NON-GLD PRECIOUS METALS
FOB PROCEDURES (OR AS AGREED)
- Magister Operis authenticates seller(s) credibility/eligibly by gathering and packaging the pre-compliance items including attorney attestation.
- Buyer's chairman authorizes Magister Operis to disclose the identity of the buyer by sending an introductory email to seller so that the Seller can get familiar with the credibility and operations of the Buyer, its brochures, and its website.
- Magister Operis arranges a recorded video conference call(s) via Skype with Buyer and Seller and/or attorney so that all parties get to know each other in a face-to-face recorded manner.
- Parties meet face to face for due diligence and testing the metal as needed.
- The attorneys work together to professionally draft/craft a highly-controlled special purpose vehicle (SPV) between parties in which a detailed operating agreement tightly controls the roles of all parties and disbursal of all funds.
- Contracts are signed.
- Seller makes gold available for pickup by bonded courier such as Brinks, Malca Amit, G4S, Ferrari, etc.
- Bonded courier picks-up metal and delivers the metal to refinery located in Zurich.
- Refinery assays the metal and provides a certified report.
- Buyer transfers funds into SPV escrow account.
- Escrow agent disburses funds to Seller, insurance, shipping, and taxes as outlined within the SPV operating agreement.
- Ownership of the metal is transferred into the name of the Buyer.
CIF PROCEDURES (OR AS AGREED)
- Magister Operis authenticates Seller credibility/eligibly by gathering and packaging the pre-compliance items including attorney attestation.
- The foundation’s chairman authorizes Magister Operis to disclose the identity of the foundation by sending an introductory email to Seller so that Seller can get familiar with the credibility and operations of the foundation, its brochures, and its website.
- Magister Operis arranges a recorded video conference call(s) via Skype with foundation and Seller and/or attorney so all parties get to know each other in a face-to-face recorded manner.
- Parties meet face to face for due diligence and testing the metal as needed.
- The attorneys work together to professionally draft/craft SPA.
- SPA is signed.
- Buyer arranges an acceptable institutional Payment Guarantee as required.
- Seller delivers gold to refinery in Zurich.
- Refinery assays the metal and provides a certified report.
- Buyer transfers funds to Seller’s account based on the assay report and as per SPA.
- Ownership of the metal is transferred into the name of Buyer.
SELLERS THAT WANT A BUYER TO COME TO SELLER'S COUNTRY TO PURCHASE AND/OR EXPECTS BUYER TO PAY FOR ANY EXPENSES
Please be fully prepared to clearly provide/answer the following immediately to gain quick respect of real buyers, top World banks, as well as top international accounting and law firms as soon as possible:
- Why you are actually a real seller rather than a broker somehow?
- How long have you been a seller?
- What transactions have you done in the past? Why would anybody believe that?
- What banks know the strength of your business? Can you provide banking and/or attorney references?
- What law firm will attest to parties' identity, the authenticity of the gold, the history of the gold, and the funds used to pay for the gold?
Please outline the buyer’s exact comprehensive itinerary/timeline/location of exactly what/where the buyer will be doing while visiting your country to purchase the product.
If the buyer is expected to pay for things such as taxes, shipping, insurance, etc….be fully prepared to provide full contact info of the items the buyer is supposed to be paying. Buyer will not pay seller directly for expenses.
BANK INSTRUMENTS
The buyers' banks will only issue an Irrevocable NON-Transferrable Documentary Letter of Credit (IRDLC) or Standby Letter of Credit (SBLC).
PRECIOUS METALS, MONEY LAUNDERING, AND THE PATRIOT ACT
"Blood Gold" and "Dirty Gold" are two terms given to gold that has immoral and/or criminal history behind either it's origin or history since being mined. Here are just a sample of the numerous articles on the Internet that document these tragedies:
How Miami’s gold trade fuels drug trafficking in Latin America
How to Become an International Gold Smuggler
Most international buyers and sellers today have to be compliant with the standards of the Swiss-based Wolfsberg Group. Please study https://www.wolfsberg-principles.com/ for clarity.
Be RWA to show compliance documentation for your products!
The earlier…the better!
SPECIAL NOTE: UNLESS YOU HAVE MAGISTER OPERIS ON RETAINER,
PLEASE DO NOT ASK MAGISTER OPERIS TO EVEN TALK TO THE BUYERS ABOUT OFFERS
UNTIL A SELLER HAS PROVEN THEIR CREDIBILITY TO MAGISTER OPERIS!
Magister Operis Workflow: CLICK HERE
Sample gold transactions: CLICK HERE
Broker notes: CLICK HERE
Disclaimer: CLICK HERE