Here in after referred to as the Seller
DESIGNATION - TITLE
TEL/ FAX No.
DESIGNATION - TITLE
TEL/ FAX No.
Here in after referred to as the Buyer
The Seller has at his free disposal GOLD in the form of Dore Gold Bars, hereinafter referred to as “Raw Gold”, which he is prepared to sell to the Buyer for refining.
The Buyer is entitled and willing to engage in a FOB TRANSACTION BUYING of Dore Bars into Seller’s Country purchase on a (12) twelve-month supply R&E.
NOW,THEREFORE: The Parties agree to the Terms and Conditions as follows:
Commodity: Aurum Utalium (AU)
Form: Gold Dore Bars
Gold Fineness/Purity: 96.5 %, 22 Ccarats
Quality: After Refinery process at Buyer expenses hallmarked gold quality Certification, purity 999.95 % or better
Weight: 1 Kg Bars & 5 Kg Bars
Origin: Rough product from mining operation of Ghana Gold Mines be
refined at Buyer´s expenses
Packing: In a strong Metal Safe box with Buyer’s company Name Attached
Shipping: Buyer concerned FOB transaction
Transaction: Open Market Private Sale (Not GLD System).
Agreement Duration: 24 months
Quantity: 8400 kg (Height Thousand Four Hundred)year or more with R&E
Delivery Schedule: First month, trial order of 10 to 100 kg per day AU or more every day,
agreed between buyer and seller for 12 months R&E
Delivery: DAP INCOTERMS 2010.
Price per KG $31,000 FOB
Commission: SELLER’S side: $1000 per kg, will be paid by the Seller and
BUYER’S side: 0% per kg will be paid by the Seller.
Product History: Clean, Clear, no liens and non-Criminal Origin
Terms: Exact quantity, quality, purity, and nature may be determined
and confirmed based on the Assay Report issued by final refinery
Currency: United States Dollars / US$ [USD]
Payment: 100% Swift Wire Transfer After assay report – SWIFT MT103 Bank
to Bank - (within max.3 banking days upon issuance of the Assay
Report) less the cost of shipment according the invoices from the
The Seller shall be responsible for the provision of any and all documents relating to the gold supplied and required for the export of the gold to the designated consignee of the Buyer.
To this end, the Seller shall upon the sealing of the assayed gold at GHANA GEOLOGICALSURVEY DEPARTMENT be responsible for the provision of all of but not limited to the following documents:
• Commercial Invoice from the Seller stating the value of thegoods
1 Buyer and Seller agreed to the terms and conditions set forth
2 Buyersignsthe SPA, and return itwith a copy of the Buyer’s Mandate passport
3 Seller and Buyer/Buyer’s Mandate arrange on a time and date to meet in Accra
4 Buyersends a copy of the Buyer’s Mandate air ticket to the Seller
5 Buyer/Buyer’s Mandate meet the Seller on arrival in Accra to discuss the time to meet at GHANA GEOLOGICALSURVEY DEPARTMENT
6 After the abovementioned meeting, Seller arranges for gold to bedelivered to GHANA GEOLOGICALSURVEY DEPARTMENT
7 Immediatelyafterassay at GHANA GEOLOGICALSURVEY DEPARTMENT, the Buyer pays via MT103 Or Cash
8 Once money reflects in Seller’sbankaccount, ownership of the productwillautomaticallybetransferred to the Buyer
9 Buyer’s Mandate thentakesownership of the product and to arrange for ALL export mattersincluding all documentation, all safetymeasures and all transport. Abovementionedcosts, as well as assay at GHANA GEOLOGICALSURVEY DEPARTMENT, willbe for the account of the Buyer.
PENALTY FOR DEFAULT:
a) The Seller further undertakes to reimburse the Buyer on demand all monies paid consequent upon this agreement plus a penalty of $10,000, should the Seller default in its obligation or warranties hereunder, particularly in the event that the export of the gold purchased is unsuccessful owing to the default of the Seller to provide proper, genuine, appropriate and sufficient documentation.
b) In the event that the Seller fulfils all its obligations and the Buyer defaults in its obligations or warranties hereunder, the Buyer undertakes to reimburse the Seller all sums spent pursuant to the fulfilment of its obligations under this agreement plus a penaltyof $10,000.
c) NOTE: THE GOLD DORE BARS REMAINS IN THE SELLER’S NAME AND POSSESSION UNTIL PAYMENT REFLECTS IN SELLER’S BANK ACCOUNT.
Buyer’s Mandate/Intermediaries, as well as Seller’s Mandate/Intermediaries, will not beheldresponsible for anyfinanciallosses (or damages) incurred by either Seller or Buyer - should one of these parties default on thiscontract.
BothBuyer and Seller to sign and acceptthis Agreement by close of business Tuesday23June 2019, and the Commencement Date of this Agreement shallbevalid for 5 workingdaysfrom the date of its signature by all the Parties hereto.
I, the Buyer/Buyer’s Mandate AYED KHELIL (copy of mandate letter to beattached to signedcontract) isReady, Willing and Able to buy and pay for the AU (Gold Bars) offered in this SPA whichisreturneddulysigned and sealed and accompaniedwith a copy of the Passport of the Buyer Mandate whowilltravel to Accra, Ghana.
BANKING COORDINATES SELLER
BANK OFFICER EMAIL
BANKING COORDINATES BUYER
Non-Disclosure and Non-Circumvention& Exclusivity Right.
1 The parties agree not to disclose the contents of this contract to any thirdParty.
2 Each party irrevocably agrees not to circumvent the other party by contacting third parties who have become known to them by the other party directly or indirectly and to immediately notify the other party should such an attempt be made.
VALIDITY OF DOCUMENTS
The parties acknowledge the legal validity of documents transmitted in the following ways:
b) Registered airmail or courier
The parties hereto shall not be held liable for any failure to perform under the "Force Majeure" clause as regulated by the International Chamber of Commerce, Paris - France
APPLICABLE LAW AND VENUE.
Governing Law: This Agreement is a legal agreement and subject to International Chamber ofCommerce (ICC) law. which shall be deemed to be executed in London, UK. If Collateral Provider has any questions or doubts, Collateral Provider is to contact Collateral Provider’s independent financial advisor prior to signing.