I have a special arrangement with a Dubai refinery to pay the seller and intermediaries directly on my behalf upon completion of the assay in Dubai. The refinery will guarantee payment directly to the seller and intermediaries, eliminating the need for any bank instruments while fully protecting both the seller and intermediaries.
I will pay all expenses of clearing Dubai customs, transport from the Dubai airport to the refinery, melting, homogenizing, assaying, and refining the gold. It is the seller’s responsibility to get the gold to the Dubai airport, either by shipment directly to the refinery as “Value Cargo” or by hand carry.
The seller maintains title to the gold until payment is made. Intermediaries will be fully protected. The seller may accompany the gold to the refinery and observe the assay.
The following simple procedures will insure a safe and profitable transaction:
1. Seller fills out, signs, and returns the Letter of Intent, indicating quantities, seller’s asking price, and expected date of first shipment.
2. If the seller’s proposed terms are acceptable, I will send a Sale and Purchase Agreement (SPA) for the seller’s consideration, as well as an Irrevocable Master Fee Protection Agreement (IMFPA) to guarantee payment to the intermediaries.
3. Upon signing of the SPA and IMFPA, including the providing of a Certificate of Ownership by the seller, the seller will be able to verify the credibility of the refinery guaranteeing payment.
4. The refinery will provide a legally enforceable guarantee of payment according to the terms of the SPA and IMFPA.
5. With contracts in place protecting all parties, shipment can begin.