Refined gold

Product Description

DESCRIPTION
Origin: Colombia
Ingot: 1 ingot = **1.8 troy ounces (*2.5kg)
Fineness: min. **0 - max. **5
Purity: *9.*5% to *9.*9% refined gold Analysis, smelting and laboratory certificates are made by the refinery chosen by the seller, complying with the specifications of London Bullion Market Association (LBMA).

Minimum quantity: 1 ingot.  **1,8 troy ounce (*2.5kg).  Each ingot comes stamped with the company seal, lot number, refinery seal, weight and purity information.
Maximum quantity: 8 ingots. ***5 troy ounces (**0kg) per month to start.  This quantity can be increased gradually, according to the terms of the negotiation. 

REGULATIONS FOR PURCHASE
The buyer must prove the full legality of its resources, as required by Information Services for Money Laundering and Terrorism Financing (SIPLA) and Alternative Systems of Remittance of Funds (SARF). These requirements are demanded by the banks in Colombia, the international reinsurers and the insurance companies.  We will ask for some extra documents to asure the legality of the origin of the funding.
Purchase and sale prices are based on London Bullion Market Association (LBMA) Gold Price London Fixing. The Cost, Insurance and Freight (CIF).

Without the fulfilment of these regulations, gold trading is not possible.

CONTRACT LENGHT
1 year minimum, renewable for another year at will of the parties, up to a maximum of three years.

PRICE
For CIF sale, troy ounce price is established according to the second round of the London Stock Exchange Once the product reaches destination.

 METHOD OF PAYMENT
Letter of credit, standby, confirmed revolving and irrevocable. Documentary at sight and partial shipments acceptance, issued by a top**5 bank with correspondent in Colombia or full responsibility banker's acceptance from the issuing bank that must fulfill the same requirements as the letter of credit.