Diamond Access is capable of accessing and offering rough precious/semi-precious stones/metals to buyers from US$100,000 - $130MM monthly, collectively originating from among 2000 artisan miners in 17 countries in W/Africa. The below information provides the basis of Diamond Access’ transactional buy/sell procedures that should be observed by all interested rough product buyers:
- Prospective buyers provide a non-binding advance Letter of Intent outlining their monthly product purchasing requirements, namely:
- The fixed quantity of products needed monthly from Diamond Access
- The various types and specs of each product needed monthly
- The category, color, clarity, carats, etc. of each batch of product needed monthly
- After receipt of the required Letter of Intent, interested buyers to provide Diamond Access with product purchasing capability, namely: bank proof of funds to cover the estimated cost of the products they intend to purchase on a monthly basis
- Potential product buyers are required to make the necessary financial arrangements with their banks to have the estimated purchasing price amount for the products made available to Diamond Access, locally, at the selected domestic/overseas bank branch in the country of the product origin (preferably via “Letters of Credit”) to be handled by their gemologist/agent in Diamond Access’ behalf, after the inspection and approval of their ordered products stored at the bank, followed by immediate cash transfer made to Diamond Access
- Diamond Access thereafter accumulates the ordered products from among its 2000 artisan miners in 17 countries at designated banks, within a period of 30 – 60 days, confirming the product types and quantities ordered by buyers in their Letters of Intent
- Diamond Access shall on occasions, make available to buyers, samples of the type and quality products made available to buyers
- On effecting and completing the logistics requirements of accumulating buyers’ ordered product from among Diamond Access’ network of over 2000 miners, across 17 countries, Diamond Access prepares a “Product Manifest” in the interest of each buyer to verify/confirm their product orders obtained from the field and secured in the safety of intra- and inter-country domestic/overseas bank branches
- On approval of the “Product Manifest,” buyers shall make arrangements to send their gemologist to country of product origin in W/Africa to examine, verify and approve their ordered products in safety of the bank and immediately release cash payment to Diamond Access
- On verification, confirmation and approval of the ordered products by buyers’ gemologist/agent at mutually selected banks in the country of product origin, Buyers’ agent shall immediately release the payment price of the products to Diamond Access and take possession of the products in the safety of the bank, releasing Diamond Access of any further product responsibility and obligation to buyer.
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