HuiRen International provides you with a professional, secure, and transparent standardized gold procurement process. This process aims to connect high-quality clients from Mainland China with compliant gold refineries in Mali, Africa, ensuring the safety and smoothness of each transaction through structured agreements and bank escrow payments.
Detailed Procurement Process Steps:
1. Submission of Intent and Document Review
Please submit a procurement Letter of Intent to HuiRen International via email at info@huiren.hk, clearly stating your identity, company background, and specific procurement requirements. The Letter of Intent must be accompanied by a valid Business License and other relevant qualification documents to initiate the review process.
2. Supplier Know Your Customer Verification
Upon receiving your Letter of Intent and documents, the African Mali seller will conduct Know Your Customer verification on you and your company in accordance with international compliance standards.
3. Signing the Procurement Framework Agreement
Once KYC verification is passed, you will become an approved buyer. Subsequently, with the assistance of HuiRen International Limited, you will formally enter into a legally binding Procurement Framework Agreement with the Mali seller based on the terms outlined in the Letter of Intent.
4. Order Confirmation and Proforma Invoice
The seller confirms your order according to the agreement and issues a Proforma Invoice, which will specify the detailed terms of the transaction, including the gold weight, purity, and preliminary calculated price.
5. Payment of Deposit and Bank Escrow
The buyer is required to pay a deposit amounting to 100% of the total value stated on the Proforma Invoice. The payment must be made via telegraphic transfer in the MT103 (with MT72 advice) format to the seller's designated corporate bank account in Mali, Africa. These funds will be placed in a special escrow account by the bank and cannot be accessed by the seller until all conditions specified in the MT72 advice are fully met.
6. Payment Confirmation and Production Initiation
After the seller's bank confirms the receipt of the escrowed funds, it will notify the seller to commence the production or preparation process.
7. Product Assay and Export Declaration
Upon completion of production, the seller commissions an authoritative laboratory to test the products and issues an Assay Report stating the final weight and purity. This report will be used for export declaration and payment of relevant taxes and duties in Mali, and serves as the core basis for calculating the Final Purchase Price.
8. Arrangement of Secure Transportation and Destination Delivery
In accordance with the agreement, the seller hires an international professional security company to transport the goods under guard from the Mali refinery to the international airport specified by the buyer (e.g., Dubai or Hong Kong). The buyer is responsible for obtaining import permits and handling customs clearance procedures in the destination country/region (Dubai excepted).
9. (Optional) Buyer's Independent Re-inspection
The buyer has the right to commission an independent third-party laboratory at their own expense to conduct a re-inspection of the goods at the delivery location. The method of adopting the re-inspection report and its impact on pricing must be clearly agreed upon in advance within the Procurement Framework Agreement.
10. Determination of Final Purchase Price
The Final Purchase Price will be calculated and adjusted based on the finally confirmed gold weight and purity. This price is a fixed price and will not be affected by fluctuations in the LBMA price during this period.
11. Settlement of Balance and Release of Goods Title
If the Final Purchase Price is lower than the deposit, the bank will refund the difference to the buyer.
If the Final Purchase Price is higher than the deposit, the buyer must wire the difference to the escrow account.
The seller issues a Commercial Invoice based on the Final Purchase Price. After the bank completes the balance settlement, it releases the full payment to the seller, and simultaneously, the security company releases the goods to the buyer.
12. Payment of HuiRen International Service Fee
The service fee for HuiRen International will be collected following the same process and at the same nodes as the goods and payment flow described above.
Important Declarations
All specific rights and obligations are subject to the final version of the Procurement Framework Agreement formally signed by the buyer and the seller.
HuiRen International reserves the right to amend this procurement process at any time at its sole discretion. Revised content will be published on the company's official website.
We look forward to helping you efficiently develop premium gold resources with our professional services.
For any inquiries, please feel free to contact us at: info@huiren.hk