fego commodite

PROCEDURES IN PURCHASING COMMODITIES1. For us the fundamental approach in trying to assist the prospective buyers is that we work with two important documents, viz the Letter Of Intent (LOI) and a Bank?s Comfort Letter (BCL).2. There are various reasons why the Mandate Holder and we chose this Approach, the main being that we can quickly establish the financial capacity of the buyer to transact, and as such the deal can be concluded quickly without waste of time and resources.3. Perhaps as an alternative to the above, where prospective buyers feel uneasy about their information being given to Third Parties etc. is to submit the LOI to us and the BCL to the buyer?s Attorney/s who can then communicate with us in writing to the effect that he / she is holding such a BCL in order to purchase a specific mine / commodity and that the BCL shows sufficient funds to cover the transaction. Note that there is cost to be borne by the buyer in this context.4. This protocol to be followed is the simplest and most effective for us and many others who follow it.