Collateral
Gold Purchase Process
1
Presentations, Due Dilligence, Negotiation and Contract Signature.
2
RGT issues banking instrument *
3
Shipment to Dubai refinery
4
Customs clearance
5
Assay
6
Same day Payment *
Requirements and information
Due dilligence:
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Seller's company must pass DD to become our supplier.
Required Documentation:
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Main Docs: Cert. Origin, Cert. Ownership, Export tax clearance at origin, bill of entry in UAE and commercial invoice.
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Not all countries are accepted. Please ask before moving forward.
Banking instrument:
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*RGT issues banking instrument to guarantee all costs of export from origin, costs of shipping back to origin and costs of importing if any.
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Seller can retrieve his gold at zero cost.
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Seller issues 2% Performance Bond of the value of instrument
Shipment:
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Shipment via BRINKS from origin to refinery in UAE.
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BRINKS is instructed to ship gold back to origin in case of payment default by RGT after 3 UAE days.
Customs Clearance:
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RGT makes clearance trough BRINKS
Refinery Assay:
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First Class refinery.
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Independent Assayer.
Payment:
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Same day if assay and final commercial invoice are made on time, depending on shipment arrival time.
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Next working day if assay is made after bank closing time.
Ownership:
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Ownership remains seller's until payment is made.
Costs:
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RGT pays everything from clearance to final Assay.
OECD Requirements: