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Purchase and Sale of Precious Metals
Purchase of Precious Metals from Russian Subsoil Users
VTB Bank regards cooperation with Russian subsoil users as a priority in the precious metal market. The bank has offices in all the main precious metal producing areas.
The bank has the following customer relations principles:
- a multifaceted approach to customer service, which includes, in addition to sales agreements, providing a package of services, in particular, lending, equipment lease, cash and settlement services, etc.;
- highly competitive price terms;
- a flexible approach to pricing, depending on the volumes of metal supplied and the level of relations with the customer.
Pricing options
- the price for each batch of metal is set at the point of delivery of the batch to VTB’s depository;
- advance setting of the metal price: after the conclusion of an agreement (in case a customer leaves a deposit (collateral) in the form of VTB promissory notes); after the delivery of raw materials to the refinery (no collateral is required);
- metal delivered to VTB’s depository is credited to a depersonalised metal account opened for a VTB Bank customer, and is subsequently sold by VTB by debiting the account in accordance with the customer’s instruction. In this case, the price is set on the date the account is debited.
Sale of standard and non-standard precious metal bullions to jewelry enterprises and industrial consumers
VTB Bank offers standard gold and silver bullions, as well as 99.99% purity bullions weighing from 1 g to 1000 g.
Sales are carried out on the basis of sales agreements and contracts concluded between VTB (in Moscow) or its branches (in other regions) and purchasers. These are framework agreements (they establish the procedures for pricing, delivery of the metal and settlement). Transactions for separate metal batches are concluded within such agreements.
It is also possible to conclude a
Sales are carried out on a
Metal is delivered directly to the purchaser or given to their representative from VTB’s depository (in Moscow) or from a branch depository (in other regions).
The settlement currency is the Russian rouble.
Delivery time:
- minimum: on the payment date (subject to 1st run payment and distribution from VTB’s depository in Moscow);
- maximum: within 3 business days after VTB receives the payment (in case the metals are delivered from Moscow to a region).
- presence of VTB branches in all the main regions of precious metal consumption, which minimises the time between payment and delivery, and ensures faster settlements;
- a multifaceted approach to customer servicing, which includes, in addition to the sales agreement, providing a package of services, in particular, lending, cash and settlement services, etc.
- highly competitive price terms;
- a flexible approach to pricing, depending on the volumes of metal supplied and the level of relations with the customer.
Sale of customer-owned precious metals in the Russian market under a commission agreement
Key benefits and advantages:
- VTB’s superior reliability;
- VTB’s extensive experience in conducting operations and a wide network of partners, which ensures lower customer expenses on sales of precious metals and increases their efficiency;
- highly competitive price terms;
- the bank offers subsoil users a service to cover the cost of precious metal refining and processing;
- the possibility to accept the customer’s metals directly from their depository (for subsoil users, from the refinery depository).
