Standard Operating Procedure for Gold Purchase (Ver: 5.0ei)

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1. We do not do spot sale; Minimum 12 months contract is must. 

2. LC/DLC/SBLC/BG/FD Lean ADVANCE is required to secure the contract. After securing, the payment must be made at the destination. Secured instrument or deposit will not be used for recovering payment unless buyer fails to pay after delivery.

3. Securing the contract will help us in two ways. First it is  asssurity a from the buyer that he will buy the meterial after delivery. Second is that , it is  assurity  based on which we will invest on behalf of our buyer. 

4. We ask for security for one third of monthly value. Once given, we will monetize it for 50%, It mean we will get apprx 15% to 17% from the buyer and remaining 85% we will invest to book the monthly import consignment. We need to book by paying 100%  to our importer.    

5. We maintain only bank-to-bank transaction for payments and BRINKS for the material delivery. 

6. We do not pick the material outside the safekeeping premises. The packaged boxes are opened by the buyer at his destination after delivery. 

7. We do not provide/share photos or videos of the material as they are always kept in safe custody. 

8. Our syndicate are the close business associates of these big brands. This consists of super stockholders who have the license to import the gold and safekeeping the same. 

9. We and neither any of our associates have the gold kept in private custody.  If you get any information indicating, we are involved in direct sale of the gold or commodity that come under strict regulation of the government please bring it into our notice to take further action. 

A. Buyer issues LOI, 

B. Seller issues the FCO after negotiation on payment terms and price.

C. Buyer accepts the FCO by seal and sign on FCO and sends it back.

D. Buyer issues ICPO (or PO if buying from Indian company) along with SBLC and LC verbiage or pre-advice and CIS (Customer Information Sheet).

E. Seller issues the sale and purchase agreement (SPA) after mutual Discussion.

F. The Buyer (first) and The Seller (second) will sign and seal the sale and purchase agreement. 

G. Seller sends the final copy to Buyer. Seller sends NC-NDA and IMFPA.

H. Seller replies to pre-advice with proof of product for MT799. POP (By the Seller) against POF (By the Buyer) concludes via bank-to-bank process.

I. Buyer issues MT760 and/or MT700. SBLC and LC Validity Should be for one year and one day.

J. Upon confirmation of issued instruments (SBLC and LC) at seller’s bank, seller initiates the shipment/delivery of the product as per SPA and schedule.

K. Buyer pays via MT103/TT/Wire-Transfer /RTGS at the destination after quality and purity check for the full quantity delivered.

L. Commissions shall be disposed to all the beneficiaries as added in IMFPA within 48 hours after seller receives the payment into his account.

I. Instead of bank instrument buyer can do advance RTGS.

II. Seller will issue the cheque for the amount equal to advance RTGS made, along with acknowledgement and bill for the same. 

III. Buyer can choose to let seller keep this advance as contract security and make 100% payment for the delivered quantity. In this case Instead of bank instrument this RTGS will be considered as contract security and will continue to deliver the material on standard process for the tenure of the contract 

a. BG can be accepted instead of LC/DLC/SBLC for the trial shipment (that is first one or two shipments)

b. After the trial order, for further shipment of consignments LC/SBLC/DLC has to be opened to secure the contract.

c. Note that face value of the BG must be double the value of the quantity being ordered for trial shipment.

d. Because BG is accepted only for the trial shipment, the buyer must initiate the LC/DLC/SBLC issuance procedure in parallel after signing SPA contract as mentioned in section "Procedure For Purchase" on this page

a. Buyer shall issue BCL/Blocked funds in the name of Jupiter or it’s associates.

b. Seller will deliver the 100KG material (not less than this)

c. Buyer will check/verify and clear full payment via RTGS/TT/Wire-Transfer

d. Above three steps are considered as trial. After this steps in section "Procedure for Purchase" should follow (Like LC/SBLC/BG etc)

• LC is accepted for the any quantity less than 800KG per month contract.

• If quantity is more than 800KG per month, then we accept only SBLC, and sellers bank would be non- Indian.

I. Proof of product (Like SKR etc.) is given to bank as part of reply to pre-advice MT799/MT705

II. If buyers want to see POF on documents, we welcome buyer to come for the face-to-face meeting where we can show the proof of product.

III. Proof of product will not be shared via any electronic media nor handed over.

IV. We do not work on “sighting” the product before payment/bank instrument approval.

• MOQ for contract is 500KG for India and 10MT anywhere else

• MSS (Minimum Shipment Size) is 100KG