Bank to Bank
As some of you have noticed I offer the seller’s to sell to a bank on a bank to bank process.
Bank to bank does not only mean that the bank will pay to your bank account.
There is much more to this.
The buying bank will correspond with the seller’s bank. In order to that there has to be a substanciated offer in the sense that the seller has prepared an FCO that can be negotiated with the seller’s bank. Thus there has to be a specified person the the buying bank will contact.
One of the first questions the buying bank will ask is “Can you confirm that you have the seller’s gold?”. This after that the seller’s details have been reconfirmed.
The seller should have a got an SKR for the gold he is selling. Otherwise he can not leave the gold with the bank. Thus an SKR from a security house is not acceptable as the security house is not a bank.
Some of you are asking for a BG, MT799, SBLC or simlar bank instrument. In ordinary cases this is a document issued by a bank to another bank stating that they will pay if some condtions are fulfilled as a paperwork presented to the bank. The seller’s bank can then either accept this statement from the buyer’s bank or ask another bank to accept to accept the statement of the buyer’s bank to pay against the very same documents.
So when the buyer is a bank there will be only be a statement that they will pay against certain specified documents given to the seller’s bank. Again it is the seller’s bank to accept this statement. The statement will be given using the SWIFT system so both the seller’s bank and the buying bank knows who they are given their messages.
So when I ask you if you are ready and prepared to sell to a buying bank. Please use this knowledge before you answer yes.
Then we have the first question at all “Who is this entity offering us to buy gold?”. Together with the FCO latest the seller has to give their CIS and their passport copy. As you understand there are no possibilities to sell without having correct documents and passport.
Please enjoy today’s tune. Our biggest concern in life, or? You do not have to fraud to get it!
By the way, from Sweden
