FULL CORPORATE OFFER (FCO)

Date: August 23, 2010
Reference: AU (Gold Bar)

Seller’s representative do hereby issue this FCO to sale AU under the responsibility of Seller or Principle Seller with full responsibility and under penalty and confirm here by we are Ready, Willing and Able (RWA) to offer the AU (Gold Bar) for sale under these following Term and Conditions:-

1. Commodity: AU (Gold Bar)
2. Specification: Bar Form 1.0 Kg. & 12.5 Kg.
3. Fineness: 99.95% or Better
4. Hallmark: International Accepted
5. Age: More than 5 years ( guaranteed by Seller)
6. Documentation: – Commercial Invoice
- Certificate of Ownership
- Certificate of International Assay Reported
- Packing List
- Export Permit
7. Packing: 400 Kg./pack
8. Quantity: 920 Metric Tons with roll over and extensions.
9. Price: 13%-14% off LME price， depending upon the quantity
10. Delivery: FOB. Bangkok Thailand
11. First Trenches: 50 MT.
12. Subsequent Trenches: As Per Agreed
13. Proof of Funds (POF): Buyer is requested to submit the copy of bank
statement value, as least equivalent to AU amount 50 MT. to the Seller’s Representative. The fund required to be deposit in a Commercial Bank in Thailand and the said statement needs to be certificate by the deposited bank. Moreover, the fund is able to pay for the commodity for the first trenches.
14. Proof of Commodity: The amount of AU at least 400 kg. shall be shown as the
sample at the Bank in The TTM and the rest shall be in private warehouse.
15. Payment: Cash transfer or as agreed.
16. Insurance: Insurance shall be under the Buyer’s responsibility
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Procedures:
1. Seller’s representative issues the signed FCO to Buyer.
2. Buyer shall countersign the FCO and email back to the Seller’s representative along with LOI, copy of color passport and the POF.
3. Upon receiving the LOI and POF, the Seller shall verify the POF.
4. After satisfied POF verification, the Buyer shall be invited to have the Table Top Meeting (TTM) with the Seller/Seller’s mandate at Siam Commercial Bank
5. At least 400 Kg. of the AU shall be presented for verification at the Table Top Meeting.
6. The rest of the AU can be verified in the private warehouse.
7. After Satisfied AU verification and authentication, both parties (Buyer and Seller) sign the contract (Sales and Purchase agreement: SPA). Then the Buyer requires blocking the fund for the payment.
8. After the fund is blocked, then the Seller shall hand over all related documents except the certificate of ownership to the Buyer.
9. Then the Buyer immediately releases payment to the Sellers Account at the Commercial Bank at the same time as the Title and Ownership certificate is changed named from Seller to Buyer and Handed over to the Buyer.
10. The FOB Transaction of AU metal is complete. The Seller and the Commercial Bank assist the Buyer to lift the AU metal out of the Kingdom of Thailand.
11. Seller obligates to deliver commodity to buyer’s assigned destination in Thailand.
12. The Buyer shall submit the lifting scheduled to the Seller on the same day as the contract is signed.
13. Buyer obligates to bring his own assayer and inspector, and their passport are needed to submit to the Seller before verification and inspection.

Penalty Clause
Both parties agree and accept for a 2 % Penalty, if either Buyer or Seller failed to perform according to the signed agreement.

Taxed: All taxes, Levies, Fees, duties incurred inside Thailand for the execution of this AU Transaction shall be borne by Seller.

Max is 5000 MT
Min order is 2000kg

If you are interested please contact info@africabusiness.com with details “Sale 06/09/10: Gold bars”