Shipping documents
Today’s comment will be on shipping documents.
I got an introduction to a fresh deal today. I can not say that the seller is fraudulent. Actually you can not tell at an accuracy if the seller is fraudulent or not until it is too late.
Thus it is better not to do the deal or at least to minize the risk of loss as well as the loss itself.
The offer had a price that as such was acceptable also would the price be based on the weight of the gold bars and not the resulting bullion. The terms as such were also acceptable. The seller pays for all costs until the custom clearnace. Naturally the seller wants to have a representative present at the refinery.
The only twist in the offer was actually the request of a mere 4% for the shipping documents. the reason for the payment was to show the buyer’s capability. (We can challange that as the refineries always do a DD on the buyer. So there is no reason for the seller to question the integrity of the refinery.)
The shipping documents were as such very well named.
To the obvious risks involved then are just two. How will you know that the shipping documents are not fake or altered to suit the actual shipment and secondly what is actually shipped.
Will it be another load of colored lead, sand, iron bar, copper etc if the shipment arrives.
Honestly, I did not turn the offer down. I suggested the seller to open their own refinery account or alternatively to propose another method for the buyer to show his “capability”.
Today’s musical link is another Swedish entertainer MEJA and her hit All’bout the Money
