Letter of Intent Signed for Purchase of Gold
Issued Date: 3rd September 2020
Bombay Finance India Ltd has officially signed a Letter of Intent (LOI) to purchase gold (Aurum Utalium - AU metal) from ImpTrax Corporation. This strategic move aligns with the company’s goal to expand its asset portfolio and participate in high-value international commodity trade.
As per the agreement, a trial shipment of 100 kilograms will be delivered, followed by monthly deliveries of 500 kilograms for a minimum of 12 months. The shipment terms are CIF to Mumbai International Airport, with payment guarantees and inspection terms defined clearly within the LOI.
The agreement was signed by Mr. Satpal Singh Oberai, Chairman of Bombay Finance India Ltd, and represents a pivotal milestone in the company’s operational and international growth. Both parties have agreed to adhere strictly to international compliance and logistics protocols.