Our buyer is the largest gold buyer in the world and will readily contract to purchase the gold that any mine is planning to refine and deposit in the Kloten Depository, in Switzerland, with the understanding that the price, set by the LBMA on the date of payment will be discounted by a gross of 10%, with a net to the Buyer of 6%.
Our buyer will arrange for the seller to acquire a bullion account in the Kloten Depository and will pay for this gold, once it has been refined and delivered to the Kloten Depository.
They will pay for the refined gold, on a daily basis, the day following each day?s delivery, based on the second London ?fix? by the LBMA, on that day, less the agreed discount.
Our buyer will also honor the terms of the contract for as many years, as the seller continues to deliver the gold to Kloten.
All costs of transport to a Swiss refinery, refining, hallmarking, and GLD certification must be borne by the Seller.