Please see the quote from our mandate regarding this gold here:
SOVEREIGN BULLION PORTFOLIO I am the Legal Mandate for a Sovereign Seller/Title Holder who holds title of ownership to considerable bullion assets in Hong Kong. I am also a lawyer by background and have extensive knowledge of the secondary bullion market. I am authorized to offer for sale the enclosed Sovereign bullion portfolio.
See Executive Summary (Second Quarter, 2017) (Available upon request)
==== What Buyers need to know is this:
1) The Seller holds title of ownership to one of the largest stockpiles of GLD standard bullion in all of Asia. We can supply “large tonnage” amounts of product with ease. And we can execute multiple contracts simultaneously. (Inventories are regularly replenished.)
2) This being Sovereign-owned bullion, the Chinese government has no jurisdiction over the product and, therefore, no say over the sale or export of the goods. Indeed, the export permits have already been issued; they will be listed in the contract and confirmed to qualified Buyers during the scheduled Bank Table Top Meeting.
3) Non-performance is not an option. The contract specifies a Two Percent (2%) penalty clause for non-performance – a $160 Million USD fine. More importantly, Hong Kong is a “tough-on-crime” jurisdiction that routinely locks up “non-performers” and throws away the key!
4) The Seller’s product is insured by Lloyd’s of London for its full LBMA market value. Which means, of course, that Lloyds has independently verified the GLD specifications of the Seller’s stock with regard to the weight, purity and volume of the goods.
5) We offer four (4) optional ways for Buyers to take delivery of the product. The Seller, for example, is willing to move the initial Lift amount to Metalor refinery, Hong Kong for a fresh GLD Certificate prior to purchase. We will even “vault” the goods with HSBC, Hong Kong, Main Office, if the Buyer prefers.
6) We offer seven (7) optional ways for Buyers to transact with the Seller on a “bank-to-bank” basis. For example, Buyers are welcome to utilize the Seller’s parent Bank, HSBC Bank, London, Head Office – a respected “top 25” world-ranked Bank and a recognized Bullion Bank in its own right – as their Payment Settlement Bank. Alternatively, Buyers may utilize any major Bank in Hong Kong for purposes of settling payment; the Seller will follow suit and open an account in the Buyer’s Bank to facilitate the “ledger-to-ledger” transfer of payment.
7) Finally, we will provide Buyers with “two-weeks” warehouse storage and insurance cover after purchase to allow the Buyer additional time to finalize his storage/lifting and insurance arrangements. And should a Buyer require assistance with uplifting the goods, we would be happy to introduce the Buyer to the senior Manager at Brinks, Hong Kong.
==== Here are the “stages” culminating in the final contract-signing:
1) Contract discussions
2) Agreement re terms of purchase (banking, contract amount, Lift size/frequency, etc.)
3) Exchange of “Letters Of Intent” confirming the proposed terms of purchase (subject to acceptance of final contract)
4) Contract preparation
5) Contract-signing by Buyer and Seller
==== If the Buyer is interested in proceeding and is able to observe the Seller’s procedures, the next step is to arrange an introduction for me with the Buyer or his legal mandate. We can proceed in one of two ways:
1) You can provide me with the coordinates for the Buyer or his legal mandate and I will contact him directly; or
2) We can conduct a group conference call together. You and your colleagues are welcome on the call. An NCND is available upon request.
==== I am available for a scheduled conference call Monday-Friday, 4 pm – 8 pm, London time. On the hour only. Callers from Asia/Pacific Rim countries only: Monday-Friday, 7 am or 8am, London time. Skype is preferred. It seems to consistently offers the best voice quality and is handy for messaging. Or I can provide a conference bridge line with international numbers, if necessary. English only. No Interpreters. Be punctual, please. Please ensure that the Buyer or legal mandate is on the call. Please finalize the time slot on your side first, then confirm the conference call time with me, preferably 12-24 hours in advance. I can then reserve the time to you, provided the time slot is still available.
==== Notice: This being Sovereign-owned bullion, there are controlling government Treaties that regulate the conduct of sale. These Sovereign agreements preclude the Seller from transacting with Buyers who are unable or unwilling to comply with the Seller’s terms and procedures. ==== Looking forward to a successful transaction With kind regards
NEW FOR 2018
So who is our target market?
Our target market is exclusively “high-value” Buyers – Governments, Banks, Multinationals, Institutional Investors, Ultra High-Net-Worth Individuals and the like – who have the financial capability to purchase a minimum Lift amount of 200 MT of product.
It’s a limited pool of potential Buyers, to be sure. But ours is the best offer on the market, hands down!
Importantly, Buyers must have the discipline and focus to undertake and complete a major, large-scale, bank-managed, government-affiliated, bullion transaction. And be able to do so in an orderly, timely and capable manner. For the smooth conduct of the transaction, we encourage Buyers to engage competent legal counsel.
