Buyer #1 Procedures

• Submit an UFCO (Un-sanitized Full Corporate Offer) from the seller.

• UFCO will be reviewed and clarified by the buyer’s legal representative.

• Upon acceptance of UFCO by buyer, a conditional LOI will be issued subject to required documentation, sale and purchase agreements, and adjusted procedures, if necessary. 

• Proof of Product Letter or current bank statement received from the Seller Bank is REQUIRED. This Proof of Product Letter, or current bank account statement, must state that the commodity is legally obtained and titled and freely tradable, and free from any and all encumbrances, and currently on deposit in an international bank. A copy of this Proof of Product letter will be given to the buyer’s legal representative who will verify the contents of the Proof of Product Letter, or current bank statement, with the Seller’s Bank Officer per the Sale andPurchase Agreement to verify proper source identification.

• Once this confirmation process is completed, the Buyer Bank will enter into the transaction with the Seller’s Bank Bullion Officer with the full bank responsibility to provide proof of funds and proceed with the transaction to a formal contract closing.

•Our Buyer will not issue any form of ‘Proof of Funds” to any proposed Seller prior to Proof of Product confirmation, nor will they accept any lodging of contracts prior to satisfactory product verification.