01 · Overview
Strong presence in the global physical gold trade.
Ambank Asset Management acts as a global financial company specializing in structured transactions involving physical gold and asset-backed operations. We operate alongside refineries, inspection agencies, and compliance entities to ensure that every transaction meets global standards of transparency, legality, and execution.
Our role is to connect qualified sellers — sovereign treasuries, miners, traders, and refineries — with institutional buyers under secure and verifiable structures. We do not sell retail gold to the public, we do not promise fixed prices, and we do not conduct transactions outside formal SPA documentation. The pages below outline the institutional procedure we apply to every mandate.
02 · Asset qualification
Define the asset before anything else moves.
The first technical decision in any gold transaction is qualifying the asset itself. Form, quantity, purity and physical location are not commercial niceties — they determine which buyers can transact, which refineries are needed, what documentation is mandatory, and how the pricing formula is constructed. Engagements that skip this stage are invariably the ones that stall later.
Dore vs Refined Bullion
The first decision in any gold transaction is whether the asset is primary-source Dore or already refined bullion. The difference shapes documentation, pricing and the entire downstream logistics path.
Primary source, pre-refining
Good Delivery bullion
03 · The six-step procedure
From qualification to settlement, in writing.
The procedure below is the institutional best-practice pathway followed by every Ambank gold mandate. Each step produces a discrete deliverable that the next step inherits; nothing is informal.
- 01
Asset Qualification
We define the asset with precision: Dore or refined bullion, quantity in kilograms or metric tonnes, declared purity, refinery of origin and the verifiable physical location of the metal at the time of engagement.
- Holder declaration
- Vault / refinery address
- Provisional assay
- 02
Compliance & Due Diligence
Each transaction is screened against international AML and KYC standards. We verify legal ownership, the chain of custody back to the mine or refinery, and the identity and source-of-funds profile of every named party.
- AML / KYC files
- Beneficial-ownership map
- Chain-of-custody record
- 03
Documentation Preparation
A complete documentation pack is assembled to match the requirements of institutional buyers and bonded logistics. Incomplete files are not progressed; this is the most common reason transactions stall.
- Certificate of Origin
- Assay & Purity Certificate
- Export Permit & Mining License
- Certificate of Movement
- 04
Buyer Engagement
Once documentation is verified, we move to commercial framework: LOI, Full Corporate Offer (FCO) and the binding Sales & Purchase Agreement (SPA). Buyers may instruct independent inspection by SGS or Bureau Veritas.
- LOI
- FCO
- SPA
- Inspection mandate
- 05
Logistics & Delivery
Physical delivery is executed by insured bonded carriers under CIF or FOB terms, accompanied by full documentation and live tracking. Final destination is a permitted vault in the USA or London.
- Insured air freight
- AWB & transit documents
- Vault receipt
- 06
Refining & Settlement
On arrival the metal is re-tested, a final assay is issued, and payment is released to the seller in accordance with the SPA. Any pricing differential against the contractual benchmark is reconciled at this stage.
- Final assay
- Settlement instruction
- Reconciliation
04 · Compliance & due diligence
Five compliance pillars, applied to every mandate.
Compliance is the gating function of an international gold transaction. Banks, bonded carriers and accredited refineries will refuse a consignment that does not satisfy the AML, KYC, beneficial-ownership, chain-of-custody and export pillars below. Ambank screens every counterparty before progressing to documentation, and re-screens at each material change of structure.
- 01
AML screening
Every named party — seller, beneficial owner, mandate holder, intermediaries — is screened against international sanctions, PEP and adverse-media databases before any documentation is exchanged.
- 02
KYC & beneficial ownership
Full identification of natural persons holding 25 percent or more of the selling entity, supported by certified passports, proof of address and source-of-funds documentation.
- 03
Chain of custody
Documented continuous custody of the metal from extraction or refining to the current vault, including every prior holder, transport leg and inspection.
- 04
Origin & legality
Verification that the gold is not of conflict, illegal-mining or sanctions-restricted origin. Compliance with the OECD Due Diligence Guidance for responsible mineral supply chains.
