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SBLC

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:

  • Seller's company must pass DD to become our supplier.

 

Required Documentation:

  • Main Docs: Cert. Origin, Cert. Ownership, Export tax clearance at origin, bill of entry in UAE and commercial invoice.

  • Not all countries are accepted. Please ask before moving forward.

 

Banking Instrument:

  • *RGT issues banking instrument to guarantee shipment.

  • Initial maximum value: 500.000 USD.

  • Seller issues 2% Performance Bond.

 

Shipment:

  • Seller chooses his preferred transport means

  • UAE inland transport carried by transguard or Brinks to refinery/assayer.

 

Customs Clearance:

  • RGT clear customs trough Security Company

 

Refinery Assay:

  • First Class refinery.

  • Independent Assayer.

 

Payment:

  • Same day if assay and final commercial invoice are made on time, depending on shipment arrival time.

  • Next working day if assay is made after bank closing time.

 

Ownership:

  • Ownership remains seller's until payment is made.

 

Costs:

  • RGT pays everything from clearance to final Assay.
     

OECD Requirements:

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