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Lau Corporation is the new global gold trading and trading consortium. Our intention is to try our best and make the gold buying / selling system much more coherent and fluid to help the entire gold trading system and follow the new paradigm and global gold business movement.
Over the years, it seems to me that the precious metal trade was mainly involved by certain trading elites and, lately, gold trade with the new demand from China and Asia - many of the buying / selling process. and the transaction will have its new variety of forms distant from the traditional form of business.
It is our intention to make the entire gold trading system open and new - consistent with everyone and to encourage the gold trading activity to be available to all parties.
Brokers, of course, present a very important element of trading and, by the way of the LAUCORP consortium, these brokers can improve their trading skills and with the new gold trading options now in Asia, with LAUCORP instead of HK. and Macau as our headquarters. This will greatly facilitate current gold transactions.
We have every intention of making the gold trade fluid and simple - without the kind of commercial "elitism" and much more web and tangled legal words that were made to alienate others. Trade must be simplified and straightforward - This is one way, enriching trade with brokers and many rustic and simple miners - Wealth can be better distributed in the mass market and not just in the hands of some elites.
Now there are also two forms of gold trading. First, the traditional format that is generally followed as such that we call "Procedures":
1. Soft offer
Informal gold offer
(Seller)
2. The Letter of Intention
(Buyer)
3. The FCO
Full Corporate Offer
(Seller)
4. The POF
The Proof of Funds
(Buyer)
5. The POP
The proof of Products
(Seller)
6. The TTM
The Table Top Meeting
(Seller / Buyer)
7. Closure
(Seller / Buyer)
Each of these 7 procedures has its mini steps.
Often, these mini steps are required to ensure that all these mini steps lead to the performance of the next procedure. Ex: Even immediately after the first step - Soft Offer.
Now and now, we ask for the full identity of the parties involved: buy brokers, selling brokers or just the name and number of the passport. With a full description of the anticipation of a gold transaction.
A general account of the transaction, the status of gold - LBMA-Stamped Bars, non-LBMA age or bars, Dory or even gold dust
The Identity of the Seller / Buyer - Initially, by their Representatives / Brokers
The general gold discount agreement for the buyer and the commissions for buyers and sellers.
Estimated expected response after LOI - Letter of Intent
Estimate seller response with FCO
The Full Corporate Offer will be issued. FCO
If there is time for the duration of the offer - This should be well emphasized and should be pointed out.
Each procedure will be fully examined and you will see many smaller "steps" that cannot be omitted. In this case, the term (SKR) - or safe deposit of gold according to the procedure I have labeled POP - Product Flavor - should be further analyzed in each contract and proposal for a gold transaction.
In all party payment scheduling procedures, using the IMF, or at http://www.ncnda.org/imfpa.html
There will be this repeated NCNDA service for everyone.
In so many words, we will be dotting every "I" and crossing every "T". How to work with all legal documents, each case will be conducted accordingly.
Any new encounters or obstacles that will be presented in all transactions will be fully documented and the "solutions" or "resolutions" will be listed to make it more convenient for future transactions.
LAUCORP will have access to multiple languages for all the many citizens involved in this trade.
All members of the LAUCORP Consortium will have full access to corporate archives to make all business and commercial documents available.
It is our firm belief that trade in gold and other precious metals will be open to all and to enhance trade effectively and in accordance with our own core values and principles.
The next phase of LAUCORP will be involved with diamonds. We have the system in place called www.gemmfile.com to enhance the gold business and the future of diamonds.
The use of Escrow Service
We have also developed the gold trading option in the use of the Escrow Service. Many of us in the west use the common Escrow Service when some transactions require the use of a good lawyer to handle arbitration between two unknown or lesser known parties - We use this service when dealing with eBay ™ in the US and other countries. other sets of circumstances.
LAUCORP - Hong Kong headquarters will create this trading system using ES –Scrow Service. Where many of the steps and procedures in the gold trade can be easily solved by the ES system.
Firstly, with the ES system in mind, we are also encouraging all global trade exporters and importers to use HK as the most convenient port for this transaction due to international business centers like Hong Kong is known for its safety and security. Along with the low tax base, which is advantageous for everyone. In addition, in the uptrend and uptrend, and buyers today are from China.
When, all buyers / sellers will have your business registration in Hong Kong along with a bank account of your choice. (We will be encouraging all to place their own investment and time and come to see the setting in HK) When working with the Escrow Service -
They will be able to reduce much of their buying / selling procedures by exporting gold directly to themselves and at the same time all gold must be processed again (regardless of whether gold is LBMA, or gold not stamped with gold). regular gold bars, fish bars and nuggets - and potentially even gold sand), should all be processed in Hong Kong.