- 05
Export & customs
Confirmation of valid export permits, customs declarations and bonded transit, with the receiving vault appointed as customs-cleared destination.
05 · Documentation pack
Eleven documents that institutional buyers expect.
Each shipment must be accompanied by a complete documentation pack aligned with international trade law and the receiving vault's bonded-storage requirements. The matrix below groups the eleven core documents into commercial, regulatory and logistics tiers; transactions presented without this full pack are not accepted by institutional buyers.
Core documentation
4 documentsCertificate of Origin
Issued by the chamber of commerce in the jurisdiction of extraction or refining; identifies the country, refinery and licensed exporter.
Assay Report (Certificate of Purity)
Independent laboratory analysis stating fineness (e.g. 999.5 / 1000) and weight in troy ounces, signed by the responsible assayer.
Certificate of Ownership
Notarised declaration of legal title at the moment of engagement, naming the registered holder and any liens or encumbrances.
Certificate of Movement
Confirms the metal is free of liens, judicial blocks, criminal proceeds or sanctions exposure and may legally cross the border.
Regulatory documentation
3 documentsMining License
Operating licence of the source mine or cooperative, demonstrating compliance with environmental and labour regulation in the country of origin.
Government Export Permit
Official export authorisation issued by the relevant ministry; mandatory for any cross-border movement of bullion or Dore.
Pre-Shipment Assay
Second, independent purity verification performed before the bullion leaves the origin vault. Required by most institutional buyers.
Logistics documentation
4 documentsCommercial Invoice
Final commercial document referencing the SPA, the agreed benchmark, the discount structure and the settlement currency.
Packing List
Detailed inventory matching every bar or container by serial number, weight and seal, against which the receiving vault verifies on arrival.
Airway Bill (AWB)
Transport document issued by the bonded carrier; specifies route, consignee vault and insurance coverage in transit.
Insurance Certificate
All-risk in-transit cover issued by an A-rated underwriter, naming the consignee vault as loss payee for the duration of the journey.
06 · Buyer engagement
LOI → FCO → SPA, with named inspection.
Once compliance and documentation are settled, we move into the commercial framework. A Letter of Intent (LOI) opens the dialogue and confirms the buyer's mandate. A Full Corporate Offer (FCO) sets out volume, pricing reference, discount, delivery terms and documentation expectations. The Sales and Purchase Agreement (SPA) binds both parties on assay tolerances, settlement currency and the consequences of any deviation discovered on arrival.
Buyers may instruct independent inspection through SGS, Bureau Veritas or an equivalent recognised inspector, both pre-shipment at the origin vault and on receipt at the destination. The cost is normally borne by the buyer and its findings prevail over any prior assay.
07 · Logistics & delivery
Bonded carriers, all-risk insurance, tracked end-to-end.
Physical delivery is executed under secure international logistics. Air freight is performed by bonded carriers with experience in precious-metals consignments — Brink's, Loomis, Malca-Amit and equivalent — under CIF or FOB terms agreed in the SPA. All-risk insurance is placed with an A-rated underwriter and the receiving vault is named as loss payee for the duration of the journey.
Each shipment is accompanied by the complete documentation pack and tracked from departure vault to destination vault. On arrival, customs clearance and vault entry are completed under bonded conditions; the metal does not leave secured custody at any point.
08 · Refining & settlement
Final assay decides the final number.
On arrival the metal is received into the destination vault, weighed against the packing list and submitted to a final assay performed by an accredited laboratory. Refined Good Delivery bars are verified against the refiner's hallmark and serial register; Dore is melted, sampled and assayed under the standard procedures of the receiving refinery before being re-issued under the buyer's preferred hallmark.
Payment is released in accordance with the SPA against the verified assay weight and purity. Any deviation from the contractual fineness is reconciled at this point through the disclosed adjustment formula; there are no hidden discounts and no off-contract netting.
09 · Pricing structure
Linked to live spot. Disclosed in the SPA. No fixed guarantees.
Gold is priced against international market benchmarks at a contractually fixed window referenced in the SPA. Discounts may apply depending on purity, form (Dore versus refined), refinery requirements and pipeline volume. We do not offer fixed or guaranteed pricing outside live market conditions, and no off-contract premium or kickback arrangement is permitted.
