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Please enlighten me.
Came across this on a trade board while I was surfing the net today. How and why would anyone offer a 25% discount? BTW I came across several boards with different sellers offering similiar deals, only with much less of a discount. Your opinions please.
[ Sell ]
gold
The undersigned holder / seller's authorised representative hereby warrants that his principal is in possession and in control of Au (gold) commodity and hereby wants to sell the said commodity particulary describe as follow:
SPECIFICATION
COMMIDTY : AU ( Aurium utalium ) IN BAR FORM
PURITY : 23 KARAT more or less ( subject to buyer's assay)
WEIGHT : 74.2 ( some 74.3) kgs
SIZE : 15 7/8" X 4" X 4" ( 39cm X 10cm X 10cm )
QUANTITY : 200 Metric Tons ( quantity offered for sale )
HALLMARKS : INTERNATIONALLY ACCEPTABLE
PRICE : LMER at time of Settlement
DISCOUNT : TWENTY - FIVE PERCENT (25%) Buyer's discount
adjusted on assay report.
TEST BUY : A test buy of say 1 - 10 bars is preferred to build up
mutual confidence and to test run assay / delivery /
payment procedures. Successful completion of the test
buy would lock in the contract for the total of 200 MT.
Venue of test buy is open to negotiation for mutual
trust and convience.
PAYMENT PROCEDURE : Seller's prefer payment in bank, off shore payment is
preferrable for the bulk.
ASSAY : Buyer to provide his own assayer.
PRESENT LOCATION : Au is presently located in southern Philippines, 1 1/2
hours from an International Airport.
DOCUMENTTAION : For the account of the Buyer.
Industry: Mineral of Precious Metals & Products
City: Calgary
Tel: 1-403-xxx-xxxx
Fax: 253-xxx-xxxx
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