A clear, documented process for qualified counterparties

Establishing whether the enquiry fits the activity before anything else.

A useful first enquiry states who the organisation is, the product category of interest, the approximate quantity and specification envisaged, the intended destination and the verification and documentation standard the counterparty works to.

We use that information to determine whether the enquiry fits what we actually do. Saying so early — including saying no — saves both parties from a discussion that cannot conclude.

Identifying the organisation behind the enquiry.

Relevant corporate information is requested to understand the counterparty: legal name and registration, jurisdiction, authorised representatives, the nature of the business and how it intends to take delivery.

This is a standard requirement in physical precious-metals trade, and it applies in both directions. A counterparty is entitled to ask the same questions of us.

Identity, ownership, sanctions exposure and jurisdictional considerations.

Onboarding covers identity verification, beneficial ownership, sanctions and restrictions screening where applicable, and an assessment of the jurisdictions involved in the transaction.

Records are retained showing what was reviewed and when. Where something requires further examination, it is escalated rather than set aside because the commercial opportunity is attractive.

Defining the product before defining the deal.

Product form, required fineness, quantities and tolerances, packaging, documentation set, destination and timing are established in writing. Where a requirement cannot be met, that is stated plainly rather than accommodated with vague wording.

No prices or indicative values are published on this website. Commercial terms are discussed directly with qualified counterparties and depend on specification, transaction structure, documentation, logistics and other relevant requirements.

Agreeing how the material will be checked, and by whom.

The parties agree where and by whom material is weighed and assayed, what method applies, whether the counterparty or its appointed agent may witness or verify independently, and how a discrepancy between results is to be handled.

These points are settled before material moves. Raising them once a consignment is in transit is the most common reason a transaction stalls.

Recording what has been agreed and who is responsible for what.

Agreements, instructions and confirmations set out the specification, the responsibilities of each party, the verification arrangement, the documentation to be provided and the conditions applying to completion.

The purpose of this stage is that neither party relies on recollection. Everything material to the transaction exists as a record that can be examined later.

Planning the movement before anything physically moves.

Destination requirements, routing, secure handling, insurance arrangements, customs and export or import documentation and chain-of-custody records are established in advance.

Delivery capability is assessed against the transaction, the destination, applicable law, logistics requirements and available service arrangements. We do not promise delivery to every country.

Handover against records, not assurances.

Delivery documentation and confirmation records allow what arrives to be reconciled against what departed, with each handover recorded as responsibility transfers between parties.

Keeping a transaction explainable after it closes.

Compliance, product, verification and logistics records are retained so that the transaction can be explained months later to a bank, an auditor or a regulator. In this trade that is a normal requirement rather than an administrative extra.