| Ad id number: | 159032 | | Action: | Sell | | Item: | GOLD DUST,BAR INGOT | | Category: | Other | | Price: | 18,000 USD | | Description: | SALE AND PURCHASE AGREEMENT This Agreement is for the Sale and Purchase
of GOLD (AU) Between Company SETHPORT CO LTD Address: BOX 19225 NII
BOIMAN GHANA Duly represented by: Mr Hayford Nyarko Passport: H1298234
Issued by: Ghana Emigration Department Phone: +233-242935092 Fax:
+233-21254614 Email ceosethportcomltd@yahoo.co.uk Hereinafter called
„the Seller” And Company: XXXXX Address: XXXXX Duly represented by:
XXXXX Passport: XXXXX Issued by: XXXXX Phone: XXXXX Fax: XXXXX Email
XXXXX Hereinafter called „the Buyer” With Company: XXXXX Address: XXXXX
Duly represented by: XXXXX Passport: XXXXX Issued by: XXXXX Phone: XXXXX
Fax: XXXXX Email XXXXX Hereinafter called „ the Operative Partner” With:
Company: xxxxx Address: xxxxx Duly represented by: xxxxx Passport: xxxxx
Issued by: xxxxx Phone: xxxxx Fax: xxxxx Email: xxxxx Whereas; The
Seller, under full authority and responsibility, declares that he has
the full capability and has the clear and qualified right to sell the
Raw Dust as per the specification provided herein in the form of Dust.
Whereas; The Buyer, under full corporate authority and responsibility,
declares that he has the full capability to purchase the Gold Dust,
refined and delivered, in the form of Gold bullion bars under the
following terms, conditions and specifications. Whereas the Seller and
the Buyer agree to honor this Agreement under the following terms and
conditions: ARTICLE 01: ORIGIN The origin of Gold Dust is from Ghana.
ARTICLE 02: QUALITY QUANTITY AND SPECIFICATIONS A) Commodity: Aurum
Utalium (AU) B) Form Gold Dust C) Quality: Purity: 92%+ (Ninety Two
Percent Plus).and 22+ Carats plus D) Origin: Ghana E) Total Quantity:
1,300 KG (One Thousand Three Hundred Kilogram) +/- 5 % (plus / minus
five per cent) with R F) First tranche 100 Kg (One Hundred Kilogram) +/-
5 % (plus / minus five percent). G) Next tranches 100 KG (One Hundred
Kilogram) monthly for 12 (twelve months) with roll & extension L) Assay:
Final assay to be made at the Buyers stated Refinery and the result of
value will be accepted both by the buyer and by the seller. M) Price:
USD$ 18,000/KG (Eighteen thousand Us Dollar per Kilogram) based on Final
Assay Report Certificate. N) Payment Terms: Payment will be carried out
on bank to bank basis, via swift, after the Final Assay Refinery Report
calculated on the result of the Final Assay Report Certificate issue by
the refinery O) Inspection In the refinery P) Purity & Carats: As per
final value after the final Assay report of the refinery. Q) Delivery:
As per agreement between Seller and Buyer. ARTICLE 03: PRODUCT PACKING
Gold dust will be delivered in the final destination of the Buyer on CIF
basis. Packing will be made in Metal box with safety locks. ARTICLE 04:
VALIDITY / DURATION After the first delivery this contract will be valid
for other two spot deliveries and after that for other 12 (Twelve) next
consecutive monthly deliveries, as per delivery schedule (Annex 1). It
will with be roll and extension up to 36 (thirty six) months. ARTICLE
05: DELIVERY To be agreed by Seller and Buyer ARTICLE 06: PRODUCT
DELIVERY a) The whole quantity sold by the Seller and purchased by the
Buyer of 1.300KG (One Thousand Three Hundred Kilogram) of the gold dust
shall be as follows: 1) The first tranche 100kg (One Hundred Kilogram),
as per clause 8.5.a); 2) The following next monthly tranches of 100 kg
(One Hundred Kilogram) per month for twelve (12) months, as per clause
8.5.b). b) The deliveries will be effected according to the enclosed
Annex 2), with R up to 36 (thirty six months) ARTICLE 07: DOCUMENTS 7.1
One set of the following documents consisting of three originals and
three non-negotiable copies will be furnished by the Seller: a)
Commercial invoice b) Certificate of Origin issued by the Country of
Origin c) Insurance Certificate d) Certificate of ownership; e) Seller's
