to Thursday)signed and confirmed by the Buyer’s Bank Officer.
Can you open an SBLC for the value of the gold that we are going to ship you?
What would happen if the shipment is found by Dubai Customs to have illegal or not all paperwork according to their specifications to enter the country?
Can you provide us with Bank References?
We can certainly provide bank references for at least the last 30 years, as soon as we receive a copy of your Financial Statements and your bank references that you are a company or an individual doing reputable business and having been a good client for at least 5 years. Proof of Product (PoP) must also be sent via swift from your bank to our bank, in order to be able to issue a Bank Reference Letter.