PRICING & SETTLEMENT
Transparent pricing. Settlement you can plan around.
PRICING
We price two ways:
Spot deals: one-off deliveries with no contract term are priced at the live spot gold price on the day the metal is weighed and assayed, adjusted for purity, and settled on verification.
Contract deals: tranches under a Sale and Purchase Agreement are priced against the LBMA Gold Price (AM or PM, as agreed), fixed per tranche with a written fix confirmation.
Any discount or premium depends on form, purity, volume and delivery point, and is agreed in writing before delivery.
SETTLEMENT
Standard settlement: SWIFT bank transfer (MT103) to the verified account of the contracting party only. We never pay or accept payment from third parties.
Structured settlement: for larger contracts with suppliers who have a proven export record, payment can be secured with a bank instrument (see below).
All payments and instruments go through regulated banks.
STRUCTURED SUPPLY
For larger, multi-tranche contracts, Azgar can secure payment with a bank instrument instead of open-account transfer. These are available only to suppliers with a proven ability to export, and are issued by regulated banks subject to their own approval.
Documentary Letter of Credit (DLC / LC SWIFT MT700)
Issued by the buyer's bank in favour of the supplier and governed by the ICC's UCP 600 rules. Payment is made when the supplier presents compliant documents, typically: commercial invoice, packing list, certificate of origin, airway bill, UAE bill of entry, and the assay certificate from an accredited Dubai refinery. Suitable for recurring tranches where both parties want payment tied strictly to documents.
Standby Letter of Credit (SBLC SWIFT MT760)
A bank guarantee of payment for a defined period and amount, called only if a party fails to pay or perform. Azgar considers an SBLC only where the supplier has demonstrated regular monthly exports, supported by airway bills or manifests, UAE bills of entry and assay reports for previous shipments.
Eligibility for structured settlement
1. At least one year of documented, consecutive exports.
2. Full KYC completed and approved by our Compliance Officer
3. A signed Sale and Purchase Agreement setting quantity, purity, tranche schedule and the instrument's terms
4. Instrument wording agreed between the banks before issue
What we do not accept
1. Leased, monetised or "rented" bank instruments
2. Pre-advice (MT799) or "proof of funds" messages as a substitute for payment or a confirmed instrument
3. Any fee payable in advance for issuing, receiving or releasing an instrument