Certificate stating that the Gold Dust is free and clear of all liens
and encumbrances and freely tradable and exportable and of non-criminal
origin. 7.2 For the quality / quantity control sees the clause 10)
ARTICLE 8: OBLIGATIONS OF BUYER - OBLIGATIONS OF SELLER 8.1 Buyer
irrevocably undertakes that the Raw Gold (Dust) remains the property of
Seller until Seller has received full payment of the price quoted under
Clause 11 point C). 8.2 Seller confirms that dust gold will arrive in
the Destination of buyer within 7 working days after official signing of
this purchase and sales agreement 8.5 As regards: a) The first delivery
of 100 Kg (One Hundred Kilogram): 1) Within 7 working days (168) hours
after the sign of the contract and after the issuing of the delivery
confirmation letter as per Annex 4) by the Seller, the Buyer will issue
a letter from Buyer Bank (Buyer Bank) the Payment Guarantee Letter, as
per text of the Annex 2), confirming the payment on behalf of the buyer
through the stated account at the Bank of the first delivery of 100 KG
(One Hundred Kilogram), in according to the delivery schedule as per
Annex 2). 2) After the receipt of the above Payment Guarantee Letter,
the Seller will deliver the quantity of 100 KG (One Hundred Kilogram) at
the Buyers stated destination within 7 working days after official
signing on this sales and purchases agreement confirming the delivery 3
(three) days before to the Buyer that will book the refinery processing.
d) the next monthly deliveries of 100KG (One Hundred Kilogram) with roll
and extension 1) After the issuing of the delivery confirmation letter
as per Annex 4) by the Seller, the Buyer will issue the Payment
Guarantee Letter within seven (7) banking days before the date of every
next delivery of 100 KG (One Hundred Kilogram) as per clause 2) point
I). 2) The next monthly deliveries of 100 KG (One Hundred Kilogram)
shall be effected on the first Monday of every month as per delivery
schedule (Annex 2) and the first delivery will be effected 7 working
days after official signing of the contract in according to the delivery
schedule as per Annex 2) 8.6) As regards the above terms for the
deliveries, the delay of one (1) working day, both for the buyer than
for the seller, can be accepted as tolerable delay and the delivery will
be consequently expected with one (1) day of delay and in this case the
delivery will be postponed of one (1) day. 8.7) Nevertheless if the
Buyer will issue the Payment Guarantee Letter with more of one (1) day
of delay or if the Seller deliver with more of one (1) day of delay,
without serious objective unsolvable reasons and without notice and
agree the other Party, the delivery will be postponed after that the
Seller and the Buyer will can agree a different solution in a written
format between them. ARTICLE 09: ASSIGNMENT The Buyer and the Seller
reserve the right to assign this Sales Contract, without the written
consent of the other Party. In the event of assignment, the Buyer or the
Seller shall obligate the Assignee to perform in accordance with all the
terms and conditions herein, ARTICLE 10: WEIGHT AND QUALITY The Seller
guarantees by his side that the sale of Gold Dust shall be provided with
an inspection of quantity and quality at the foundry proceeding to the
melt and sample of the gold dust at buyer's expense which shall be
deemed to be final and binding on both Parties. Seller and Buyer
instruct said authority to carry out the inspections. ARTICLE 11:
PRODUCT, QUANTITY AND PRICE Buyer and Seller agree to the following
quantity and price of payment: A) GROSS QUANTITY: 1.300 KG (one thousand
three hundred Kilogram) +/- 5 % (plus / minus five per cent) with R B)
NET QUANTITY: to be determined after the melt sample and assay
acceptance both by the Buyer and by the Seller of the gold dust. C)
PRICE: The Price payable by the Buyer is fixed in 18.000 USD/KG
(eighteen thousand US Dollars per kilogram) based on the quantity
determined by the Final Assay Report Certificate as per clause 2 point
