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PROCEDURE FOR 50KG MINIMUM BI-WEEKLY SUPPLY OF AU DUST:
First (1st) Step: The Buyer and Seller sign this contract in counterparts, simultaneously, and exchange it, via Fax or email. Seller and Buyer agree that the contract sent by fax or email is to be treated as original copies.
Second (2nd) Step: The Sellers banks swifts to the Buyers bank the following messages:
Are you in receipt of contract number xxxx between our client (Global Alliance Group) and your Client xxxxxx? We are prepared to forward the agreed 2% performance guarantee. Are you ready to issue an Irrevocable, Documentary Letter of Credit (DLC) in favor of my client Global Alliance Group?
- Upon receipt of the readiness SWIFT message via swift from the sellers Bank to the buyers Bank, the Buyers bank will then advice the Sellers Bank to issue the 2% performance gurantee in favor of the Buyer. A joint account between the seller and the buyer will be established in the refinery.
-Buyer will instruct his bank to issue the Documentary Letters of Credit covering all Gold Dust, to be delivered by the Seller to Buyers nominated destination, consigned to the order of xxxxxxxxxxxx.