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
endorse automatic payment orders of the commissions/intermediary fees to the
designated accounts according to the IMFPA within the same day.
7. Upon confirmation by the Seller’s Bank, the Seller will arrange the delivery of the
gold FOB at Switzerland, along with the Title ownership and associated documents
to be transferred, and the Buyer will transfer the full payment to the Seller
simultaneously.
8. Buyer will arrange their own transportation at their own cost, as it is a FOB
transaction.
9. Subsequent lifts hall be completed within three months of the date of the SPA
according to the same procedures.
10. This private off market offer will cause SELLER substantial banking charges hence
SELLER is extremely cautious to scrutinize and make sure it is an airtight contract to
ensure a successful transaction. Therefore it is mandatory that SELLER must
receive full documentation before submitting to the designated bank where the bank
legal department will register the contract number and appointing one senior bank
officer to be account officer to handle the transaction till completion.
Note: The Seller agrees that without consent of Buyer, the Seller cannot
contact the Buyer’s Bank Officier and vice versa. Any infringement shall
render this contract terminated automatically.
6. Seller and Buyer will sign the sales and purchase agreement (SPA) at the TTM, andshall lodge this contract to their respective banks’ officers. Seller’s and Buyer’s bankofficers shall jointly calculate the exact payment based on LBMA 2nd fixing of theprevious day. At this stage, the Seller shall also arrange and direct the bankers toendorse automatic payment orders of the commissions/intermediary fees to thedesignated accounts according to the IMFPA within the same day.7. Upon confirmation by the Seller’s Bank, the Seller will arrange the delivery of thegold FOB at Switzerland, along with the Title ownership and associated documentsto be transferred, and the Buyer will transfer the full payment to the Sellersimultaneously.8. Buyer will arrange their own transportation at their own cost, as it is a FOBtransaction.9. Subsequent lifts hall be completed within three months of the date of the SPAaccording to the same procedures.10. This private off market offer will cause SELLER substantial banking charges henceSELLER is extremely cautious to scrutinize and make sure it is an airtight contract toensure a successful transaction. Therefore it is mandatory that SELLER mustreceive full documentation before submitting to the designated bank where the banklegal department will register the contract number and appointing one senior bankofficer to be account officer to handle the transaction till completion.Note: The Seller agrees that without consent of Buyer, the Seller cannotcontact the Buyer’s Bank Officier and vice versa. Any infringement shallrender this contract terminated automatically.
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