Ever since the ancient time, gold has been favored by people for its value retention and investment function. Investing in gold will not only protect the security of your assets, but also enrich the varieties of your investment. As one of the first members of the Gold Exchange, we can offer you agent services for gold spot trading.
With your authorization, our bank will utilize the spot trade instrument, agent for you to trade standard variety of gold and non-standard variety of gold on the Gold Exchange by remote trading manner, according to the price you designated through our membership seat at the Exchange. We will provide related trading, liquidation, warehousing and delivery services of gold spot trading and a standard service fee will be charged.
Varieties of Agent Services for Gold Spot Trading
1. Standard Varieties
Variety Au99.99 ,Volume 12.5 kg,3 kg and 1 kg.
Variety Au99.95 ,Volume 12.5 kg,3 kg and 1 kg.
Variety Au99.9 ,Volume 12.5 kg,3 kg and 1 kg.
Variety Au99.5 ,Volume 12.5 kg,3 kg and 1 kg.
Other standard varieties stipulated by Shanghai Gold Exchange.
2. Non-standard varieties are the gold with different quality and volume with aforementioned, including the trading varieties that recognized by international gold market eg. IBMA.
3. Generally, our bank will only accept agent services for gold spot trading above 1 kg.
4. Other specific varieties available for trading will be executed according to the notice from Shanghai Gold Exchange.
Business Application and Fee
Under the premise of undertaking risk, profit and loss by yourself, you can apply agent services for gold spot trading and price inquiry for non-standard gold varieties through our branches and outlets.
1. Collect fee for Shanghai Gold Exchange and charge a fee for our bank agent services for every single transaction (buy/sell).
2. Collect gold custody account warehousing fee for Shanghai Gold Exchange, if the gold is bought in not delivered out of storage.
3. Collect gold custody fee for putting in storage, out of storage and gold transportation and insurance fee, if gold is bought in and delivered out of storage / sold out and putting in storage. Gold Leasing
Gold leasing means our bank rent gold to your company for a certain period to meet your temporary demand for gold. You are bound to return the rented gold upon maturity and pay the interest for the gold.
Gold leasing of the bank is a manner of market oriented gold transaction. Our bank is a leading bank among the domestic commercial banks which made breakthrough in the area of gold leasing and the first bank which opened this business on domestic bank.
Subject and Conditions
If your company is a legal entity legally registered and an independent accounting unit with solvency, you could apply for gold leasing when you are in shortage of gold during your production or business operation.
1. You are registered under approval of industrial and commercial administrative departments. You have acquired the qualification of enterprise legal entity, business license for enterprise legal entity after annual inspection and permission for production and business operation.
2. You company maintains settlement and gold account and keeps good account record;
3. Your company has reasonable usage of the gold in compliance with related state policy and regulations;
4. Your company could provide guarantee recognized by our bank;
5. Your company has complete financial system and could report your financial statement to us timely and receive our supervision on your production, business operation and financial status.
Gold Interest
Gold interest is the rental your company should pay to our bank for borrowing the gold. Gold interest is calculated according to the original type of gold and paid in the form of money. A certain type of gold will generate gold interest in the same type for a certain period of time. This interest will be converted into currency according to the offer price of the gold on the day of leasing for interest settlement. The gold interest rate will be published by our bank regularly according to the supply and demand on the gold market.
Application Procedure
Your company should provide us with the following materials while applying for gold leasing:
1. A copy of the business license after annual inspection, a copy of the certificate of legal entity code, the personal identification of the legal representative or the letter of authorization and the identification of the authorized person;
2. The completed application form for gold leasing business;
3. The articles of association, the audited financial statements of last year and the latest one;
4. The basic introduction of the guarantor, its articles of association of the guarantor, and written consent of the guarantor to guarantee. The list of collateral and the written consent to pledge from the person who has the right to dispose the collateral.
After we received your application, we will carry out inspection before leasing and lease out the gold to you after internal verification and approval.
Gold-secured Loan
Gold-secured loan means a certain type of guarantee the loan applicant uses in order to apply for a credit line at our bank. Under such kind of guarantee, the owner of gold will hypothecate the standard gold he/she possesses and deposits at the Shanghai Gold Exchange to our bank, upon the application of the loan applicant.
Loan Subject and Conditions
1. The owner of the hypothecated asset should be a legal entity approved by and legally registered with industrial and commercial administration. It should have business license and pass through the annual inspection.
2. The owner of the hypothecated asset should be an independent accounting unit and have complete financial system.
3. The owner of the hypothecated asset should instruct our bank as the sole broker for its gold trading business. If the owner of the hypothecated asset has already conducted gold trading business through other member of the Gold Exchange, it must close the account with the other member and open a new account with our bank as well as complete the account transfer procedure, before it start to deal with the hypothecation procedure.
4. The owner of the hypothecated asset could provide the written content to hypothecate by its authorized organization for making guarantee decision. It should authorize a representative to sign the hypothecation contract and provide the identification, the letter of authorization and the signature sample of the representative.
5. The hypothecated gold should be the asset of the hypothecator and be deposited at the Shanghai Gold Exchange. The hypothecated gold should be standard gold in compliance with criteria of the Shanghai Gold Exchange.
Application Procedure
1. When the loan applicant submits the loan application with gold hypothecation as guarantee method, it should provide materials in compliance with related regulation of our bank.
2. The applicant should submit a copy of the gold trading brokerage business agent agreement signed between the owner of the hypothecated asset and our bank and the copy of the receipt of the gold trading account opening registration form.
3. Other materials related to the gold trading business which may be reasonably required by our bank. |
