FOB Buyer is
presently in Accra till close of business Friday 03 February.
First step is for your end Seller to complete
and sign Transaction Sheet (TS) and familiarize himself with Procedures
- both attached for your perusal.
completed and returned, Ajay Bhatt will verify and execute - thereafter
Seller will be put in touch with Buyer to arrange meeting.
The procedure on the ground is that Buyer will
only meet sellers at PMMC as he is does not have the time to travel to
However, it is possible that Buyer
will agree to meet Seller at his hotel in the evening.
Buyer will only
transact at PMMC on his own procedures as defined in the attached
End Seller will be
transacting with a Ghanaian Registered Company and not through PMMC.
PMMC is only used for assay purposes.
Buyer will accept quantities of gold from 10kg
and larger - to be increased as confidence levels improve.
Cut-off date to transact is Friday 03 February
FOB price: LBME less 20% net of
commission with payment at ICB Bank immediately after assay.
Below are standard
procedures for FOB at PMMC as issued by Mr. Bhatt of Worldwide
to stress on the steps once more so that we are all clear.
1. Seller brings the
gold to PMMC.
2. After assay gold stays in PMMC
in Seller's ownership and possession.
/Seller go to ICB Bank on second floor and the payment is made. For
small quantity in CASH and for larger quantity through the Bank in front
of the seller.
4. After the payment, Seller
signs over the gold to Buyer.
In regards to cash payment. We DO NOT carry
millions of dollars in CASH... as that is RISKY BUT you will be
satisfied by the bank that the payment is made.
As explained earlier, we need to complete the
negotiations with and come to an agreement (One page Transaction Sheet
to be signed by you, attached). Reason is My partner's job is to buy
physical gold and pay for it.. and my job is to negotiate and finalize
forward to hearing from you in due course.