HOW IT WORKS

PREP WORK

Collateral Mgt Agreement

A Collateral Mgt Agreement is drafted and signed by the Seller, Buyer and Agent. The collateral is given as a Security against monies advanced by the Buyer to the Seller, to cover royalties, export costs and insurance fees. In the event of the Seller exporting as agreed in the SPA, the collateral becomes the ownership of the Buyer

A Sales Purchase Agreement

A Sales Purchase Agreement is drafted and signed by the Seller and Buyer

This process is a hands-on and the buyer or a represantive needs to be on the ground to oversee the process

The Buyer, (with his testers) are invited to the agent's office with the Seller to test the collateral. All methods of testing are permissible - acid, water density, black stone and drilling if bars are involved

After the collateral has been tested the Buyer will transfer funds for it. At this point the collateral comes under the Buyer's supervision, to store at a their location of choice, for the duration of the contract.

SECURE COLLATERAL

GROUND VISIT

CONTRACTS

EXPORT

The agent uses the money for the security to pay the Kenyan Revenue Authority (KRA), royalties, smelting and freight costs.

This process takes about 3 days

The consignment, the Buyer and Seller travel to the destination portThe consignment, the Buyer and Seller travel to the destination port

EXPORT

ADVANCE CLEARANCE

EXPORT DOCUMENTS

Once the paperwork is completed, the agent will provide the documents to the Buyer's consignee, allowing for speedy and trouble free clearance. Any issues can be flagged and rectified before departure.

Typically, the documents are sent 24hrs before the seller and Buyer depart.

PAYMENT

The consignee receives the goods and clears Customs. The Buyer will have pre-arranged for the consignment to be securely taken to the refinery for assay

The refinery accepts the consignment, which should have been pre-booked and conducts fire assay. This assay is final and binding on all parties.

The Buyer pays the Seller under the terms of the SPA. Once receipt of payment has been verified by the Seller, the Seller changes the Ownership Documents in favour of the Buyer

PAYMENT

ASSAY

CUSTOM CLEARANCE

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