Please read this brief first to ensure that you fully understand the Procedures and Terms & Conditions that are the only ones that we can purchase or sell gold under.
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Buying Gold from Sellers
We are interested to buy raw – any purity – or bullion – over 99.95% purity – gold only in bars (nuggets or gold dust is not acceptable in Dubai Customs) of any quantities (up to 1,000 Kg per week – unless the quantity is less than 100 Kg that we only need to smelt and assay – as the refinery requires one day to refine, one day is also required for logistics by Brinks or G4S, and the bank requires 3 days for the payment) of gold only under CIF terms Dubai, U.A.E.
We do not pay any money in advance with the excuse of the Sellers to pay taxes, insurance, shipping, fees to a Diplomat bringing the gold illegally to the import country, etc. in their country (something that is only asked by scammers), and if you are really a genuine seller who is interested to sell us your gold, instead of asking for advance payment you can easily sell a few Kg of gold locally and then ship your gold to us with CIF Dubai terms.
The maximum quantity we prefer to buy is up to 1 ton (and if necessary 2 tons) per week, per Client – which is about 52 tons per year per Client (as if the value is more than $40 million – which is the price for 1 ton of gold depending on the price of gold and the discount – the Central Bank starts asking a lot of questions and the transfer is delayed) and with an average three Clients at the same time during the same week, we can easily trade around 150 tons per year, which is over $6 billion per year. When we receive the gold, we will always weigh, smelt (and from that point on, we will store the gold in a sealed box and the owner will never be allowed to touch the gold and in case the seal of the box has been tampered with by anyone, then we will need to redo the weighting and smelting), assay and refine it to 99.95%, and pay only bank to bank within three business banking days. No other terms for purchasing the gold are acceptable. You can find detailed information about all our legal documents that are prepared by our legal department and bank specialists over the last 45 years that we are in business and posted in this website, and the wording is standard and cannot be changed for our SPA, PoF, and all other documents.
Legal Documentation… Seller must in all cases submit all the legal documentation for the gold to the Buyer at least 3 days in advance in order for the Buyer to take all the documentation to the local authorities in the country of export and also in Dubai for pre-clearance that everything is legal, valid and the gold can be exported and or imported to Dubai. If Seller does not have all the legal documentation, he must first obtain them and then contact and send them to the Buyer, otherwise, no transaction can be done. If the Seller is not a mine that produces the gold and is a Broker, then he may be obligated (especially if he is in a neighboring country to Congo) to submit the License of all the miners that he bought the gold from, since the reputable refineries will never accept to refine the gold without copies of the License of each of the miners.
CIS/KYC, Intermediary Fees… A GOLD does not pay any fee or sign any NCNDA with any Intermediary, Broker or whatever they want to call themselves for a referral to a Seller, and we highly recommend that your legal team secure any commission for your services to be agreed between you and the Seller with an Intermediary Master Fee Protection Agreement executed between you and the Seller, as you are entitled to payment for your valuable services, since without your referral, the Seller would have no one to buy their gold. Once this is done, please go through all the details in our website and ONLY if you agree 100% with the Procedures and Terms & Conditions, you can fully complete and submit the Client Information Sheet/Know Your Client (CIS/KYC), together with all the attachments required, and a Full Corporate Offer (FCO) only on the Seller’s letterhead, and not on any Intermediary or Mandate letterhead, as we do not deal with anyone other than the Seller direct.
Scammers… Unfortunately in Gold Trading, the industry is full of scammers, time wasters and individuals working via the internet from home trying to make a profit without even having any kind of connection or visit to the gold mines/producers/owners, and our time is as valuable as yours, so please do not send any further emails as they will not be answered, until we receive the CIS/KYC and FCO from the Seller, who should CC any Intermediary or Mandate or Third Party so we can also CC them our reply.
Our Procedures, Terms and Conditions… are very simple, very safe, risk free for both the Seller and the Buyer, and please, no time wasters or scammers should contact us other than real and legitimate gold Sellers that fully agree with the contents of this website, otherwise they can search for other Buyers since we know very well that they do have a choice.
We would like to emphasize once more that as soon as the gold is smelted and weighed in our premises or in one of our nominated refineries or smelting companies – in the presence of the Seller or just one of his representatives (as we have had cases where the Seller wanted to attend the refining/smelting process by as many as 12 people, which of course we could not accept due to our space limitation and our policies that only one person should be allowed to attend), then from that point on, we will store the gold in a seal box and the owner will never be allowed to touch the gold and in case the seal of the box has been tampered with by anyone, then we will need to redo the smelting and weighing.
Selling Gold to Buyers
We offer Bullion gold (Purity 99.5% or better certified only by a Dubai Good Delivery Refinery or a recognized International Bank, like Credit Suisse) for sale to any Buyer, and at any quantity. A GOLD has agreements with companies and high net worth individuals around the world to sell them our gold and if you are also interested to buy gold from us, we can sell you quantities of over 100Kg per shipment for +2% premium over the Spot price on the day of order/payment, or +3% premium for quantities less than 100Kg. Delivery can be arranged within 2 – 3 business banking days from receipt of payment.
You can find detailed procedures, terms and conditions in our website at the following link FCO_for_Buyers.doc
Intermediaries and Third Parties Other Than Sellers and Buyers
Please note that we only deal direct with Sellers and Buyers and never with Intermediaries or any other third entity who should make sure that their lawyer has prepared an agreement with their clients for their fees, and only then give their client the location of our website www.a-gold.ae so they can deal direct with us. So, please do not send any emails to us directly, as we will not reply to them unless you are the end Seller or Buyer and we have received your CIS information and the rest of the information that we are asking for in our website.
A Frequently Asked Question (more at www.ekagoldfzc.gold/faq)
When do I get paid for my gold and when transfer of ownership of the gold takes place?
We always pay within 3 Dubai business banking days after the smelting of the gold and after the assay by our nominated and fully licensed Assayer and final signature of the Final Commercial Invoice by the Buyer and Seller (or their authorized representatives in the SPA) and always only in the presence of one of the Buyer’s Bank officers.
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.