And buyers can get a hold of the minute goods are rehearsed from the refinery. It is also at this time that the Escrow Account will release all funds as stipulated by Buyer / Seller. All parties - Seller and buyer have hired brokers, the refinery,
Only this ES-Escrow Service system can be configured by LAUCORP and to represent its global partners from anywhere. With the clear record of your company in HK, your bank choice also in HK, with the designation of the movement of funds after sales. All added services may be done online and or physically in Hong Kong, based on SELLERS preference. All funds depositing in HK can be transferred immediately into all global accounts -- or of the seller’s choice.
This is the kind of business efficiency we want to create at LAUCORP and based in Hong Kong and Macau.
We rely on the commercial system with LAUCORP, the use of the traditional system or the Custody system will benefit us all.
Also feel to join us in using our system called www.myfirstpage.org to provide your clients and partners and to invite them to use the convenience of the system of MFP. As everyone will find the convenience and practical use of changing and adapting our web pages with ease along with the more dynamic usage of your own website/page. MFP - www.myfirstpage.org has been created to provide all participants with their entry into the gold trade.
Gold Transaction Protocol for Hong Kong Buyer One
1. NCNDA / Non-Contouring Documents Signed Between Intermediary Buyers and Sellers
2. POP / POF EXCHANGE:
The. POF is realized through an escrow account set up by the BUYER side at the minimum value of each installment per remittance. SELLER shall have examination access to BUYER's guarantee account with permission and agreement with the Guarantee Account Manager; and
B. The POP is prepared and examined "concurrently" with the detailed exchange of documentation supervised by the third party escrow account manager for Buyer's review.
W. A company in Hong Kong that meets Commercial Custody Accounts will be selected by Buyer to use as an impartial financial professional who would maintain and distribute funds in accordance with the Customer's instructions and set forth in a custody agreement.
POP Requirements:
d. The product must be at the destination port: the precious metals warehouse at Hong Kong International Airport (HKIAPMD)
located at HKIA Tower, 1 Sky Plaza Road Hong Kong International Airport.
and. Refining and Gold Analysis: Gold must be 100% refined and analyzed at Seller's expense. The designated refinery will be HKIAPMD (HK government approved) or other Buyer acceptable Hong Kong refinery.
B. Test report issued by Hong Kong refinery is acceptable to Buyer
W. All required legal documentation in # 12
4. Payment Method:
The. Payment between banks within 24 hours of the buyer's satisfaction and acceptance of the payment terms, as agreed and arranged in the buyer's guarantee account, to the seller; and
B. In addition, the Escrow Account Manager will be responsible for payments to Seller and disbursement to Intermediaries pursuant to the agreement agreed with the Intermediary of Buyer and Seller. (# 7a. # 7b.)
5. Insurance and Shipping Costs: Insurance and shipping costs for gold shipped to Hong Kong must be paid by Seller and reimbursed by Buyer with a limit (a reasonable amount) upon completion of the transaction and compliance with the conditions. , as described in item 3 above.
Quantity: Initial and a minimum of 20 MT per month up to 300 MT per month for 24 months, according to the conditions discussed.
6. Pricing:
Price is the quoted price on the day of the transaction, which will be the SKR date issued by HKIAPMD as defined by the second London Gold Market Fixing Limited (pm) fixation for Gold Bullion (AU)
7. Based on the information provided, the proposed discounts and advisory fees are as follows *:
* The defined percentage of both discount and commissions will change in each contract.
12% (12%) Gross with 9% (9%) discount to buyer
A. 1.5% (1.5%) to buyer side consultants to be paid by buyer
B. 1.5% (1.5%) for Seller's side consultants to be paid by Seller
8. Buyer Discount: Based on previous indications, Buyer Discount is 12% (12%) and Buyer's Side Intermediaries: Buyer must pay 1.5% Consultancy Fee (1.5%) %), as established in item 7a. For buyer side consultants. Accordingly;
9. Seller-Side Intermediaries: Seller must pay a consulting fee of 1.5% (1.5%) as set forth in Item 7b. For vendor side consultants.
10. The payment responsibilities of seller and buyer side consultants will be distributed as agreed on 7a. and 7b. through the Escrow Account Manager. (4b)
11. Anti-Money Laundering and Anti-Terrorism Provisions: The transaction is subject to compliance with anti-money laundering and anti-terrorism laws and regulations in Hong Kong.
12. Documentation Requirements:
Seller Identity Verification and Satisfactory Process Know Your Customer
Proof of Product and Certificate of Ownership
Gold Origin Certificate
Customs clearance documentation and taxation
Safe Maintenance Receipt (SKR) issued by HKIAPMD or agreed refinery
Test report issued by a Hong Kong refinery acceptable to Buyer; and
The fold documentation is free from any freely negotiable, exportable and non-criminal origin charges.
* The wording of these 12 points is the contribution of HLM HK's professional team partners - Mr. Clement Leung
We encourage all members of the LAUCORP Consortium feel free to add their comments and present to the group any suggestion of change, or better yet, your own successful format of gold operation.
All future members will be signing the general agreement along with the Consortium's code of ethics.
