Seller(s) and Buyer(s) must understand and accept the following:
In the mineral sector, fraudulent activities have created a divide between buyers and sellers, making it difficult for honest transactions to take place. To ensure transparency and safety for all parties involved, we have developed a set of procedures that are non-negotiable. We appreciate your understanding that these procedures cannot be modified after negotiations with the supplier have taken place.
Please note that we do not work with the conditions, terms, and procedures of either buyers or sellers.
Our goal is to create a level playing field for all parties involved, so that sellers who work with us and buyers who come to us can do so with confidence. This is not intended to imply that any party is at fault, but rather to ensure fairness for all.
BEFORE STARTING A TRANSACTION
"To ensure a smooth and secure transaction process, we require all parties to complete and verify the necessary contracts and documentation before initiating transactions. This includes the signing of the Sales and Purchase Agreement (SPA) and Irrevocable Master Fee Protection Agreement (IMFPA), in which both must be recognized by a Notary of the High Court in the country of origin and registered with the Seller's bankers.
We will thoroughly review all documentation to ensure its authenticity and confirm the legitimacy of both parties involved. Once all necessary checks have been completed and the authenticity of the Buyer and Seller have been confirmed, the transaction can begin."
*- BUYERS do not travel to discuss Conditions, Terms, Procedures and sign “Sales and Purchase Agreements - (SPA)”.
*- BUYERS No visit to Mines/Storage, no Hotel meetings or going to Seller’s Offices, no Top Table Meeting.
*- BUYERS do not need invitations to travel, also are not accepted receptions on arrival at the airport in Africa.
*- BUYERS never send, gives in hand or deposit to the seller's account even $1USD in advance before final assay according to the payment model designated in the SPA
*- BUYERS / BUYERS REPRESENTATIVE when traveling to Africa, he/she only meet with Seller in premises of REFINERY.. or Shipping Company according to the approved procedure. This first meeting is only for a personal knowledge between parties and never a discussion about conditions, terms and procedures that are already approved in Sales and Purchase Agreement (SPA). Buyer will not leave the Refinery/Shipping Company facilities to accompany seller anywhere.
TRANSACTIONS in “FOB” or “CIF” condition.
Please Note the following:
It's common to hear discussions around FOB and CIF terms in international trade, but the definitions and responsibilities of each term are often misunderstood.
To clarify, CIF (Cost, Insurance & Freight) and FOB (Free On Board) are different mainly in terms of who takes responsibility for the goods during transit.
In CIF agreements, the seller is responsible for insurance and other costs associated with successful transit until the goods are received by the buyer. The seller must transport the goods to the nearest port, load them on a vessel or plane, and pay for the insurance and freight.
On the other hand, FOB agreements transfer responsibility for the goods from the seller to the buyer as soon as they are loaded on the transport vessel.
It's important to note that the FOB or CIF terms have no bearing on payment terms. Unfortunately, some people incorrectly assume that when the buyer pays the seller after the final assay in the country of destination, some sellers designate it as a CIF agreement. This is incorrect and can cause confusion and disputes. It's crucial to understand the proper definitions and responsibilities of these terms in order to conduct successful international trade transactions.
*- TRANSACTIONS can be made in “FOB” condition.
The Buyer is responsible for costs/liabilities once goods are shipped
*- BUYERS is responsible for all costs of shipping, export, insurance, documentation charges and all duties from "Country of Origin" to "Buyer's destination", as well as will also pay all duties taxes, customs clearance, VAT taxes in airport of destination and security transport from airport to the refinery.
In FOB condition two procedural versions are presented as follows:
1st Version: “BUYER/BUYER REPRESENTATIVE TRAVELS TO AFRICA”
In this version, we use two options, (option “A" and option “B")
Option “A” - BUYER TRAVEL TO AFRICA (Ghana – Tanzania – Uganda – Kenya)
PAYMENT AFTER TESTING AT LICENSED REFINERY IN AFRICA
BUYER shall make payment to the seller by wire Transfer T/T immediately after assay report from ___ refinery for all the quantity of the pure Gold 995/1000 return by the ___ refinery in ___. (Buyer’s Bank to Seller’s Bank only)
*- PAYMENTS - All payments are made through the Bank; wire transfer Buyer's Bank to Seller's Bank; never through Refineries accounts or within refineries facilities or others Companies.
- The only involvement of the Refineries for the transactions is just to ASSAY, SECURITY and SHIPPING the product to Buyer’s destination by instructions of the Buyer.
Exemplifying the procedures:
*- Once the Contract has been signed by Seller and Buyer, recognized, deposited in a bank along with IMFPA, confirmed in origin and all information, seller’s documents, seller’s references and buyer’s documents are verified by each of the parties,
- On the date to be designated in SPA Buyer/Buyer Representative meets with Seller at the Refinery facilities.
* Buyer/Buyer Representative and Seller only meet in premises of XXX REFINERY in xxx, no hotel meetings or going to seller's offices, no top table meeting. This first meeting is only for a personal knowledge between parties and never a discussion about conditions and terms that are already approved in SPA. Buyer will not leave the Refinery facilities to accompany seller anywhere.
- After both parties (Seller and Buyer Representative) meet at the refinery facilities, if they get to know each other, Seller communicates with his team to bring the gold to the Refinery.
- Gold is tested and immediately after testing, Buyer pays to Seller, Buyer's Bank to Seller's Bank.
- Seller confirms with his bank and after Seller having the confirmation from his bank that the funds are available, buyer will immediately take possession of the gold and change of ownership will be made in buyer’s favour.
