BAY AREA BUSINESS CENTER GOLD

We put buyers with sellers of products around the world.

 

Note – Brokers can bring us deals, we have the buyers, but we require full contact information on the seller so the buyer can close the deal.  If the seller has a Corporate Profile we need that also. If we can’t deal direct, we pass and if seller does not accept our procedure, we also pass.  We always protect through an international paymaster and require genealogy and CIS from every person involved in making the introduction.

Business Rules for AU Purchasers and Sellers.

First, let’s put to rest many of the things that are incorrect, inaccurate and illegal about AU buying and selling.

The following information will give you a better insight into the actual conditions that are acceptable to the real traders and clients in this business as opposed to all of the nonsense that has been perpetrated by the brokers and others that simply do not understand this business.
The following corrections to items that are pervasive throughout the “brokers” network, continue to be included in Letters of Intent (LOI), have been incorrectly and or illegally applied to these transaction and cannot and or are never a part of a real agreement between the seller and the buyer: You must read all the way through if you want to be in this business and not get let astray by Broker BS

1. Mandate’s do not exist. First and foremost, the days of the buyer standing in the public square and dropping his pants while the seller hides in the dark and is “protected” by some broker that calls himself the “Mandate or Gate keeper” are gone from this business, never to return. They do not exist!
2. The LOI or LOR can never become a contract. This is contrary to contract law. This is an interest not a commitment. The seller and the buyer will always enter into an enforceable commercial contract/agreement. The LOI or LOR is just that, an expression of the buyer’s interest or intention. More than 99% of the time, the LOI or LOR is written by a broker, not by the seller and, for the most part, these brokers have just cut and pasted information that they obtained from other brokers. Thus all of the conflicts and errors in the LOI or LOR are copied and pass along from broker to broker, none of which ever make sense. This is why I do not want packages that were passed down from broker to broker
3. Banking coordinates are never conveyed through broker networks. These are very confidential and are not the business of the broker network. In fact, banking coordinates are never conveyed in an agreement. Banking coordinates are only conveyed principal to principal in a contract. Not to or through brokers. We only deal in the seller’s law office to buyers Law office to begin with.
4. The laws of perjury do not apply to any commercial document, or agreements. This is contrary to contract law and it is impossible for someone to perjure themselves in a letter of intent or interest. So don’t state something stupid.
5. There are no rules, regulations. Acts, ordinances or laws (including the US. Patriot Act of 2001) that require a buyer to produce a proof of financial capability (POF) prior to acquiring any AU or metals
6. There is no agency or department of the US Government that approves the private sale of AU or Metals and there is no department that issues a “fed number” for anything. This is all joker-broker nonsense. The KHMA in Hong Kong approves all transactions in HK and Singapore only
7. Banks do not endorse fee agreements, contracts or LOIs. This action would place a financial liability on the bank and they cannot and will not incur that liability on behalf of their depositors.
8. Banks do not take any responsibility, contracts or LOIs. This action would place a financial liability on the bank and they cannot and will not incur that liability on behalf of their depositors. They only take responsibility for the funds transfers…
9. Banks do not issue irrevocable conditional bank purchase orders (ICBPO), or any purchase orders, period. In fact, a bank is precluded from incurring any liability on behalf of a depositor. And, the words “irrevocable conditional” form an oxymoron. No western world bank will issue a MT543, as it is a liability on behalf of the bank. In fact, as of September 1, 2003, the MT543 is gone from the banking world.
10. Issuing banks do not enter into agreements to sell GOLD and the buyer’s banks do not enter into agreements to purchase GOLD. The agreement is always between the buyer and the seller. And no banker or securities officer is going to act on behalf of the buyer or seller until and unless there is an agreement in place.
11. Buyer’s confidential documents (passport, resolution and client information sheet, banking coordinates) are NEVER sent through the brokers’ network. This always results in the documents being shopped around the world. These documents are only sent on a principal to principal basis, period. Or Lawyer to Lawyer basis only.
12. There is no such thing as “due diligence” by some “agency” “Gate Keeper” “Broker” for any sale or purchase. The buy/sell transaction between private parties is private and does not require the approval of any governmental body or agency or anyone else.
