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1. PROCEDURES AND TERMS OF PAYMENT a) The Seller and Buyer shall sign a Sales Purchase Agreement with the agreed terms and

conditions. b) The buyer shall travel to UGANDA to check the product and witness the Refinery test of

the product. c) If it be deemed necessary, the Seller shall assist the Buyer in obtaining a Uganda entry

Visa. d) The final testing of the goods shall be at the Buyer’s chosen refinery at the final

destination. e) The buyer shall make an initial/advance payment of 2% (calculated basing on the LBMA

value) to cater for the shipping charges, process legal export documentation and obtain an insurance policy cover for the goods. The buyer shall be provided with a collateral (gold) of a value equivalent to the advance payment and the collateral shall be safely stored under a Customs seal at a vault or with a licensed security company in Uganda. f) The seller shall process the required export documents for the product within 24 hours

upon receipt of the initial payment, book and make the shipment with Emirates Sky Cargo and shall arrange to travel with the buyer to Dubai within 72 hours to complete the transaction in Dubai after the final assay report from the buyer’s refinery. g) After receiving the final assay report from the buyer’s refinery confirming the purity of

the product, the buyer shall make a balance payment by BANK TELEGRAPHIC TRANSFER to the provided seller’s attorney’s account or by CASH. h) After the seller confirms receipt of payment, ownership of the product shall be conferred

upon the buyer. i)

The seller and the buyer agree that there will be a penalty of 5% if the purity of the product falls below the agreed 97.3% after testing at the final buyer’s refinery.

j)

The buyer reserves the right to reject and without written notice cancel the transaction should the gold finesse/purity registered after Final assay equal or fall below 90%.


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