Terms and Conditions for the Transfer of Undocumented Gold from Africa to the United Arab Emirates
Agreement Overview:
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No Upfront Payment: No upfront payment is required in the country of origin from the buyer to the seller until the agreed quantity of gold arrives in the UAE.
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Notification of Arrival: The seller will inform the buyer upon the gold’s arrival in the UAE. Both parties will meet to finalize the details.
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Payment of 5%: The buyer must pay 5% of the total cost of the agreed quantity to the seller’s legal consultant in Dubai before accessing the gold.
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Clearance Costs: The 5% payment is used for clearing the gold Dore bars in the UAE.
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Guarantee Invoice: The seller’s legal consultant will issue a guarantee invoice for the 5% payment, which will be in the buyer’s or their company’s name.
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Gold Release: Upon confirmation of the 5% payment, the legal consultant will release the gold to the seller in the presence of the buyer.
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Assay and Certification: The gold will be moved to the buyer’s chosen office or refinery for assay and certification.
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Undocumented Gold: The agreement involves undocumented gold exported from Africa to the UAE.
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Documentation Assistance: The buyer may choose to hire the seller’s consultant for proper documentation of the gold, but this is optional and not the seller’s responsibility.
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Gold Purity: The gold may vary in terms of karats and purities.
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Acceptance of Terms: Both parties must agree to these terms before any meeting can be arranged.
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Irrevocable Agreement: This agreement is irrevocable.
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Freewill Agreement: This agreement is made freely by both parties, with full understanding and willingness to abide by it.
