How to Order Gold Online in Cameroon
You might have bought gold in the past from Cameroon or any other country. If you’ve dealt with multiple vendors, then you might have notice that despite all having similar underlying principles, each vendor has a specific process. Please read and understand our CIF procedure outline below when ordering gold from BONAS Gold before you go to the Gold Order Form to request a quote.
How to Order Gold via CIF (Cost, Insurance, and Freight)
- Seller sends FCO and Draft Contract to the buyer for Verification.
- Buyers Receives FCO and Draft Contract, sign and sealed, then Forwarded back to the Seller for verification before showing the signed documents to the Corporation Local Miners Store Keeper for the Release of the first tranche of Merchandise needed.
- Sellers side goes over signed contract and immediately forward the Gold Bars, would be pre-Assayer by the Ministry of Scientific Research with a copy of the pre-Assayer Results issued out to be forwarded to the Buyers end as a Reference copy to their Buyers Gold Refinery. (Buyers end should note here that, the pre assayer carried out from our Government is necessary here even though we don’t have good technological Devises for such test. This is because we don’t even have a single refinery in our country to test out gold. So all this is done by our Ministry of Scientific Research)
- Upon receiving the Pre Assayer Test Results, Seller side would immediately get dated pictures with news paper covers of the gold bars to be ship with Buyers names and address written and placed inside the boxes of Gold and would immediately Book a day to deposit the Gold at the Ministry of Mines prior to Obtain a OBLIGATORY BUYERS REGISTRATION PERMIT or the shipment of the said cargo.
The Buyer side should get it clear here that, these are Cameroon Obligatory procedures for the sales of Precious Metals on International bases for the Cameroon Ministry of Mines would have to give us a date for us to bring printed hard copies of our signed SPA for approval alongside the goods and the pre assayer test result sheet from our Ministry of Scientific Research.
During this period of time, the Ministry of Mines storage house upon receiving these documents and the goods at our appointed date would have to communicate with the Buyers end on an Interview Bases, a time schedule would be given for that due to time differences. The interview would be done either on a direct phone communication with the Buyers end or Skype communication. This would be done in order to find out if they are willing and able to get the consignment from us and while not get into a long term trade with our corporation that would bring about development in a long Run. Also to find out if the buyers end got any bad records out there in terms of International trade.
All Results being negative, then the whole deal would be canceled out and we shall get back our Gold. We shall provide the buyers end with such guide of questions they shall ask your side for the Interview.
- Upon Confirmation of a positive Test results from the Interview with the Buyers end, the Ministry of Mines storage house would at this moment registered down the amount of Gold they have receive for shipment, forward a copy of our SPA to their contract department for procession and approval and as well issue out their CONFIRMATION LETTER, SKR as well as their PROFORMA INVOICE for the payments of the said OBLIGATORY BUYERS REGISTRATION PERMIT.
The cost of the said OBLIGATORY BUYERS REGISTRATION PERMIT for 5 years that leaves 7500 US Dollars and it is valid for 5 years renewable and the fee is paid directly to the Cameroon Ministry of Mines account to obtain the permit before the as government can approve contract and authorize the seller to ship the gold to buyers refinery for final assayer and payments for the goods as well.
- Ministry approves contract within few days and forward copies to both parties for verification and Confirmation and would as well forward the goods to the Ministry of Transport for shipment with the Seller paying for the shipment allocation fee, Cost, insurances and freight charges for the gold to depart to buyer’s destination.
- Ministry recognized Freight and Export agency get in contact with buyer with all shipping Documents forwarded to the Buyer as well as the Air Way Bill (AWB) and TRACKING NUMBER for Easy tracking of the package so as to get the Precise date of arrival at Buyer’s Airport.(These shipping documents would be Certified as well If needed hard copies by the buyer).
- Gold Bars shipped to buyer’s destination port accompany by sellers Agent if needed.( The sellers Commercial agent would hold a copy of the Commercial Invoice to present to the Buyers end for the payments to be made after the Final Assayer report).
- Gold Bars Received by buyer in the presence of Sellers Agent.
- Buyers end upon receiving goods would made all payments to their government taxes, fees and shipment expenses from airport to Gold Refinery in the presence of Sellers Representatives.
- Assayer of Gold Bars carried on in the presence of seller’s representatives. Upon the completion of the the assayer. The Buyers end will transfer their funds back to Seller’s account within 72 hours.
- Upon final confirmation of the first trance. The seller’s side would prepare the 2nd Trance immediately and would advice their commercial agent to present to the Buyers end a Joint Venture