I) ARTICLE 12: BANKING INFORMATION 12.1 Seller's Bank Information: Bank
Name Ecobank Ghana Limited Bank Address Abeka Lapaz Branch Account Name
Seth port company limited Account No. 0061846739101 SWIFT ACCWT Bank
Officer Ms.Joyce sadji Bank Phone & Fax +233-2176365,fax:+233-2186714 E
mail Jo_sadji@ecobankgh.com 12.2 Buyer's Bank Information: Bank Name
XXXXX Bank Address XXXX Account Name XXXX Account No. XXXX Branch code
XXXX SWIFT XXXX Bank Officer XXXX Bank Phone & Fax XXXX ARTICLE 13:
PROCEDURE a) After the sign of the contract and the receipt of the
Payment Guarantee Letter by the Buyer’s Bank as per clause 8.5.a.1), the
Seller will deliver the first tranche of 100KG (One Hundred Kilogram) of
Gold Dust to the destination of buyers stated Airport (Customs cleared
to the refinery of the buyer) b) After the receipt of the Payment
Guarantee Letter as per clause 8.5.b.1) the Seller begin to deliver the
monthly next quantity of 100KG (One Hundred Kilogram) for the period of
twelve (12) months of Gold Dust to the Buyer stated destination as per
clause 8.5.b.2), in according to the delivery schedule as per Annex 2);
c) The Gold Dust will be received by the refinery that issues to the
Seller a Safe Keeping Receipt (SKR). The Seller remains Owner of the
Dust until the full payment; d) Within one (1) working day after the
receipt and acceptance of the Gold Dust, the refinery issues the Final
Refinery's Assay Report certifying quantity and quality (principally
fineness and carats) of the Gold Dust and forwards it to the Seller and
to the Buyer; e) After the Final Assay Report Certificate, the Buyer
will pay the amount of weighted gold ingots resulting from the final
Assay Report Certificate in favor of the Seller's bank account to be
provided, by SWIFT WIRE TRANSFER within 24/48 (Twenty Four/Forty Eight)
hours since the date of the final Assay Report Certificate; f) Against
the above payment - on bank to bank basis - the Buyer shall have the
title of the ownership of the dust gold: g) After the successful
conclusion of the first delivery, the subsequent deliveries will proceed
with the next monthly deliveries - as per clause 8.5) point b), point c)
and point d) - following up the same above procedure as per the first
delivery; h) If the seller for the next deliveries will have any better
quantity for sale, he will propose it to the buyer that will accept it
at the same price, terms and conditions as per the present contract.
ARTICLE 14: PAYMENT a) The agreed purchase price is mutual prearranged
between the Buyer and the Seller in the amount of 18.000 USD/KG
(eighteen thousand US Dollars per kilogram) based on the quantity as per
the final Assay Report Certificated. b) The Buyer, will pay the amount
of weighted gold ingots resulting from the final Assay Report
Certificate in favor of the Seller's bank accounts to be provided, by
SWIFT WIRE TRANSFER within 24/48 (Twenty Four/Forty Eight) hours since
the issuing of the above Assay Certificate. c) Against the above payment
- on bank to bank basis - the Buyer shall have the title of the
ownership of the gold. d) The purchase price for the delivery shall be
due and payable in good cleared funds in the currency of the United
States of America (U.S. Dollars). . ARTICLE 16: TRANSPORTATION a) For
every deliver, the Seller will advise the Buyer of the departure and of
the arrival of the Gold Dust, in Buyer destination issuing three days
before of the delivery confirmation letter under the RWA Format as per
Annex 4). ARTICLE 17: INSURANCE In accordance with ICC rules and the
terms and conditions of this Agreement, insurance is for the Seller's
account and his sole responsibility. ARTICLE 18: FORCE MAJEURE Neither
party to this Agreement shall be held responsible for breach of
Agreement caused by an act of God insurrection, civil war, military
operations or local emergencies. The Parties do hereby accept the
international provision of `Force Majeure' as published by the
International Chamber of Commerce and as defined in the ICC rules.
