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proof of funds
Volume: 250 MT in 50 weekly tranches of 5 MT per week,
Discount: 8% Gross and 6% Net against day quoting.
Seller4s offer to buyer are:
2% performance bond up to 100,000,000 US $ from seller
The gold ( bullion ) will be delivered CIF ( at buyer legal destination )
Payment terms : BC , stand by LC , or RLLC, or pre advised RDLC
Finally, allow me to state typical gold buying procedures:
1. Buyer issues a Letters of Intent (LOI) stating their desire to
purchase gold and Proof of Funds (POF) . That is the typical sequence.
They should be address to AZ Export/Import
2. Seller will provide an Full Corporate Offer (FCO) or
even a Draft Contract for review. Maybe both are sent at the same
time if the terms are discussed prior to the offer being issue. Save
3. Buyer signs the FCO and returns to Seller.
4. Seller issues Contract and returns to Seller.
5. Seller agrees and signs Contract.
6. Contract is sent to Buyer's & Seller's banks.
7. The Brokers step back and the deal moves forward.
Please let me know if any doubt remains.