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.
Once TS 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 meet Seller.
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 Transaction Sheet.
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 2012.
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 Tradelink:
"I need 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.
3. Buyer /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 our terms"
We look forward to hearing from you in due course.