1. Seller will issue Draft SPA and
Typical Manifest Showing Spread 2. Buyer completes SPA and returns
to Seller thereby accepting pricing, procedures and
spread. 3. Buyers Bankissue the BCL with ATV (Authority to Verify)
indicating that there is at least USD **4 **0 **0 (One Hundred and
Twenty Four Million United States Dollars) available for this
transaction. 4. HSBC Hong Kong (Sellers
Representatives) will perform Due Diligence on the ATV 5. Seller will complete SPA and
return to Buyer. 6. BUYER and SELLER will each lodge their
respective SPAs (Sales & Purchase Agreements) with their
respective Bank Officers within 2 (Two) banking days of signature
by both parties. 7. Seller will send buyer either a
Sodiam LDA POP or mine SKRs 8. Buyer verifies the POP and issues
MT**9 Committed Funds or MT**0 SBLC for one year and one day via
swift 9. The seller verifies the MT**9 or MT**0
SBLC *0. The parcel is handed to Brinks to
be transported to Brinks, final destination *1. The buyers gemmologist inspects
the parcel. Any variances are noted for discussion at
settlement *2. The representatives agree and
conclude TTM *3. Parcel is then sealed and
payment then effected to sellers nominated bank account *4. Once the funds are cleared into the sellers
account the parcel and documents are released under the control of
XXXX Ltd and / or the seller, to
the buyer. *5. Each parcel will be accompanied by a full
set of original documents, including but not limited
to:
3 x Commercial Invoices in favour of the
BUYER.
KPC Certification Documents.
Certificate of Origin
Certificate of Ownership
Declaration that the product is free and clear
and of non-criminal origin, unencumbered and free of any liens,
transferable and exportable.
Export Permit
Customs Declaration Form(s) provided by BUYER
(if applicable)
Gross and Net weight of the
Product.
*6. Once payment is effected and verified by the
Seller then ownership
of the product is transferred to the
Buyer. *7. Buyer and
Seller agents are paid.
