How it works
How can YOU get Cash for your gold.
If you have gold for sale, here are our procedures:
We mainly accept to buy only raw – any purity – or bullion – over 99.95% purity – Gold Bars (nuggets or gold dust is not acceptable in Dubai Customs) on a CIF Dubai basis , assuming of course that all legal documentation, together with Certificate of Origin and proof of taxes paid are submitted for clearance.
When the Gold is in the UAE, A GOLD can then import the Gold using either our Customs Clearance and Import License for Precious Metals or via one of the nominated Customs Clearance Brokers, like Transguard, G4S or Brinks, or any other reputable and fully licensed by the UAE Government Customs Clearance Agent.
After the Gold is cleared through Customs then one of the local internationally recognized and licensed by the local authorities Security Transport with a Bonded Warehouse companies, like Transguard, Brinks or G4S, or any other reputable and fully licensed by the local authorities company, will transport the Gold to our Nominated Refinery, Smelting House or Assayer.
When the assay is done by the licensed assayer and the results are accepted by the Seller, then the Seller and the Buyer will formally sign the Final Commercial Invoice as per the terms of our Sales & Purchase Agreement (SPA) and we would pay for it by Swift/TT within the next 3 banking business days at the agreed contract price.
When the gold arrives in the UAE, we always expect and want the Seller or his nominated representative to accompany the gold through all stages (Customs Clearance, weighing, assaying and if found to be non-homogeneous then re-smelting, re-assaying and weighing again) and the gold will only change ownership when the Final Commercial Invoice is issued after the assay and signed by both the Seller and Buyer, or their representatives as stated in the SPA, and in the presence of one of the Buyer’s Bank officers in the UAE. We will then transfer the full value of the shipment within 3 banking days and always according to all the terms and conditions in the SPA.
In order to understand all the Terms & Conditions, procedures and the documentation required to sell us your gold, your can request a Draft SPA with the documented requirements and procedures, followed by receipt of your Full or Soft Corporate Offer (FCO/SCO) stating quantity and discount based on Purity and LBMA price offered and if acceptable on principle, then completing and forwarding the Client Information Sheet/Know Your Client (CIS/KYC) form.
In cases where the Seller agrees to ship the gold CIF Dubai with payment terms 3 business banking days after assay, but wants funds in order to pay for the export taxes, freight, insurance, documentation, etc., then our advice to the Seller is to sell locally a few kilos of gold in order to get the necessary cash flow for all the above and then be able to export the gold CIF Dubai.
Click to view required documentation for selling gold
Click to view Procedures for selling gold CIF UK, Dubai or Mwanza, Tanzania / Worldwide: