Swiss Procedure

Swiss Procedure

1. The Seller issues a soft offer with complete procedures.
2. Upon review and acceptance of the soft offer, the Buyer requests the Seller to issue an FCO signed on the Seller's or Mandate's legal letterhead along with Mandate papers (if a Mandate is used).
3. Upon acceptance and verification of the Seller's information, the Buyer / Buyer's Mandate signs the FCO and submits a letter of intent signed on the Buyer's or Mandate's legal letterhead along with Mandate papers (if a Mandate is used) and a contract.
4. The Seller / Seller's Mandate responds with the signed and sealed contract with full banking coordinates, and an invitation for the Buyer's bullion officer to contact the Seller's bullion officer.
5. The Buyer / Buyer's Mandate signs the contract and accepts the invitation of the Seller's bullion officer, then sends a hard copy of the contract/agreement signed by both Buyer and Seller with full banking coordinates.
6. The Buyer's bullion officer initiates contact with the Seller's bullion officer by KTT.
7. The Seller's bullion officer, instructed by the Seller, verifies the Au metal, the quantity available, and discloses any and all liens and encumbrances attached to the metal.
8. Upon receipt of proof of the existence of the Au metal and the certificate of authority to sell, the Buyer instructs his bullion officer to confirm the availability of funds to be used as payment when the gold is delivered.
9. The Buyer and the Seller agree on a window time for exchange. Payment to the Seller is disbursed within 24 hours against the transfer of ownership of the metal.
10. Commissions / fees are paid upon closing each tranche to the parties stipulated in the contract, in the amounts shown.
11. All subsequent tranches close the tabletop as described above.

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