ARTICLE 19: GOVERNING LAW AND AGREEMENT ARBITRATION The Parties hereby
agree to settle any dispute arising from or relating to this Agreement
amicably, failing which, the dispute shall be submitted to the
International Arbitration Court (IAC) of Geneva (Switzerland) and
according to its laws, for arbitration by a single arbitrator in
accordance with its rules of arbitration. The findings of the
arbitration shall be considered as final, irrevocable and binding upon
both Parties. ARTICLE 20: EXECUTION OF AGREEMENT Each of the Parties to
this Agreement represent that it has full legal authority to execute
this Agreement and that each party is bound by the terms and conditions
as set forth herein. Each Party agrees that the Agreement may be
executed simultaneously by and between the Parties via fax, each of
which shall be deemed as original nature. This Agreement represents the
entire undertaking between the Parties and any change will be made as
amendments in writing and executed by both Parties. ARTICLE 21:
CONFIDENTIALITY, NON DISCLOSURE AND NON-CIRCUMVENTION This product is
offered for sale subject to this Agreement terms and conditions.
Previous transactions, if any, between the Buyer and the Seller or their
Parties shall at no time reflect on the terms and conditions of this
Agreement and acceptance of the product by the Buyer shall be conclusive
evidence before any court of law or arbitration that these terms and
conditions apply. ARTICLE 22: SPECIAL CLAUSES If any provision of the
Agreement is held to be invalid, illegal or unenforceable, the validity,
and the enforceability of the remainder of this Agreement shall be in
force, as such provision was not part thereof. If any party to this
Agreement, other than the bank official representing the Buyer and the
Seller, should make unauthorized contact with the bank of the Seller or
the Buyer, such contact shall be considered interference with the
Agreement and shall constitute valid reason to terminate this Agreement.
The interfering party will be charged with the loss of profits in this
transaction by the injured party who will be entitled to file legal
proceedings against the interfering party at the International
Arbitration Court of Geneva (Switzerland) to recover determined losses.
ARTICLE 23: AGREEMENT SIGNATORIES In witness thereof the Parties have
signed below and by doing so have accepted and approved all terms and
conditions of this Agreement that includes 15 (fifteen) pages, 23
(Twenty Three) clauses and 5 (Five) Annex.. The Seller The Buyer Seth
port Co.Ltd XXXXX Place Place Represented by Represented by Title Title
Passport Passport Nationality Nationality Signature Signature On………..Day
of………….2009 On ……Day of…………2009 The Operative Partner XXXXX Place
Represented by Title Passport: Issued by: Signature On……….Day of……….2009
The Operative Associated Partner XXXXX Place Represented by Title
Passport Nationality Signature Date xxxx The Managing Partner XXXXX
Place Represented by Title Passport Nationality Signature Date xxxx
SHIPMENT N° APPROX. SAILING DATE (MONTH) QUANTITY OF SHIPMENT (*)
DESTINATION : BUYER STATED DESTINATION AND REFINERY TO BE AGREED BY BOTH
BUYER AND SELLER 1 XXXXX 100 Kg Destination of Buyer (Refinery to be
determine by buyer) 2 XXXXX 100 Kg Destination of Buyer (Refinery to be
