Client # 1 has the following question:
For gold inspection, how can they assure the purity of the gold?
Usually, the client melts the gold and issues the ASSAY report. Payment is made after ASSAY report verification.
Although the original document states that the AU will be inspected at the sellers warehouse and charges will be paid by the buyer, the client wants a little more clarification on the process of inspection.
Client #2 has the following feedback:
The trading method the client is offering does not need to move the physical gold out of country, but transfer it to a safe at one of the top banks in Thailand.
After keeping in the safe or warehouse which is very well known in Thailand, the seller will issue the SKR (safe keeping receipt) and by with the SKR the bank will issue an MT760.
1. Issue the LOI (Letter of Intent)
2.TTM
3. Seller’s POP vs Buyer’s POF; exchange Seller's POP (Proof of product) against Buyer's POF (Proof of Funds)
4. Designate SKR issuing bank
5. Seller’s SKR bank issue SKR via SWIFT MT760
6. Buyer verify MT760
7. After successful verification of MT760, Buyer will start to release cash payment via wire transfer or MT103 within 10 to 15 banking days.
8. Payment will be conducted 20% in each tranche, and will be completed in 5 transaction.
This process will help the client avoid some complicated matters since this is not an exporting trade. They are willing to purchase 10 tons by using this process.