A few additional points –
1) New for 2018 – We are rolling out a “new & improved” set of contracts and supporting documents for 2018, to include an Exhibits Form Book and a five-page “Confidential Information Sheet” intended to provide Buyers with an in-depth understanding of our bullion assets.
2) New for 2018 – Consultants, as a group, may, they wish, use the “sell-side” Paymaster as their Group Paymaster to receive and disburse their consultancy fees. The Paymaster’s bank accounts are conveniently located in HSBC, Hong Kong, Main Office, which keeps it simple and “in-house”.
3) New for 2018 – As everyone knows, the “sweet spot” for closing deals is working directly with the Buyer or his legal team. We will consider every transaction that comes our way, but PRIORITY will be given to those proposals that permit us, once Consultants’ fees have been confirmed and protected, to engage on a “one-on-one” basis with the Buyer or his Legal Counsel.
4) If you received an “advance copy” of the Executive Summary (First Quarter, 2018) PRIOR TO DECEMBER 22, 2017, would you please substitute the upcoming version for your previous copy. I made a few, (very) minor, cosmetic changes in the days leading up to that date .
5) We have sold down a substantial amount of product over the past three years. More importantly, we have closed every transaction that has gone into the Bank where the Buyer has adhered to the contract. I mention this not to brag; but to set the record straight.
As I explained, I am engaged full-time as Senior Director, Private Bullion Sales and Chief Contracts and Legal Specialist.
I am also a contracts lawyer by background and have an extensive knowledge of the secondary bullion market.
If you request you will receive our Seller’s formal Letter of Offer plus three (3) alternate draft SPA’s (format) for your reference.
1) The first contract assumes that the Buyer currently holds his purchase funds in Europe and intends, after the “bank-to-bank” POF/POP confirmation, to move his funds into HSBC Bank, London, Head Office in anticipation of blocking his funds prior to inspection/assay of the product and, thereafter, settling payment on a “ledger-to-ledger” basis within the Bank.
2) The second contract assumes that the Buyer currently holds his purchase funds in Europe and intends, after the “bank-to-bank” POF/POP confirmation, to move his funds into a major Bank in Hong Kong other than HSBC, Hong Kong. The Seller will follow suit and open a bank account in the Buyer’s Hong Kong Bank to facilitate the “ledger-to-ledger” transfer of payment upon closing.
3) The third contract assumes that the Buyer currently holds his purchase funds in HSBC, Hong Kong, Main Office which is the Seller’s Transacting Bank.
Please keep in mind the following –
1) The Buyer is welcome to use any major Bank in the world other than a Bank in the United States. The procedures, though, may vary depending on the precise location of the Buyer’s Bank. I can provide you with additional sample draft contracts upon request.
2) Western Buyers who prefer to maintain their purchase funds in Europe are welcome to use HSBC Bank, London, Headquarters as the Payment Settlement Bank. Similarly, Chinese Buyers who wish to maintain their funds in Mainland China may use Bank of China, Beijing as the Payment Settlement Bank.
Note: Where the Buyer’s Funds Confirming Bank is located in Hong Kong or Mainland China, the Proof of Product/Proof of Funds verification is confirmed via Secure Bank Facsimile. No SWIFT messages. The Buyer’s Bank Officer provides a Bank Tear Sheet via Bank-secure fax and receives from the Seller’s Bank Officer, in return, an authenticated copy of the Seller’s Custodial Safekeeping Receipt.
3) We are very organized and disciplined and can move speedily to contract-signing and closing.
Here are the “stages” culminating in the final contract-signing:
1) Contract discussions
2) Memorandum of Understanding re terms of purchase
3) Contract preparation
4) Contract-signing by Buyer and Seller
Additionally, in order to assist your due diligence efforts, I will also provide you, at the appropriate time, with a four-page “Confidential Information Sheet”. The document contains the Seller’s identity and passport information, as well as background information re the Seller and the Seller’s title to the assets.
The Confidential Information Sheet also includes additional “sensitive” information regarding the product inventory, the origin/provenance of the bullion, the name/title of the Seller’s Bank Officer, the location of the Seller’s secure storage facilities, the warehouse storage fees, the Metalor refinery assay option, shipping/logistics information, etc.
Rest assured, the Seller is a preferred customer of HSBC, Hong Kong and a “high-value” individual – someone who is actively involved in humanitarian and charitable pursuits in the Asia-Pacific region and is very checkable thru the major Banks and security firms.
If you request you can receive our Exhibits Form Book for your careful review.
David, thank you for allowing me to share this information with you.
I look forward to working closely with you on bullion transactions.
To receive the full offer(“Executive Summary”) please make your request here: (Note – if you are a broker, please submit a genealogy showing your position to the buyer. We only want principal buyers here)
Comments or questions are welcome.