determine by buyer) 3 XXXXX 100 Kg Destination of Buyer (Refinery to be
determine by buyer) 4 XXXXX 100 Kg Destination of Buyer (Refinery to be
determine by buyer) 5 XXXXX 100 Kg Destination of Buyer (Refinery to be
determine by buyer) 6 XXXXX 100 Kg Destination of Buyer (Refinery to be
determine by buyer) 7 XXXXX 100 Kg Destination of Buyer (Refinery to be
determine by buyer) 8 XXXXX 100 Kg Destination of Buyer (Refinery to be
determine by buyer) 9 XXXXX 100 Kg Destination of Buyer (Refinery to be
determine by buyer) 10 XXXXX 100 Kg Destination of Buyer (Refinery to be
determine by buyer) 11 XXXXX 100 Kg Destination of Buyer (Refinery to be
determine by buyer) 12 XXXXX 100 Kg Destination of Buyer (Refinery to be
determine by buyer) 13 XXXXX 100 Kg Destination of Buyer (Refinery to be
determine by buyer) Total quantity (+/- 5%) 1.300 KG With Roll &
Extension ANNEX No. 1 DELIVERY SCHEDULE * +/-5% (PLUS / MINUS FIVE PER
CENT) * THE DELIVERY WILL BE CIF Buyers stated destination- ACCORDING TO
INCOTERMS 2000 WITHIN 1) FIRST DELIVERY WITHIN 7 DAYS AFTER OFFICIAL
SIGNING OF THE CONTRACT 2) NEXT MONTHLY DELIVERIES AT THE FIRST MONDAY
OF EVERY MONTH. THE FIRST DELIVERY AT 0 7 DAYS AFTER OFFICIAL SIGNING OF
THE CONTRACT ACCORDING TO THE CLAUSE 8.5) OF THE CONTRACT. *** HOLIDAY
THE DATE ARE POSTICIPATED FOR HOLIDAY PERIOD IN THE DESTINATION COUNTRY
AND COUNTRY OF ORIGIN ANNEX 1 -Deleterious elements in refining material
In the following the most Common impiétés in rétinien material are
spécifie and limitas are formulâtes Bellow winch the material Is
acceptable Pithou additionna amonts bing charge to the supplier. Thèse
limitas are to bé considère as indiçâtes by the refiler and have to bé
réévaluâtes dépendions on the material and the procès of rétinien It Is
destine for: Class 1. Impérities, winch are hasardons to personale and
environnent. ELEMENT ACCEPTABLE LEVEL -Radioactive None -Mercurey (Hg)
None -Arsenic (As) Maximum 100 ppm -Cadmium (Cd) Maximum 100ppm -Class
l’: Impérities, winch Can distord the rétinien procès and as Wella
influence the environnemental. -Protection professes. ELEMENTS
ACCEPTABLE LEVELS -LEA (Pb) Maximum 3% -Tin (Sn) Maximum 500 ppm
-Sélénium (Se) Maximum 500 ppm. -Telepiù (Te) Maximum 500 ppm -Bismuth
(Bi) Maximum 100 ppm. -Antimonié (Sb) Maximum 100 ppm. There are ôter
éléments, winch May bé présent in rétinien material, That do not have
hasardons propretés or distord the procession signifiant if présent in
minora quantifies, but May distord sévère the homogénéisation and
shampoing due to the facto That the produc a havie ségrégation Wren the
métal solidifies. There éléments in particulaire are: -Iron. (Fe)
-Nickel (Ni) -Cobalt (Co) This List Is not représentative for the
material compositions and subjectif to ajustement by the refiler in case
of nécessita. In case the Gold supplie by the seller contadin impérities
That are Délaiterions to ôter Person or to the rétinien procès, the Buer
hall have the right to éther 1. Rejet the himent; all expansés incurve
by the buer in connexion witz the rejeté himent bing for the accons of
the seller, or 2. As for additionna payements frome the seller in ordre
to couver anya additionna cos That the Buer incus in connexion witz suc
Deleterious éléments. ANNEX 2 Standard procédure weighing, shampoing and
assaini. 1. WEIGHING AND SAMPLING 1.1 Jupon recepât of the himent at.