Linked to live LBMA spot, settled in writing.
All transactions are priced against an internationally observable benchmark — most commonly the LBMA Gold Price (formerly the London Gold Fix) — at a contractually fixed window referenced in the SPA. No fixed or guaranteed pricing is offered outside live market conditions, and any deviation from spot is fully disclosed as a named discount or premium with its commercial rationale.
Settlement = Spot × Purity × Weight
− Refining discount
− Logistics & insurance
± Volume / pipeline term
Every line item is contractually disclosed
Purity & form
Refined Good Delivery bullion trades closer to the benchmark; Dore carries a refining discount that reflects content loss and processing.
Refinery & origin
Bullion from LBMA-listed refineries clears at the lowest discount. Non-listed origin requires a re-issue at a partner refinery and is priced accordingly.
Logistics & insurance
Bonded air freight, all-risk insurance and vault entry fees are netted into the final settlement, transparent to both seller and buyer.
Volume & frequency
Single-shipment transactions price at one tier; recurring pipeline contracts unlock progressively narrower discounts subject to ongoing compliance.
10 · Vault network
Two settlement jurisdictions. One global procedure.
Final settlement is concentrated in three accredited jurisdictions. Each plays a distinct role in the global gold trade and is selected on a transaction-by-transaction basis to match buyer preference, refining requirement and jurisdictional fit.
USA
Refining and reserve custody
Switzerland processes over half of the world's annual refined gold output. USA vaults sit alongside the major refineries and are the natural destination for Dore that needs to be re-issued under a Good Delivery hallmark.
- Federal customs free zones
- Direct refinery proximity
- Allocated and segregated storage
USA
Cross-border bullion gateway
USA is the principal physical bridge between African and Asian gold markets. The DMCC framework, UAE Good Delivery Standard and bonded vault infrastructure make it the preferred settlement point for many emerging-market sellers.
- DMCC-regulated marketplace
- UAE Good Delivery Standard
- Bonded refining capacity
London
Benchmark, clearing and reserve
London hosts the LBMA, the daily Gold Price benchmark and the world's deepest spot and forward liquidity. Allocated vault accounts in London are the standard reserve location for bullion banks and central banks alike.
- LBMA-accredited vault network
- Daily LBMA Gold Price benchmark
- Deepest physical spot liquidity
11 · Who we work with
Institutional counterparties on every side of the trade.
We engage exclusively with verifiable institutional and industrial counterparties. Retail intermediation is outside our practice; mandates are accepted from the categories below.
Gold asset holders
Sovereign treasuries, family offices and corporate holders selling allocated metal from accredited vaults.
Mining operators
Licensed primary producers, cooperatives and concession holders selling Dore at the wellhead under a verified mining licence.
International traders
Established physical traders aggregating volume into pipeline contracts, with full AML and chain-of-custody history.
Refineries
LBMA Good Delivery refineries and regional accredited refineries providing assay, refining and re-issue capacity in Switzerland, USA and Asia.
Institutional buyers
Bullion banks, central banks, ETF custodians and sovereign wealth funds purchasing under written SPAs at benchmark-linked pricing.
12 · Guarantees & partners
Insurance, fiduciary and inspection partners.
Transactions are supported by a network of institutional partners providing transaction validation, risk mitigation and added credibility to counterparties. These include Surety Bond and fiduciary entities such as ERGO Assurance, accredited inspection houses such as SGS and Bureau Veritas, and accredited bonded logistics operators. Engagement of any specific partner is transaction-dependent and confirmed in the SPA.
Linked reading on the integrity of the broader trade finance ecosystem: Buying gold online safely — fraud prevention guide, Private Placement Program SBLC scams.
13 · Private consultation
Start your gold transaction with confidence.
Request a private consultation with our team to structure your operation securely and professionally. We will review the asset profile, compliance position and documentation status under NDA before quoting any mandate.
Ambank acts as a facilitator of structured transactions. All operations are subject to due diligence, compliance verification and agreement between counterparties. No guarantees of pricing, timelines or outcomes are provided outside formal contractual agreements.