Africa Precious Commodities Company Ltd

DEAR SIR/MADAM; WE AFRICA PRECIOUS COMMODITIES COMPANY LTD, WITH FULL CORPORATE AUTHORITY AND RESPONSIBILITY MAKE AN IRREVOCABLE FIRM COMMITMENT UNDER PENALTY OF PERJURY TO SELL AND DELIVER GOLD DUST AND ROUGH DIAMOND TO ANY POTENTIAL BUYER FOR A PERIOD OF TWENTY FOUR MONTHS (TWO YEARS). THE PAYMENT PROCEDURES WILL BE AS FOLLOWS: A) INSURANCE: AT HIS OWN EXPENSE, SELLER AND SELLER’S FINANCIER WILL PROVIDE INSURANCE COVERAGE FOR EACH SHIPMENT FROM ORIGIN THROUGH TESTING PROCESS. POLICY SHALL COVER ESTIMATED INVOICE VALUE AND COVER ALL PHASES OF HANDLING, GROUND AND AIR TRANSPORT, STORAGE, THEFT, FIRE, DESTRUCTION, AFFECTS OF WAR, ETC. PROCEEDS SHALL BE PAYABLE TO SELLER. B) THE SELLER SHALL DELIVER MONTHLY SHIPMENTS CONSISTING OF A MINIMUM OF TWO THOUSAND (2000KGS) KILOGRAMS OR THIRTY FIVE THOUSAND TWO HUNDRED AND SEVENTY THREE AND NINETY SIX (35,273.96OZ) OUNCES (WITH POSSIBLE EXTENSIONS) FOR THE DURATION OF THE CONTRACT. C) PAYMENT: THE BUYER WILL HAVE TO MAKE A SWIFT OF AN MT799 (POF) .OR AN IRREVOCABLE CORPORATE PROMISSORY NOTE (ICPN) THE SELLER AFTER RECEIVING THE MT799/ICPN OF THE BUYER AND CONFIRMS WITH BUYERS BANK THE AUTHENTICITY OF THE INSTRUMENT, THE SELLER WILL CONFIRM TO THE BUYER THE GOLD’S EXISTENCE IN A QUANTITY OF TWO THOUSAND (2000KGS) KILOGRAMS AND WILL PROVIDE THE BUYER WITH FOLLOWING DOCUMENTATION 48 HOURS BEFORE EACH SHIPMENT/DELIVERY DATE: -1) - CERTIFICATE OF QUANTITY (ORIGINAL OR CERTIFIED COPY), -2) - CERTIFICATE OF ORIGIN (ORIGINAL OR CERTIFIED COPY), -3) - CERTIFICATE OF OWNERSHIP (ORIGINAL OR CERTIFIED COPY), -4) - BANK OF (COUNTRY OF ORIGIN) (FORM 2) (ORIGINAL OR CERTIFIED COPY), -5) - CUSTOMS MOVEMENT CERTIFICATION (ORIGINAL OR CERTIFIED COPY), -6) - GEOLOGICAL ASSAY REPORT (ORIGINAL), -7) - STATEMENT OF AU METAL BEING FREE & CLEAR FROM ANY/ALL LIENS AND/OR ENCUMBRANCES NOR ASSOCIATED WITH TERRORIST ACTIVITY (ORIGINAL OR CERTIFIED COPY), -8) - EXPORT PERMIT (ORIGINAL OR CERTIFIED COPY), -9) - ABILITY TO LEGALLY TRANSFER TITLE/OWNERSHIP (ORIGINAL OR CERTIFIED COPY), THE ABOVE DOCUMENTATION WILL BE SENT VIA FAX AND REGISTERD MAIL. THIS WILL ENABLE THE BUYER TO BE PRESENT AT HIS CUSTOMS TO CLEAR THE GOODS AND TAKE THEM TO HIS REFINERY FOR THE TESTING AND ISSUANCE OF THE ASSAY REPORT. THE BUYER SHOULD NOTE THAT, THE MT799/ICPN WILL REMAIN IN PLACE ONCE OUR BANK CONFIRMS THE AUTHENTICITY OF THE SAID POF, WE ARE ONLY GOING TO BE PAID AFTER BUYER’S REFINERY ISSUES THE ASSAY REPORT OR DIAMOND GRADING CERTIFICATE.