Procedure
The procedure for selling gold typically includes the following steps
1. Acquaintance the parties
And signing a non-disclosure agreement (NDA) to ensure the confidentiality of commercial information and personal data of the parties.
2. Provision of documents
The seller provides information about available gold, and the buyer confirms his financial ability to pay for the gold.
3. Contract signing
The parties agree on the terms, quantity, price and estimated delivery time of the gold, after which they form and sign a contract (SPA - Sales and Purchase Agreement).
4. Payment and guarantees
The buyer provides a payment obligation in the form of a documentary letter of credit (DLC MT 700) or a bank guarantee, and the seller may provide a performance bond to guarantee the execution of the contract.
5. Checking operations and carriage
The gold is usually checked for quality and weight at the factory or storage location before being shipped to the buyer. In some cases, the gold may be pre-processed by a specialized refining company.
6. Transfer of ownership and final payment
Once the quality of the gold is checked by the buyer or his representatives, ownership is transferred, and the buyer proceed to final payment to the seller.
The conditions and specific steps of the procedure may vary depending on the rules and standards applied by the region, legislation, or international authorities such as the World Gold Council (WGC) or specific Swiss Procedures.