itsa prémisses the Refiler hall immédiate inspecta the boxes /
containers and acertaina the Gross Wight of the himent. 1.2 In case anya
of the boxes/containers arrive damage, or anya of the seaux on the
boxes/containers are broker, or total Gross Wight of the himent as
calculâtes by the Refiler différas by more thane 1(one) percent frome
the Gross Wight adise by the seller, the Renier hall immédiate informa
the Buer by télex fax of the entent of the damage to the
boxes/containers or to the seaux, as the case May bé and/or the
différence in the Gross Wight and requeté approuva to procède with the
weighing and the assai. Pendino approuva of the seller, the himent hall
bé sahel store in the valut of the Refiler. 1.3In case the himent
arrivas outwardly Sound and with a total Gross lithine the agrée
tolérance of one percent (%), the Refiler hall confirma recepât of the
himent to the Buer lithine one Business Day. No latter thane on the
second Business Day following recepât of the himent, the Refiler hall
Leigh the Dore Bars and compare the net Wight arrive at. with the net
Wight Gien by the seller. The Refiler hall use an électronique balance
shaving a tolérance of +/-1 gram. Incas of a différence of more thane
0.2%(twa tenta of one percent) Benwee net Wight of a Dore bar as
calculâtes by the Refiler and the net Wight adise by the seller, the
Refiler hall informa Buer by talera of suc différence without Delay and
requeté approuve to procède with the assai of suc Dore bar(s) usina the
net Wight arrive at. by the Refiler. Pendino approuva of the seller, the
dispute Dore (bars) and the parking material of suc Dore Bar(s) hall bé
sahel store in the valut of the Refiler. In case the net Wight arrive
at. by the Refiler Is lithine the agrée tolérance of 0.2 %( twa tenta of
one percent the Refileras Wight appli éd. 1.4 The seller undertakes to
informa the Buer of the actions chosent with respect to the himent or
dispute Dore Bar(s) for winch approuva hadj to bé requête as son as
possible and the seller undertakes to acta in accordance with the
instructions receviez frome seller as son as Is practice. 1.5One sampler
hall bé set abside by the Refiler for the Empire, soul the Empire bé
Nedjd. 2. REPRESENTATIVES 2.1 The seller hall have the right to appoint
at. itsa on expansés a représentative to supervise the weighing and
shampoing opérations. 2.2 The seller hall informa the Buer of the namas,
adressa, téléphone nimber and talera nimber of itsa représentatives and
of the autorité délégante to hima lattes Wren davisien a himent.
3ASSAYS, SPLITTING LIMITS AND UMPIRE 3.1 Assas of the samplers takin
hall bé carrier out with the correct fier assai méthode. 3.2 Différences
Benwee the seller résulta and the Refileras résulta hall bé setter in
the following manne: (i) if the différence Is écala or les thane +/-
0.3%(thrène hundredths of one percent)the assai résulta of the Refiler
hall bé takin as the agrée sottement assai; (ii)if the différence
excèdes the limita Under (i) éther the seller or Buer May requeté a
repesât assai; (iii)if the résulta obstine at. the occasion of the
repesât assai are stilb outsider the limitas Under(i) éther the seller
or Buer May requeté an Empire assai. In case of an Empire assai the
sampler réserve for This pur pose hall bé use. (iv)In the évent of an
Empire assai the sottement assai hall bé as folles; -if the Empires
assai résulta fulls Inside or outsider the résulta of the seller and
Refiler the assai résulta newar to the Empires résulta hall appli. -if
the Empires assai résulta Is the exact mena Benwee the seller and the
Refileras résulta the assai résulta of the Empire hall appli. The cos of
the Empire hall bé borne by the party chose résulta Is fureter Awa frome
the Empires résulta: if the Empire résulta Is the exact mena of the
résulta the exact mena of the résulta Is the exact mena of the résulta
of the seller and Refiler. The cos of the Empire hall bé split Benwee
seller and the Buer.. ANNEX 2 PAYMENT GUARANTEE LETTER FOR PAYMENT TO BE
ISSUE TO : To SETH PORT CO.LTD ACCRA-GHANA WEST AFRICA DD//MM//YY (D)
The Buying Company will make a commitment of 4% out of the total 12% tax
value. (E) TAX PAYABLE TO GHANA GOVERNMENT (BANK OF GHANA): Tax is
calculated by bank of Ghana as per the price at London Market Exchange
(LME), which is as below: LME price at time of calculation was 918.60USD
per Ounce. Therefore 918.60USD multiply by 32 gives 29,395.2USD per Kilo
(LME). .Now 29,395.2USD multiply by 100KGs gives 2,939520USD.Therefore
12% of 2,939520USD will be 352,742USD. .Therefore, the 4% commitment of
your company to help facilitate the shipment of the first trench will
amount to 117,581USD. (F) The 4% (117,581USD) paid by your company will
be deducted from the total cost of | | Name: | Sethport Co.Ltd | | Email: | Click here to email the person who posted this ad | | Phone: | 2330541095363 | | Address: | NB,600,NII BOI MAN, ACCRA, +233, Ghana | | Expires: | Feb 4, 2010 | | Picture: |  |
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