Our Gold Buying Process

  1. I am assisting my client to purchase Unprocessed Gold.
  2. We can purchase your Unprocessed Gold up to 500 Metric Tonnes every two weeks.
  3. We only buy Unprocessed Gold in the form of bullion, ingots bar or dôre bar, etc. 
  4. We do not buy Unprocessed Gold, in the form of granules or dust.
  5. We do not buy Processed Gold such as gold necklaces, gold earrings, gold bracelets, and/or gold chokers, etc.
  6. The Unprocessed Gold you will sell us, may either be Standard Unprocessed Gold or Non-Standard Unprocessed Gold. 
    1. Standard Unprocessed Gold means gold in the form of bars or ingots of at least 995/1000 purity.
      1. Standard Unprocessed Gold must have been refined by any refinery which is a member of LBMA. 
    2. Non-Standard Unprocessed Gold means gold in the form of bullion, bar or dôre bar of less than 995/1000 purity (except 995/1000 purity). 
      1. Non-Standard Unprocessed Gold might have been refined by any refinery in the World. 
  7. We only buy your Unprocessed Gold if it physically exists in Istanbul. In detail, 
    1. We do not make payment for gold that does not exist in a refinery in Istanbul or the Istanbul Gold Exchange. 
    2. Your Unprocessed Gold must physically exist on the table at the Istanbul Gold Exchange or at a refinery in Istanbul. Furthermore,
      1. We only pay for the Unprocessed Gold that physically exists in Istanbul Gold Exchange if the gold is Standard Unprocessed Gold. Or, 
      2. We only pay for the Unprocessed Gold that physically exists in a refinery in Istanbul if the gold is Non-Standard Unprocessed Gold. Also,
  8. Your Unprocessed Gold must have a Gold-karat certificate on it because we only pay for Unprocessed Gold, which has a Gold-karat certificate on it. In more detail,
    1. We need to get one more Gold-karat certificate from Istanbul for your Non-Standard Unprocessed Gold. Such additional Gold-karat certificate must have been issued by a refinery in Istanbul if the gold is Non-Standard Unprocessed Gold. On the other hand,
    2. Your Gold-karat certificate must have been issued by any refinery in the World which is a member of LBMA if the gold is Standard Unprocessed Gold. In this case, we do not need any additional Gold-karat certificate from Istanbul if your Gold-karat certificate for your Standard Unprocessed Gold belongs to the refinery, which is a member of LBMA.
  9. We only make the payment if you have the Gold-karat certificate on your Unprocessed Gold as mentioned above and if it does physically exist in Istanbul Gold Exchange or a refinery in Istanbul. 
    1. Right after we pay you the amount of your Unprocessed Gold, we then acquire the property rights of your Unprocessed Gold automatically, as per our gold sales and purchase agreement for over-the-counter transactions. 
    2. Once you decide to sell us your Unprocessed Gold as per the terms and conditions set forth above, I will send you a copy of such agreement. Consequently,
  10. To sell your Unprocessed Gold to us, you must bring your:
    1. Standard Unprocessed Gold to the Istanbul Gold Exchange,
    2. Non-Standard Unprocessed Gold to any refinery in Istanbul.
  11. Once you decide to bring your Unprocessed Gold to Istanbul to sell us, first of all, you should send me scanned copies of the documents below so that I can arrange a Customs Broker for your all Customs Clearance. You need then to send me the originals required via UPS or DHL to my office in Istanbul before shipment.
    1. the analysis report of your Unprocessed Gold, 
    2. Your company documents, 
    3. Certificate of Origin, 
    4. Gold-karat certificate, 
    5. My (this) Letter of Intent, signed and sealed,
    6. Our gold sales and purchase agreement for over-the-counter transactions, signed and sealed,
    7. Bill of Lading and 
    8. Your passports. After that,
  12. I will send you the invoice details so that you can issue an invoice to us since you must issue an invoice to us, to bring and enter your Unprocessed Gold into Turkey, as per the local regulations.
  13. According to the purity of your Unprocessed Gold, I will also arrange and appoint an available refinery in Istanbul or an available Gold Broker in Istanbul Gold Exchange, for analysis or check, depending on your arrival day and time. After you arrive at Istanbul Airport,
  14. You will finalize customs clearance as per the guidance of your Customs Broker and assistance.
  15. After the customs clearance, you will bring your Standard Unprocessed Gold to the Gold Exchange or Non-Standard Unprocessed Gold to the refinery. 
  16. Upon your request, we may also guide and assist you to transfer your Gold either to the Gold Exchange or Refinery, from the Istanbul Airport.
  17. You will bear all the costs until the Istanbul Airport, and we will cover the rest of the costs from the airport to the refinery or Istanbul Gold Stock Exchange, i.e taxes, state charges, the charges of the refinery, and the charges of the Istanbul Gold Exchange, etc.
  18. From the date of your arrival at the Istanbul Airport, we will pay you the amount of your Unprocessed Gold in cash in three to five days maximum. This payment will be made by us, right after the analysis report and Gold-karat certificate issued by a refinery in Istanbul, or control made by the experts in Istanbul Gold Stock Exchange. 
    1. Such a three to five days period will depend on the amount of your Unprocessed Gold, the workload of the refinery or the Istanbul Gold Exchange. Because such time is a requirement for operational requirements that might occur in the refinery or Istanbul Gold Exchange. 
  19. You will keep the property rights of your Unprocessed Gold until we pay you the amount of your Unprocessed Gold as per our gold sales and purchase agreement for over-the-counter transactions.
  20. Once we pay your money then the property rights of your Unprocessed Gold shall be transferred to us, automatically, by such gold sales and purchase agreement for over-the-counter transactions, between us.
    1. You are not allowed by law to keep your money earned from gold sales within Turkey. As per the regulations in Turkey, we are required to pay your money into your bank account held by a bank outside Turkey in order to close your Unprocessed Gold import transactions at Turkish customs. Your customs broker shall finalize the closing of your gold import transaction by submitting our payment slip issued by the bank to the Customs Office.
    2. We are not paying the banking fees or banking commissions while making your money transfers abroad.
  21. We neither make payment in advance nor give any bank guarantee in the absence of the physical Unprocessed Gold on the table, as described above.
  22. If you have any queries, please let me know. Otherwise, please sign and seal each page of this Letter of Intent and send it to me together with the documents listed in Article 11 above (first by an eMail and then by DHL or UPS). And then, let me know about your approximate arrival date. 

Updated on March 8, 2021 00:49 pm, Istanbul Time (GMT+3).

Our Letter of Intent

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