Gold Bars Buying Procedures (Dubai, UAE)

We firstly require a FULL CORPORATE OFFER (FCO) from the Seller detailing requested Procedure, Terms and Conditions for their Gold Bar (AU Metal) supply and this should include all of the following information:

• COMMODITY: Gold Bars (AU Metal) Origin

• FORM: Bar size available

• PURITY: XX%

• QUANTITY: XX kg

• TRIAL TRANCHE: XX kg,

• DELIVERY: DAP to DXB Value Cargo Area or FOB Country of Origin per kg

• PRICE: LBMA with Discount XX% or Fixed Price

• CURRENCY: United States Dollars

• PAYMENT: Swift Bank to Bank wire transfer

• PACKAGING: International Standard Export Package Boxes.

TRANSACTION PROCEDURES

• Buyer and Seller will sign all initial documents such as the FCO and then the full SPA thereafter.

• Seller will then provide verifiable POP from their bank. Unverifiable SKR’s from non- registered Security Houses are not acceptable as POP if an instrument is being requested from Buyer. If no instrument is being requested, then no POP is required.

• Buyer will respond Bank to Bank on POF and any subsequent instrument.

• Seller will provide a 2% PB against any such instrument.

NB: We do not deal with 3rd Party Financiers

Seller will then provide Buyer with the following documents prior to product leaving country of origin:

• Proof of Ownership

• Certificate of Origin

• Tax Clearance Certificate

• Export Permit

• AWB Copy

• Commercial Invoices

Seller is responsible for freight, insurance and delivery up to destination airport.

Buyer is responsible for customs clearance, transportation and insurance from destination airport to Buyer refinery and all taxes, customs, security, assaying cost at Buyer refinery and logistics.

NOTES:

1. We do not provide POF prior to an acceptable POP.

2. We generally do not provide bank instruments such as SBLC to first time suppliers without first receiving and clearing a trial volume together.

3. We do not provide instruments without a 2% reciprocal PB from the Seller.

4. We do not issue airline tickets or meet hotel costs for representatives of the Seller.

5. We do not issue instruments to 3rd Party Financiers banks.

IMPORT PROCEDURES DXB AND REFINERY

PRE-ARRIVAL PROCEDURES

Before the shipment arrives in Dubai the Seller has notified the refinery of the impending shipment and supplied by Email the required documents.

PLEASE NOTE THAT ALL GOODS MUST BE DECLARED "VALUE CARGO" TO THE SHIPPING

AGENT AND AIRLINE OR “THE BUYER” WILL REJECT THE SHIPMENT.

Air Waybill if “THE BUYER” is the Nominated Importer:

Goods will be cleared through Transguard. It must state the following in the "Ship to” portion of the waybill EXACTLY to enable clearance at customs. If the address below is not included exactly as stated below the shipment may not be cleared and could be returned to the client.

“THE BUYER”

DUBAI SILICON OASIS, DUBAI, UAE - VIA TRANSGUARD

MIRSAL 2 CODE: AE -

IMPORTER CODE:

VAT REG: TRN

Commercial Invoice:

All shipments must contain the following information and 3 x copies must accompany the shipment.

• Ø Description of the contents (Bullion, Dore, etc.)

• Ø Net weight of the contents

• Ø Gross weight of the shipment

• Ø Value of the contents

• Ø Description of the container(s)

• Ø The Consigner and Consignee

• Ø UN Declaration as per the UN Security council resolution No # 1173, 1176 & 1306”

Certificate of Origin: Must travel with the shipment and be emailed to THE BUYER in advance.

UPON ARRIVAL AT THE AIRPORT FREEZONE

Dubai or Abu Dhabi Customs notifies Transguard and “THE BUYER” of the shipment arrival and processes paperwork for transfer to secure carrier (Delays at this stage are out of our control and usually result from incorrect paperwork from Seller or a request for assay confirmation before release). Armoured insured carrier transports material to refinery

UPON ARRIVAL AT THE REFINERY OR ASSAY CENTRE

• Ø We open and weigh the material upon receipt. THE BUYER’s Senior Representatives will be on-hand for this procedure and it is recommended the client or client representative are present as well. This process is under secure video at all times.

• Ø Material is melted, sampled and poured in to impure Dory bars and weighed for final settlement purposes

• Ø Client is given one sample to take to an outside lab and THE BUYER will retain two samples, one for assay and one held for any dispute resolution (i.e. Umpire Assay)

• Ø Refinery lab will then proceed with the bullion fire assay procedure as per LBMA/ASTM Standards

• Ø Within 1 working day we will report our assay to the client and ask for assay acceptance

• Ø If the Client accepts, we will proceed with refining the material

• Ø Settlement made directly to client