13. As a result of the post-September 11 rules on wire transfers of funds, it is no longer possible for buyers to move cash funds in amounts over US$500M without the funds being stopped and investigated. Accordingly, offers that set forth tranches of $1b, $5b and more, are just pure nonsense. Funds must be in the bank transacting the sale and purchase
14. The ICC in Paris, France, is not an enforcement, adjudication or legislative body. They are simply an information body. And, they have never published anything on the subject of NCND. Accordingly, the ICC has no jurisdictional authority or standing in any commercial agreement.
15. Contract law sets forth that there cannot be any conflict of jurisdictional oversight to an agreement. Accordingly, an agreement cannot contain multiple jurisdictions as the controlling laws. Example: “this agreement is governed by the laws where the buyer and the seller reside and the ICC. Paris, France”. Or “this agreement is governed by the laws of the USA, UK, Hong Kong, Switzerland and Germany” were written by someone that know nothing about the law, period.
16. Bank guarantees are never on any screen (DTC or Euroclear) for screening, authentication or settlement. All BGs must be transacted via standard non-Euroclear DVP protocol settlement procedures. Banker to Banker is preferred.
17. MT100 and MT103 are conditional swift transfers of cash funds. The MT100 has not been used for more than two years. The MT103 is the current method of sending a conditional swift transfer of cash funds. However, the MT103 is only used for fresh cut (new issue), funds first transactions and never for seasoned paper or a DVP settlement transaction.
18. MT543 is a bank commitment or undertaking and is not issued by any US. Bank and is not issued by most western European banks. Banks do not make commitments or undertakings on behalf of their depositors. If they were to do so, this would cause the bank to move liquid assets to the liability section of the balance sheet and bank simply will not do this. MT543s have been cancelled by the banking authorities and after September 1, 2003, are no longer used in the banking world.
19. MT760 is not a proof of funds, blocking of funds, and movement of funds or settlement of documents. It only has one purpose. Its purpose is for the actual movement of the bank guarantee (not MTNs or bonds, or cash) from the seller’s bank officer to the buyer’s bank officer.
20. MT799 is a simple text message, sent bank to bank. In this business, this is used for a bank to bank proof of funds, only. The MT799 is not a form of payment and it is not a bank undertaking or promise to pay. It is simply a bank to bank confirmation of the funds on deposit, nothing more. And, all of these joker-brokers that modify the MT799 to make it look like a bank undertaking are just kidding themselves.
21. A fee protection agreement that states “to be determined” or “to be nominated” as the name of the paymaster for either the buyer’s side or the seller’s side is absolutely worthless. No prudent business person will issue a blank document. And, if you do not know the name of the seller’s side paymaster, then you do not have a valid offer and you do not have any way of delivering the Ready Willing and Able (RWA) letter to the seller.
22. There is no such thing as the “gray screen”. This is just joker-broker nonsense.
23. There is no such thing as a “fed id” approving the acquisition of AU. This is just joker-broker nonsense.
24. There is no such thing as a “fed pool” for AU. This is just joker-broker nonsense.
25. Commissions are now 2% max for both sides in HK as per the HKMA “The Hong Kong Monetary Authority”. The Director is Mr. Norman Chan and you are welcome to call him directly for any questions. The rules were passed and made effective October 14, 2011. They affect Hong Kong and Singapore only
26. The Buyer never ever comes out first as that would be “solicitation”, when you deal with
    a Licensed Authority, you must follow the rules of that Authority. That is true by the LBMA who licenses the buyer and HKMA who licenses the buying and selling of gold in Asia through HK and Singapore!
27. We do not sign or request an FCO anymore. After receipt if the SCO is reasonable we will Request the seller law firm information and give the buyers lawyers contact detail and request the sellers Lawyer to contact the buyers lawyer to verify the buyer and sellers ability, and set up an appointment for a TTM at the sellers Law office in the country of sale. An Invitation to a TTM it is addressed to the Buyers law firm issued to the buyers law firm and signed by the Registered
    Owner of Record of the product (Owner) on his letter headed paper giving his name, address, telephone number and email address to include the quantity of product offered for sale, the exact location of the product in such as Bonded Warehouse, Private Warehouse or Bank Vault with a date of meeting at least a week in advance, at the Owner’s Lawyer’s office where it is a criminal
    offense to agree verbally or in writing to do something and fail to do it afterwards.
    When the Owner is ready to issue an Invitation, please inform me with the sellers Law firm and contact and I will supply the Buyer’s law firm’s information for the issuance of the Invitation.
28. Due to so much fraudulent activity in the gold markets, our buyer now requests serial numbers for 5 gold bars that can be verified with LBMA or we pass.  All of the other statements above will mean nothing without these serial numbers. 

