CLAUSE #3 – PROCEDURES
1. Seller Mandate issues FCO to the Buyer.
2. Buyer accepts FCO and returns the signed FCO with issuing LOI/RWA, CIS
document, Passport copy, Buyer’s Bank Officer(s) with reference number and Buyer
Code/Transaction Code and return it signed.
3. Seller issues a DRAFT SPA to the buyer and the details should be agreed upon by
both sides prior the TTM to be held in Switzerland.
4. Seller, Buyer and Intermediary all sign a MOU, which includes the full NCNDA and
IMFPA.
5. Lawyers will submit the MOU to the bank in order to set up a TTM meeting in the
Union Bank of Switzerland (UBS) at Switzerland. At the TTM in Switzerland, Seller’s
POP and Buyer’s POF will be exchanged.
6. Seller and Buyer will sign the sales and purchase agreement (SPA) at the TTM, and
shall lodge this contract to their respective banks’ officers. Seller’s and Buyer’s bank
officers shall jointly calculate the exact payment based on LBMA 2nd fixing of the
previous day. At this stage, the Seller shall also arrange and direct the bankers to