Option “B” - BUYER TRAVEL TO AFRICA (Ghana – Tanzania – Uganda – Kenya)
PAYMENT AFTER FINAL ASSAY REPORT AT BUYER’S REFINERY
BUYER shall make payment to the seller by SWIFT/Telegraphic Transfer, within 48 to 72hrs after assay report from refinery for all the quantity of the pure Gold 995/1000 return by the refinery. (Buyer’s Bank to Seller’s Bank only)
Exemplifying the procedures:
*- Once the Contract has been signed by Seller and Buyer, recognized, deposited in a bank along with IMFPA, confirmed in origin and all information, seller’s documents, seller’s references and buyer’s documents are verified by each of the parties,
- On the date to be designated in SPA Buyer travels to Africa and meets with Seller at the designated Licensed Refinery.
- After both parties (Seller and Buyer) meet at the refinery facilities, get to know each other, Seller communicates with his team to bring the gold to the Refinery.
- Gold is tested and after tests, the Refinery or Shipping Company designated by Buyer proceeds to send the gold to Buyer’s Refinery in Dubai or ..., (Refinery that will be designated by the Buyer in SPA)
* Therefore the Buyer pays all expenses through the refinery or shipping company, all documents will be processed and gold ready to be exported..
- Seller travels together with gold to Dubai or ... and after final assay report at Buyer's Refinery, Buyer pays Seller, Buyer's Bank to Seller's Bank. Seller will watch everything.
2nd Version: “BUYER DOES NOT NEED TO TRAVEL TO AFRICA”
(Applicable to Kenya, Uganda, Tanzania and Mali)
In this version, the Buyer is represented by an Internationally Shipping Company that has facilities in the country of origin of the gold respecting all other rules of the previous version.
BUYER will pay for the cost of assay & testing fees and is responsible for all costs of shipping, export, insurance, documentation charges and all duties from Africa to Buyer's destination.
BUYER shall make payment to the seller by SWIFT/Telegraphic Transfer, within 48 to 72hrs after assay report from refinery for all the quantity of the pure Gold 995/1000 return by the refinery. (Buyer’s Bank to Seller’s Bank)
Seller and Buyer, both parties can verify through their lawyers the legitimacy of each of the parties and proceed to a totally secure, serious and transparent transaction, avoiding those who claim to be Sellers or Buyers, but in reality they are just time-wasters, curious.
The Buyer is represented by an Internationally Shipping Company that has facilities in the country of origin of the gold.
* (The Shipping Companies must have facilities in country of origin of gold and must be able to be contacted and verified outside of Africa, eg Dubai, USA, etc,)
Therefore, to ensure a smooth and secure transaction is required to be a reputable international Shipping Company that will be handling the transportation of the gold. This company must has facilities in the country of origin of the gold and is recognized globally for their expertise. Before the shipping process begins, if necessary, the Seller should verify the authenticity of the shipping company..
Note: I know that International Shipping Companies in Africa can be strict with their requirements of Sellers and most Sellers do not have all the documentation that this International Shipping Companies requires for pickup. So if the seller need the Buyer’s help to get International Shipping Company to do the pickup, sometimes, with the buyers global accounts in International Shipping Companies will go easier on Seller requirements.
As Warranties: BUYERS may request a POP video and proven track record of successful deliveries at any licensed refinery in Africa or preferably in Dubai that can be easily verified, But, they are also willing to issue POF via Shipping Company.
If necessary and if the Seller thinks it is relevant, a declaration of responsibility can be formalized to be established only between lawyers, (Buyer's lawyer and seller's lawyer) who will attach to the Sales and Purchase Agreement before initiating the transaction.
Exemplifying the procedures:
*- Once the Contract has been signed by Seller and Buyer, recognized, deposited in a bank along with IMFPA, confirmed in origin and all information, seller’s documents, seller’s references and buyer’s documents + copy of Buyer's agreement with Shipping Company is verified by each of the parties,
*- Seller in accordance with the date affixed in “SCHEDULE OF SHIPMENTS” delivered the full quantity of Gold Dore Bars (___Kg) to Shipping Company “XXX” accompanied by all the necessary documents for safe custody and export, which will include insurance with the Seller as beneficiary up to final payment receipt by Seller where after title will revert to Buyer.
*- Shipping Company issues an “SKR” and after Buyer receiving “SKR” issued by shipping company, the buyer proceeds to payment all export charges through the shipping company, with the seller’s help if necessary.
- Then the product is ready for export, being this whole operation aided and accompanied by Seller. Seller assumes no responsibility during shipping.
- After final assay report at Buyer’s Refinery, then Buyer pays the Seller, BUYER shall make payment to the seller by SWIFT/Telegraphic Transfer, within 48 to 72hrs after assay report from refinery for all the quantity of the pure Gold 995/1000 return by the refinery. (Buyer’s Bank to Seller’s Bank)
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Interested Buyers must register your order, please send us an email with the following information:
Your specific requirements, including product details, quantities, country of origin and the desired refinery to be used in Africa.
Your country for delivery.
Your preferred payment model.
By providing us with these details, we can ensure that we process your order as efficiently as possible. Once we receive your email, we will promptly reply with further instructions and any additional information you may need.
We look forward to hearing from you soon.
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To ensure a smooth and transparent transaction, we require the buyer or their representative to travel specifically for this purpose and provide proof of such travel after signing our contract."
info@mario-montez.com, own.geral@gmail.com,
mentioning all your details and what you would like to deal with.