INTERNATIONAL CHAMBER OF COMMERCE (ICC) WARNING

This is a very important message for anyone involved in the commodity industry on further action with regard to buyers and sellers who transact. From now on, if an ICPO, LOI, RWA or BCL is issued and the document is not real, true and / or reality of verifiable fact, the seller may inform the FBI, ICC and Interpol. Also, after an FCO is sent to the buyer, there must be a formal response to the seller to the buyer at the right time, in accordance with the agreement between the parties. If no response from the buyer at the right time, the buyer will be reported to the FBI, Interpol ICC. If this action is repeated by the buyers, will also be informed also by the abuse of NCND, LOI, ICPO and BCL or RWA, FOR THIS IS A FEDERAL CRIME.

It is important to convey this to all customers working with suppliers who are members of the International Criminal Court, the FBI and other international organizations. From this point on, the international codes will be strictly enforced to exclude all intruders who post or transmit false information. Those who make a false NCND / IMFPA, LOI, ICPO, BCL or RWA, or FCO, as well as false proof of product (POP), FALSE PROOF OF FUNDS (POF) WILL BE CHARGED WITH A CRIME.

This crime came into force on November 15, 2008, after a meeting between the Federal Reserve, European Central Bank, Interpol, the Federal Bureau of Investigation and the Central Intelligence Agency.

The reason for this measure is to protect the commodity industry, which is a fundamental part of the global economy.

(Note of Warning – we do not deal with long broker chains, only real buyers or sellers.  If you are the mandate, not the  facilitator, we can deal with you.  Also be further warned that we do no business with brokers.  Our buyers will not deal with brokers or broker chains.  If you are a broker then you are on the seller side.  When you come to us you must either be direct to the seller or be paid by the seller with your fee protection from them.  We have had too many brokers that send us deals and then want not only to be paid on the buyer side when the buyer does not know them, but they also think that they can dictate what the buyer will pay.  From now on, when you come to us, you are on the seller side and we are on the buyer side.  Our buyer protects us and your seller must protect you.  If this is not the case with you then we don’t want the business.  PLEASE DO NOT WASTE OUR TIME WITH BROKER BINGO AND BROKER CHAINS.)

OUR POLICY FOR BUYING GOLD DUST IN A NUTSHELL

1. We have several direct buyers, one owns a gold jewelry manufacturing business, the other has been buying gold dust for 20 years.
2. All buyers require a small shipment to their refinery at the owner’s expense.
3. Gold will always remain as owned by the title holder, the seller, during shipment, and at the refinery so there is no risk to the seller since the gold is still owned by the seller as he has title to the gold.
4. LBMA regulations require title to remain in the name of the owner until title is transferred by way of payment either by a buyer or the refinery.
5. Refinery will only take possession of the title to the gold after refining, price fixing by LBMA, and wire transfer to the seller/previous title owner.
6. This is standard procedure for all our buyers and refineries.

GOLD BULLION

Gold to Currency Calculator