SELL AND BUY AGREEMENT FOR PRECIOUS METALS
Transaction code (s): Seller: ______________Buyer: _____________
Quantity: ___ Metric tons
Quality: Good London Delivery bars (1 and 12.5 kilogram)
Delivery: Buyer’s Bullion Bank in Switzerland
Discount: _7_% Net based upon 2nd London Fix on day of acceptance by Buyer’s Bank.
Payment: Within 48 hours of acceptance by Buyer’s Bank to Seller’s Bank or designee
Fees: Mr. Mel Goldberg, Buyer’s Agent is paid by Buyer.
Lifts: To be determined between Buyer’s and Seller’s Bank(s)
We, (the Seller and Buyer), stand Ready, Willing and Able to complete this transaction per the International Bullion Procedures as follows:
We (Seller and Buyer) will not circumvent any agents to establish future
Gold transactions or enter into negotiation with any Seller or Buyer (or
their representatives), which has been disclosed within this transaction, to
avoid payment of fees. This will remain in affect for five (5) years from the
date this document is signed.
Agreed and Accepted:
Name Title Date
Agreed and Accepted:
Mel Goldberg Buyer’s Agent Date
Please read and understand the attached contract.
*We use this contract because it exactly follows International Bullion Procedures, Good London Delivery Procedure and Swiss Procedures.
*The contract can be lodged in any Prime Bank, London Bullion Market Association recognized refinery and all Bullion Banks.
*It does not favor either the Seller or the Buyer. It is very straight forward so nothing should be misunderstood.
*The Seller (or his representative) and the Buyer (or his representative) are identified. The Seller and Buyer will want to remain confidential.
*Transaction codes: Seller and Buyer (this is for identification purposes at the respective banks or refinery (s).
*Definition of the transaction:
What it’s for?—Gold.
How much gold (quantity)?
Good London Delivery Hallmarked bars (quality).
The end destination is the Buyer’s Bank where the bars are verified and accepted product, on behalf of the Buyer (delivery).
What the offered incentive is to buy (discount).
How quickly the gold will be paid for after acceptance by Buyer’s bank (within 48 hours).
Amount of product that can be moved (lifts) per day, week or month which will be determined by the Banks—not the Seller, not the Buyer and not the Brokers.
Both parties agree to complete the transaction as shown above.
Parties agree to agree.