What does FCO (Full Trade Offer) mean in the context of gold dore trading?

[allglory]

Is it a standard practice or merely a term used for fraudulent purposes?

 

[CosmoIridium]

It's used for fraudulent purposes.
FCO = Full Corporate Offer
If someone wants to sell dore or any gold product and suggest using FCO or SCO or LOI, run in the opposite direction.

 

[allglory]

Ho

It's used for fraudulent purposes.
FCO = Full Corporate Offer
If someone wants to sell dore or any gold product and suggest using FCO or SCO or LOI, run in the opposite direction.

How do scammers exploit this terminology to deceive traders, particularly through Letters of Intent (LOI)? Could you provide more details on that aspect?

Thank you.

 

[4metals]

How do scammers exploit this terminology to deceive traders,

If they can't beat you with an assay or on the scale they do it legally. Read the small print, that's where they spell it out (sort of) because they too play CYA.

 

[Anil]

Any gold dore sale must be split into technical and commercial terms and conditions.
The technical will deal only with the technical specifications of Dore such as minimum purity, weight of Dore, chemical composition with tolerance (splitting limit), etc. While the commercial conditions will specify, terms of payment, incoterm, and type of documents that would accompany a consignment including the certificate of origin and the country of loading if it is different from the CoO and arbitration clause in case of dispute. Any offer for cash and carry unless the importing or exporting country allows it by law due to forex restriction should be verified. Anyone advertising on social media offering to sale gold dore with huge discounts, neglect it.