CIF PROCEDUES PRIOR SHIPMENT
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1.) Seller sends FCO and Draft Contract to the buyer for Verification.

2. Buyers Receives FCO and Draft Contract, sign and sealed, then Forwards back to the Seller for verification before showing the signed documents to the Corporation Local Miners Store Keeper for the Release of the first tranche of Merchandise needed.

3.) Sellers side goes over signed contract and immediately forward the Gold Dore Bars, would be pre-Assayer by the Ministry of Scientific Research with a copy of the pre-Assayer Results issued out to be forwarded to the Buyers end as a Reference copy to their Buyers Gold Refinery. (Buyers end should note here that, the pre assayer carried out from our Government is necessary here even though we don’t have good technological Devises for such test. This is because we don’t even have a single refinery in our country to test out gold. So all this is done by our Ministry of mines department of Scientific Research and innovation)

4.) Upon receiving the Pre Assayer Test Results, Seller side would immediately get dated pictures with news paper covers of the gold dore bars to be shipped with Buyers names and address written
and placed inside the boxes of Gold.

(5) Ministry approves contract and authorizes the seller to go ahead with processing of the necessary documents for the gold and would as well forward the gold to the Ministry of Transport for shipment with the Seller paying for Government taxes, custom duties and documentation while the buyer side will pay for the cost of shipping directly to the freight forwarder (shipping company) for the gold to depart for the buyer’s destination.

(6) The Freight and Export agency gets in contact with buyer with all shipping Documents forwarded to the Buyer as well as the Air Way Bill (AWB) and TRACKING NUMBER for Easy tracking of the package so as to get the Precise date of arrival at Buyer’s Airport. (These shipping documents would be certified as well if needed hard copies by the buyer).

7) Gold Dore Bars shipped to buyer’s destination port accompanied by the sellers Agent.( The sellers Commercial agent would hold a copy of the Commercial Invoice to present to the Buyers end for the payments to be made after the Final Assayer report)

8) Gold Dore Bars Received by buyer in the presence of Sellers Agent.

9.) Buyers end upon receiving goods would take care of the import and custom duties at the level of the destination airport to their Gold Refinery. Refinery can also take care of import taxes. And refinery can pick up the gold from airport using their security transport, should in case buyer side is using but the refinery import license.

10.) Assayer of Gold Dore Bars carried out in the buyer’s refinery. Upon the completion of the the assayer, the Buyers end will transfer the funds (100% full payment for the gold) to the Seller’s account within 72 hours.

11.) Upon final confirmation of the first trance. The seller’s side would prepare the 2nd Trance immediately and would advice their commercial agent to present to the Buyers end a Joint Venture
Document (JV) for their JV project. (Please note that the Cameroon Government at this Juncture is mostly looking for JV deals for we need all the man power over there to exploit our Natural

Note : The validity of this offer is 5 days from dated herein and will be terminated sooner if non-compliance from the buyer)
The FCO shall become expired, null and void. No changes, alterations, or substitutions shall be permitted unless the same shall be notified in writing and signed by both